Twitter Spoof: BitConnect 2.0 to Return in July; BCC Token to Rise from the Crypto Graveyard?
Bitcoinnect is known for its high yield investment platform Bitconnect.co. The company had a cryptocurrency Bitconnect Coin (BCC) which investors bought with Bitcoin to gain a 0,25% daily interest. The company also has a lending platform and exchange which closed due to warnings from Texas and North Carolina authorities.
Some unknown person is however working on reviving the platform, this time known as Bitconnect 2.0, implying that it is a better version of the old. This has stirred a lot of reactions from the cryptocurrency community on Twitter, most of which are negative and may suspect this may be a repeat of the previous ponzi scheme as it was referred to.
Prior to its closing in January 2018, the platform was considered a ponzi scheme because of the unrealistic returns promised on “investments”. Vitalik Buterin was one of the top critics of the platform and the criticisms were justified when Bitconnect closed down and investors lost a lot of money in the end.
While nobody expected the platform to return, the launch is reportedly just 6 weeks away and seems imminent but whoever is behind it is not known at this time. This is kind of strange considering Bitconnect is still yet to refund investors’ money that was stuck on the platform when it closed down.
Bitconnect appeared in 2016 and increased in value to nearly $500. On closing the high yield investment platform on 16 January 2018, the price of the coin crashed to $1 as confidence in the asset was lost as a result of the incidence.
The government authorities of Texas and North Carolina issued a cease-and-desist warning to the platform twice for unlawfully selling securities to the public which eventually led the fold up. In a press release on January 9, the regulators from the North Carolina Securities Division said it had found that Bitconnect intended selling unregistered securities in in an ICO scheduled to hold on 10 January 2018.
The Twitter cryptocurrency community has been responding to the tweet on the launch of the platform. One of the respondents, apparently the victim of the Platform in the past wrote:
“I LOST MY LIFE SAVINGS IN THE ORIGINAL BITCONNECT. If you guys are coming back, can you at least reuse the original chain & allow people like myself to redeem my tokens? PLEASE! If you do, I will forgive you and try out BCC2.0. Many people would forgive you if you do this.”
Is Bitconnect back to take more money from unsuspecting victimes?