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Is Bitconnect Back?
Website Featuring Countdown Teases Bitconnect 2.0
ne of the largest scams in the crypto community seems to be trying to make a comeback. It seems that the Bitconnect is attempting to relaunch. The website features a countdown with an email registration box a Bitmex banner and a link to their twitter account.
What's the Deal with Bitconnect?
For those of you who are new to the space, Bitconnect was a scam like no other. It was a cryptocurrency investment platform that promised a 1% return on their investment daily, no matter what. It operated like many other Ponzi schemes, with promoters promising followers that they would get rich. Many Youtube content creators got involved. Bitconnect reached the top ten cryptocurrency by market cap and was valued $400 per coin at its all-time-high.
Shortly after its all time high, its value crashed to nearly nothing. This left many investors penniless and broke. It gained notoriety as the biggest exit scam in the world of cryptocurrencies and countless memes were created.
Third Time's A Charm
This is not Bitconnect's first attempt at rebranding. Right before its crash, Bitconnect launched an ICO for BitconnectX, their new platform. It is unknown how many tokens they have managed to raise and BitconnectX is not publicly traded. It seems obvious that Bitconnect's relaunch is just another attempt to swindle money from naive investors.
The Internet Reacts
Many across the internet reacted to Bitconnect's relaunch with ridicule. Binance's official twitter has hinted to the scam with a tweet:
"Hmm Hmm No No No! We're hearing rumours around the
revival of a certain project! Stay clear of pyramid and Ponzi schemes. Stay
#SAFU. Learn how to identify and
most importantly protect yourself from pyramid and Ponzi schemes with @BinanceAcademy"
In a similar manner to Gotsatoshi, it could be that Bitconnect is not officially launching & that this is a publicity stunt. The website *does* have a referral link to Bitmex & the website is getting a lot of attention. I suppose that we will only find out after the countdown.