The Team behind the cryptocurrency website Bitconnect decides to close down its exchange website .The team just announced that they will be shutting down the exchange in 5 days. According to a post that was published on their website on Jan 16, 2018.They just close the lending and the exchange service while their website which is Bitconnect will only operate for wallet service as it was explained on the post that was published on Tuesday.
Due to this announcement the value of the bit connect just dropped within 2 days and all the investors got really angry as they have invested a lot of money in this exchange
The main reason of closing the exchange is that we have received a letter from the regulators in Texas and North Carolina. In the letter it was clearly said that the Bitconnect should be regulated .Two letters were received by the Bitconnect Team one was from the Texas State of Securities Board and the other was from the North Carolina Secretary of state securities Division.