What Happened to BitConnect's Market Cap?

Originally, I was going to post about BitConnect as a warning to people that are tempted to put their cryptoassets there. While it hasn't been officially confirmed, there are so many telling signs that BitConnect is indeed a ponzi scheme.

I think many people know this and there have been many YouTube videos and articles on the Internet about the absurdly high daily interest rate and the suspicious "volatility" machine that generates the company the supposed massive returns. What had me worried are the many advertisements that I see of people that have "made money" on BitConnect, encouraging people new to crypto to invest there.

If it is indeed a ponzi scheme, it's difficult to determine whether the people affected by such scheme will be remunerated for their losses, as it was the case for the Bernie Madoff case. The reason that it's different this time is that in crypto, there may not be a way to take money away from some investors who received ill gotten gains and redistribute them to the investors that suffered the losses. We'll see how it all plays out. And we have to remember that BitConnect is based in Asia.

At one point, it was listed as the 7th largest crypto currency on coinmarketcap.com. Now it's ranked 17th.

On November 3rd, the market cap dropped from over $2B to $600M, a drop of 70%. The explanation that I've found online for the massive drop is the way the site now calculates the coins outstanding. To my understanding there have been other coins affected in a similar manner.

I don't have the answers but I think from BitConnect's perspective, they may think that they're better off being lower in the charts. That way they can be subject to less scrutiny from the regulators and the media. I hope that when the cats out of the bag, it doesn't take the rest of crypto down with it.