I had a lot of folks close to me get caught up in this scheme. There are so many of these operations that operate in this typically criminal scheme. Obviously, CC isn't regulated like the NASDAQ or NYSE markets. My question is, what does everyone think of these type of situations? This is much different than a bankrupt exchange stealing money, this seems like a pure Ponzi scheme.
Regards!
Actually it was not a ponzi scheme and also payed a lot for investing in their platform but due to the ddos attack and the pressure from government of certain countries, bitconnect had to close its lending and exchange platform. It was not actually wrong from the side of bitconnect and also they returned the amount invested with their BCC coin at a rate above 350$ but the price for that coin was immediately dropped to 18-20$ which actually gave a huge loss for all the panic sellers. Holding that BCC coin will also be profitable for long term because the price for BCC will surely pump back to normal.