I'm not condoning BitConnect's behavior in any way mind you, but you have to give them credit where credit is do, and for the creators to walk away scot-free, while the top promoters take all the blame and punishment, one has to admit... that it is a pretty genius move on their part.
I don't know if you saw or heard about the class action lawsuit that was just fired up out of the state of Florida, but it lists a few familiar names, all of which being top promoters of BitConnect during its glory days.
It includes CryptoNick, Trevon James, and Craig Grant just to name a few, and below is an image which identifies them as the culprits in one of the biggest cryptocurrency scams of all time:
Simply tap or click here to view the entire BitConnect class action lawsuit.
Now, I imagine that the original creators of BitConnect were so smart in fact, that even these top promoters listed above have no idea who they are, so even when the feds squeeze these guys, they'll have nobody to give up.
Like I said, pure genius... well evil genius is more like it.
Check out this image below, which showcases how much money some folks have lost investing in BitConnect:
That's just 6 individuals, so just imagine how much money people were scammed out of overall?
A lot more people if I had to guess, will most definitely be jumping on this class action lawsuit train ride as well going forward.
Oh, and before you go arguing that these people didn't do anything wrong, if you were around, it was obvious these top promoters knew BitConnect was coming to an end.
Glenn Arcaro deleted his entire channel just weeks before BitConnect's destruction, Trevon James started removing his referral links, and was no longer discussing it on his channel about 2 weeks before it fell, and many other top promoters were distancing themselves a mere weeks from BitConnect's ultimate demise.
Coincidence..? I think not.
My guess is, is that these peeps are fucked, and for good reason, but do you want to know why these guys are so so fucked?
Because the United States was just waiting for something like this to happen, so that they can throw the book at folks like these, in order to set a major example as to what happens when you participate in cryptocurrency scams, or all scams for that matter.
What say you guys and gals, how bad will it get for these people, and how big do you think this class action lawsuit will get?