Cryptos Land: Bitconnect shut it services, Token down 80%

Wednesday, 17 January 2018

Bitconnect shut it services, Token down 80%

Bitconnect, a known Ponzi scheme that claimed to be a lending and trading platform since its inception has closed its services initiating an exit scam. BCC on its website stated that due to some issues the exchange and lending platform will cease to exist. Although the coin still have an active market on some exchanges.

Bitconnect was deemed to be a Ponzi scheme from day one and many people in Crypto had endorsed  its behavior. The events unfolding on 17 Jan brought a massive panic among BCC traders and people having significant investment in coin.

The blockchain of BCC is still functional but it is taking about 5 hours for a transaction to process maybe because of a rapid decrease in mining activity. BCC stated that the coin itself and Blockchain will exist leaving the platform in dust.

BCC made headlines past months as it climbs to among top 20 Cryptocurrencies. The growth of BCC was connected to its extensive marketing campaign. This also include a promotional banner on Coinmarketcap a website that tracks Crypto prices record, and several Youtube videos and endorsement.

BCC Token briefly depreciated from $400 to $30. The exchange website is also not working and many traders are in distress.

No comments:

Post a Comment

Get Latest Post Via E-mail