What really happening with bitconnect coin? As of now, no one can be sure what is happening as there are no news covering bitconnect. As usual twitter from bitconnect was nothing more than useless in situation like this.
Look at this ridiculous chart, flash crashed to 38$ and briefly recovered to 90$ :
Sell orders was just all over novaexchange!
My theory was kinda right, I suspected someone dumped a lot of BCC at low price. Told by some sources, someone exploited some bug inside bitconnect wallet, allowing him/her to double his BTC/BCC. The culprit deliberately dump BCC in huge amount at low price. Intentionally to crash the market. Minutes later the site is down for maintenance.
Youtuber Trevon James witnessed such glitch too when he tried to withdraw his profit from BCC. His BTC wallet double but he couldn't withdraw from it. But then he was lucky enough to purchased 70BCC while the price crashes around 40$. Now he earned like 7000$ when the price recovered. But bitconnect made the announcement that they will suspend those accounts who benefited from the glitch.
Bitconnect was not entirely down! Thank god they still able to provide us some insight of what happened.
So this basically what they stated :
We shall be aiming to reactivate accounts by 3:00PM (GMT), 27 August 2017. The issue has been that many members have withdrawn more BTC and BCC than they held in their wallet. This issue is currently under investigation and we will be suspending accounts who benefitted from this glitch temporarily.
We will display a negative balance in the wallets of users who have withdrawn more funds than indicated by their balance. We request those members to refund all funds of BTC/ BCC back into their wallets to protect the value of the community.
Sources : https://bitconnect.co/system-news/72/bitconnect-accessibility-update-glitch-in-the-websites-service/
I also advice checking out the video attached by crypto girl
Youtuber Austin Angler further reassure us that it's not bitconnect attempt of scamming, but result of an unfortunate hacking event. He was trying to send BTC to his wallet on bitconnect.co, but he never get the funds. Video below is his testimonial.
Don't freak out yet guys, let's wait until 27 of aug to see what really happen. I do believe they will sort it out in time, the website is already partly operational! Be safe out there guys! Peace out.
