The millions will be distributed among the select number of victims, but thousands more were impacted by the $2.4 billion fraudulent scheme.
SEC unable to locate BitConnect founder convicted in $2.4B fraud case
BitConnect founder is being sued for illegally raising funds and defrauding American investors of over $2 billion.
DOJ indicts BitConnect’s Indian founder for $2.4B crypto Ponzi scheme
A San Diego-based federal grand jury charged Kumbhani for orchestrating an alleged Ponzi scheme via BitConnect’s “Lending Program” among other allegations.
Appellate court decision allows Bitconnect class action to proceed
The superior court has reversed a lower court’s decision, making it possible for a class action to proceed against the promoters of one of crypto’s most infamous scams.
US Justice Dept is selling $56M in crypto to compensate victims of BitConnect’s fraud
“This liquidation is the largest single recovery of a cryptocurrency fraud by the United States to date,” said the Justice Department.
Bitconnect promoter pleads guilty over Ponzi scheme, as platform faces new SEC charges
Former BitConnect promoter Glenn Arcaro has pled guilty to his role in the saga, but the whereabouts of the firm’s founder Satish Kumbhani is unknown.
SEC closes in on settlements with US BitConnect promoters for millions
Four of six U.S.-based promoters of the notorious BitConnect Ponzi scheme have reached settlement agreements with the SEC.
Alleged Promoter of BitConnect Crypto Scam Charged in Australia
The accused faces a lengthy prison sentence if convicted.
Australian Financial Watchdog Bans Local BitConnect Promoter for 7 Years
The Australian man was banned from working in financial services by the Australian Securities and Investment Commission.
BitConnect Promoter Wanted Over Another Alleged Crypto Scam
A promoter of the now-shuttered crypto fraud BitConnect has again been charged over a different claimed cryptocurrency scam.
FBI Seeking Potential Victims of BitConnect to Assist Investigation
The FBI is reaching out to those who invested in the now-worthless BCC token offered by the defunct crypto exchange BitConnect.
New BitConnect Lawsuit Combines Previous Efforts Against Crypto Scam
BitConnect investors hoping to recoup their losses have consolidated all existing lawsuits against the startup into one.
Senior BitConnect Promotor Arrested by Indian Authorities
Former BitConnect India head Divyesh Darji was arrested at Indira Gandhi International Airport in New Delhi on Sunday.
YouTube Accused of Negligence in BitConnect Fraud Lawsuit
The drama around the shutdown of the controversial BitConnect’s lending and exchange platform continues.
Bitconnect Promoter Claims FBI Investigating Defunct Crypto Scheme
Bitconnect promoter Trevon James confirmed Monday that he is speaking with an FBI agent over his involvement with the defunct investment scheme.
US Securities Regulator Rejects BitConnect Records Request
The SEC has turned down a FOIA request related to BitConnect, citing an exemption commonly seen with records related to law enforcement.