Do you have any idea how people still could fall for this project even after people started writing articles and so on about Bitconnect being a scam?
Two reasons;
(1) People trust, but don't verify, and
(2) People don't like to do math
BitConnect offered totally unrealistic returns on their accounts. People that opened an account just believed (blindly) that BitConnect's offer was real, sustainable. They didn't verify that the offer was realistic. To verify that the offer was realistic they'd have to do some math.
For example, BitConnect was offering something like 1% return per day for the length of the term of the contract (3 months, 6 months, whatever). For them to offer 1% return to the account holder means they'd have to make more than 1% return on the money the account holder gave them. There is no investment on this planet that can earn that kind of return reliably (with confidence that any real business would offer it to customers).
This equates to a 365% return per year! This kind of interest-based return is, literally, impossible given the current rate environment.
The totally unrealistic interest promised and the requirement to lock in the account for a set number of days are the two classic characteristics of a ponzi scheme. Once BitConnect thought they'd acquired enough funds or if early adopter customers got close to the end of their contract date they shut it down and took off with the money. Maybe they'll get caught, but the account holders will likely never get their money back.
The irony of the whole situation is that just owning Bitcoin would have given people a greater return than the interest rate. People are greedy, and as such they got burned. There are more realistic interest paying wallets available, like paying 10% per YEAR.