Does Bitconnect still support Bitconnect Coin?

Despite the closing of the lending and exchange platform, the company still intends to support BitConnect Coin. BitConnect Carlos is a nickname given to Carlos Matos, an investor in Bitconnect who showed up to the company's First Annual Ceremony in Thailand.

What assets does Bitconnect have?

However, Bitconnect as an entity never actually existed, so it is unclear what assets Bitconnect has (or ever had). An alleged India-region leader (one level below founder) of Bitconnect, Divyesh Darji, was arrested in Delhi, India, on August 18, 2018.

What happened to Bitconnect?

In retrospect, BitConnect did have amazing timing. 2017 would eventually be known as the year of the ICO, which resulted in the creation of companies like Binance. Even Ethereum, now the second-biggest cryptocurrency by market cap, came to life via an ICO in 2014. Over the coming months, the price of BCC literally skyrocketed.

Was Bitconnect a Ponzi scheme?

“As alleged in the indictment, however, BitConnect operated as a Ponzi scheme by paying earlier BitConnect investors with money from later investors,” the Justice Department said in a statement. Kumbhani and his co-conspirators allegedly made about $2.4 billion in the scheme.