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Bitconnect 2.0 Entering the Market Again

Bitconnect 2.0, a project accused on suspicion of scam and violation of securities law, will enter the market again on July 1. Cryptocommunity reacted negatively to the announcement.

This is the first time the project has announced itself since January 2018 when Bitconnect had closed the crediting program. Many representatives of the community, including Vitalic Buterin and Charlie Lee, called the project a financial pyramid.

The suspicion was also caused by the promise of gaining 120% of annual profit for any sum spend on a purchase of Bitconnect Coin, but as soon as the credit platform had closed, the coin’s rate lost 96%. The company has stopped the activity due to the regulators’ demand of the Texas and South Karolina authorities, who accused the project of distributing the unregistered securities under the guise of tokens.

The objective of Bitconnect 2.0 is not yet clear. The official website doesn’t contain any information. The cryptocommunity reacted negatively to the twit; the project appears to start a new scam.

There was information that Goxtrade, a cryptoexchange, is suspected of fraud.