The reason I posted on this thread was that people like you kept saying bitconnect 'collapsed' when it is blatantly false. They profited hugely from the lending and were not in any financial troubles. So they didn't 'collapse' in the way most people think and could have carried on fine if it wasn't for all the 'scam' complaints and getting authorities interested. They never scammed anyone before they were forced to close the lending and still paid everyone back their loans early at the 15 day average market price.
Of course the scammers profited, that's the point of the scam. But they didn't pay everyone back. Worthless made-up tokens are worthless. They should have paid back those dollars that they promised - should be easy since they were not in financial trouble? But they didn't. Therefore scam. Authorities tend to be interested in large scams.
Authorities are interested and the class action lawsuit that was filled in florida is a good start but i highly doubt any justice will be served here. Maybe some of the big youtube promoters will get slapped on the wrist with something but thats probably it.
Unfortunately in the end the people who will be punished is the hardworking people who took money out of their savings to try and get in on some of this "bitcoin boom" stuff and were mislead by greedy/irresponsible promoters who got them to invest through their ref link...shame shame shammmeee on the promoters of this!
Even the story is saying bitconnect made millions from the lending and trading platform (so the returns they paid were never excessive compared to the growth of the coin). A mistake in the lawsuit seems to be this 'promise' of 1% a day which was never true. There was no guaranteed daily percentage and often they paid 0% (only the largest investments, not any reinvests, would guarantee a smaller percentage bonus on top of at least 0.1% to 0.25%).
By the way, why aren't people more interested in laser.online (Some actor known as Anthony Garley appeared towards the end of its life) which was a complete Ponzi scheme and stole everyone's BTC? It's because these are known to be HYIP and often people get into them knowing they will collapse. There are no laws against these crypto sites in UK at least, especially as most cryptos are just unbacked speculative assets even the top ones like bitcoin.