A US district court orders the distribution of $17M+ in restitution to ~800 victims of the BitConnect Ponzi scheme from 40+ countries; BitConnect folded in 2018
Jesse Coghlan / Cointelegraph :
A US district court orders the distribution of $17M+ in restitution to ~800 victims of the BitConnect Ponzi scheme from 40+ countries; BitConnect folded in 2018
The millions will be distributed among the select number of victims, but thousands more were impacted by the $2.4 billion fraudulent scheme.
The SEC says BitConnect founder Satish Kumbhani, recently charged with running a $2.4B Ponzi scheme, has disappeared from his native India
BitConnect founder Satish Kumbhani, charged criminally in the U.S. last week with a $2.4 billion Ponzi scheme, has vanished from his native India, officials said.
The US DOJ indicts BitConnect founder Satish Kumbhani for allegedly obtaining ~$2.4B from investors in a Ponzi scheme by touting purported proprietary tech
The U.S. Department of Justice today revealed its indictment against Satish Kumbhani, the founder of defunct cryptocurrency platform BitConnect.
The US DOJ indicts BitConnect founder Satish Kumbhani for allegedly obtaining ~$2.4B from investors in a Ponzi scheme by touting purported proprietary tech
The U.S. Department of Justice today revealed its indictment against Satish Kumbhani, the founder of defunct cryptocurrency platform BitConnect.
The US DOJ will sell $56M worth of cryptocurrency it seized as part of the BitConnect fraud case; victims can apply to be reimbursed
Dan Mangan / CNBC : Source: U.S. Department of Justice .
Filing: SEC sues Satish Kumbhani, the founder of now-defunct BitConnect, and a promoter over alleged $2B crypto fraud scheme; Kumbhani's location is unknown
The top U.S. securities regulator on Wednesday sued the founder of the now-defunct cryptocurrency exchange platform BitConnect … Source: U.S. Securities … .
SEC charges five people with promoting BitConnect, which it alleges was an unregistered digital securities offering that raised $2B+ from retail investors
The Securities and Exchange Commission (SEC) has filed a civil lawsuit against five people accused of promoting BitConnect, a now-defunct crypto Ponzi scheme.
Analysis: SEC and state regulators brought 90+ crypto-related cases in the past two years, recovering just ~$36M; cases increased as the market crashed
$8.4 billion less than the $10.5 billion initially invested” http://www.wsj.com/... Jean Eaglesham / @jeaneaglesham : One of the biggest alleged crypto-scams, BitConnect, blew up almost a year ago. A ...
How Bitconnect, once worth $2.6B+, got so big via promises of daily 1% returns, multi-level marketing schemes, and spamming Google via its own “news” blog posts
After nearly dropping below $9K … Stan Higgins / CoinDesk : BitConnect Investors Left in the Lurch as Token's Price Drops 90% Aaron Mak / Slate : BitConnect, a Bitcoin Exchange Long Accused of Being a...