The FBI is now openly seeking information regarding the controversial Bitconnect scheme from the $2.5 billion cryptocurrency Ponzi scheme’s victims. It would appear the US government is hoping its victims may bring some of those responsible to justice.
FBI taking applications and gathering information from Bitconnect victims
It has now been more than a year since the Bitconnect scheme came to a grinding halt. However, it will likely take several years until the Bitconnect debacle has been entirely settled – if it ever is.
Nevertheless, the FBI appears to be doing its part, as it is now openly gathering information and taking applications from victims through its website. Moreover, the FBI will reportedly reach out to those deemed sufficiently interesting to assist with the investigation.
The FBI also released an extensive blurb, detailing the run-up to Bitconnect’s ultimate closure:
”By mid-December 2017, BCC boasted a market cap of over $2.5 billion. Bitconnect guaranteed investors up to a 10 percent total return per month on their investment, following a tiered-investment system based on the sum of an investor’s initial deposit.”
Furthermore, the FBI also noted how disastrous the fallout of Bitconnect’s closure became for those holding Bitconnect Coin. As failed Ponzi schemes often do, the ruse hit hard against consumers who had invested in good faith.
”The entire market for BCC crashed in late January 2018, after two US state-level securities regulator issued public letters warning investors of the Ponzi-type nature of Bitconnect. This led to Bitconnect completely shutting down its exchange for BCC, eliminating the market for the cryptocurrency and stranding investors with near-worthless cryptocurrency.”
First potential victim in touch with the FBI reportedly from Ohio
The FBI has reportedly faced difficulties in identifying investors in the Ponzi scheme, due to the anonymous nature of cryptocurrencies. Any potential Bitconnect victims reading this should, therefore, consider reaching out to provide assistance to the FBI.
Any and all information could potentially aid the FBI in bringing those behind the Ponzi scheme to justice. It is, however, quite probable that it will be a long time before authorities will get to the bottom of the Bitconnect scandal.
Nevertheless, the fact that the FBI is actively reaching out to victims of the scandal seems to be a good step towards getting some more clarity in the case. Furthermore, it already seems to be working, as the FBI reports that an Ohio victim has reached out to them.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the blockchain industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.