The trouble with bitconnect is that it is awesome...... while it pays out. When it crashes it is big enough to do serious damage to the entire world of crypto.
Regarding being investigated, this wont happen yet as no one will complain as everyone is still being paid and its based in Asia (Vietnam I believe) and so its very difficult for western agencies to investigate, even if they feel it has jurisdiction.
The whole thing is more complex than a classic Ponzi, where original investors are paid out with new investors money. In bitconnect you invest bitcoin, convert it to BCC token, yet invest in US dollar amounts and are paid out in US Dollar amounts. You have to trade out via BCC token. This is a completely pointless and unnecessary step. Unless of course, you want to completely control the market!
BCC token had a large pre mine, so the operators control most of the supply side of BCC token, as well as controlling the interest rate their 'bot' pays out etc.
I agree this is a scam, however, I think it has a lot longer left to run. When it collapses it will do immense damage to the world of crypto (prob similar to the Mt Gox failure). When this happens I expect the law to come looking for those at the top of the pyramid!
Its not the first time:
RE: The ShitConnect Ponzi Train Can't Be Stopped (The Ugly Truth Inside)