Is there really a connection between Bitbay and Qtum.
Not at all. But BitBay has had the missfurtune to be scammed by the Patrick/Steven Dai, the founder of Qtum. He was also the founder of BitBay, and he took the money and ran. If it had not been for David who has given years of his life to do work he had not signed up for, BitBay would have been dead, and the investors would have lost everything.
Bitbay could one day be an example for the world for one of the most nicely executed resurgences