It is an interesting period for cryptocurrency enthusiasts. With most markets showing a massive rebound after a few rough days, there is a general sense of excitement among community members. The bigger news this week is how BitConnect is – once again – making an alleged return in a few weeks. It is not the first time such claims are issued, although this project is better off dead and buried.
Another Attempt at Reviving BitConnect
Most cryptocurrency enthusiasts are all too familiar with the concept of BitConnect. It is a well-known Ponzi Scheme which came to an abrupt end quite some time ago. Although its business model clearly indicated this platform would not remain operational for too long, many people decided to take a gamble on BitConnect regardless. As a result, the scam thrived for several months on end, and a lot of people lost good money in the end.
To date, most of the stolen funds have not been recovered by the rightful owners. Despite there being numerous lawsuits against BitConnect and its promoters –…