What looked too good to be true ended up being just that, as Bitconnect has all but closed its doors.
Long accused of being a Ponzi-scheme, Bitconnect shut down its cryptocurrency exchange and lending service this week. As stated on their website, Bitconnect had received cease and desist letters from two American securities regulators - leading to the closure of their lending and exchange platforms. Still, Bitconnect will continue to run its website and wallet service.
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