Bitconnect Closing Lending Platform

Logging into Bitconnect only to discover the following message...

Changes coming for the Bitconnect system - Halt of lending and exchange platform

This is to inform all community members that we are closing the Bitconnect lending and exchange platform. We are closing the lending operation immediately with the release of all outstanding loans. With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD. This rate has been calculated based on last 15 days averages of the closing price registered on coinmarketcap.com. You are free to withdraw your BitConnect coin currently in QT wallets that was used for staking as well. We are also closing BCC exchange platform in 5 days. In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes.

The reason for halt of lending and exchange platform has many reasons as follow:

The continuous bad press has made community members uneasy and created a lack of confidence in the platform.
We have received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division. These actions have become a hindrance for the legal continuation of the platform.
Outside forces have performed DDos attacks on platform several times and have made it clear that these will continue. These interruptions in service have made the platform unstable and have created more panic inside the community.
Closing the lending and exchange platform doesn’t mean that we will stop supporting BitConnect coin. Closing the lending platform will allow Bitconnect to be listed on outside exchanges giving more options for trading.

We will keep working to make BitConnect coin available to merchant websites providing them API access to accept BitConnect Coins on their platforms.

BitConnect X ICO is still functional and we are building an exchange platform on the BitConnect X website. With BitConnect X operating as an exchange platform, BitConnect Coin (BCC) will be listed there.

This is not the end of this community, but we are closing some of the services on the website platform and we will continue offering other cyptocurrency services in the future.

Best Regards,

The Team BitConnect

I find this to be a very interesting message on possibly the dawn of the new Bitconnect X ICO, of which US citizens have been placed on the restriction list and prevented form participating. I am a little confused as to why Bitconnect was labeled and scam and continuously talked about all throughout the internet as being and operating as such. What I have found to be the most interesting thing of all, is that a large amount of these people claiming that Bitconnect is a scam, was a scam, still shilled their bit connect affiliate link shamelessly, especially on Youtube.

I guess we will see what is to come, it's a shame as Bitconnect has worked out for so many people, I myself struggle to find an institution or site that will pay you as high as 1% returns on your money. I guess what we don't understand we critique and label.

UPDATE: After doing further research, I see the issue in the schemes being run throughout Bitconnect, it’s platform, and top level promoters. I find this very interesting how this all played out, BCC at the time of the Bitconnect news going live, the BCC coin was worth $363 and some change. HOWEVER... around the time this news broke, the BCC coin worth shot down to $25 per coin and possibly less. This is no coincidence.

CHOOSE YOUR GURUS WISELY!!!

Keep in mind, you only have a few days to move your $BCC (Bitconnect Coins) into an exchange such as HitBTC (https://HitBTC.com). Safe investing...