USI withholds all payments MAJOR BITCOIN SCAM?

After USI Tech has terminated it's USA and Canadian members. Getting an emergency cease and desist order

They blamed youtubers for all of it

USI-Tech faced increasing pressure to prove it wasn’t a Ponzi scheme following a securities fraud cease and desist issued in Texas last month.

One important point on the “blame the affiliates” game, it gives them an excuse (per their TOS) to stiff all their US and Canadian investors/affiliates.

They speak of an audit and reserving the right to claim damages against the affiliates they say made them “look” illegal, those damages will be monetary in nature and deducted from what ever money the affiliates expect to be refunded.

Gutting invested US funds from USI-Tech will likely collapse the Ponzi outright, so I’d estimate the majority of US investors aren’t going to get their money back.

Rather than comply with USI-Tech’s request to scrub evidence to assist its owners stealing your money, if I was an investor in the US and Canada I’d be filing a complaint with the relevant authority.

For USI-Tech investors in the rest of the world, with respect to USI-Tech being a Ponzi scheme – you now have your answer.

Still no ICO whitepaper
Not much proof of mining

and today this

KEY PART
""Until these investigations are completed, we are barred from making any payments to prevent additional abuses."

Updates on USI TECH..
Dear partners,

Our decision for the US and Canada was not easy for us as a company. From the beginning, we have fought for this market with all of the opportunities available to us despite all opposition.

We have frequently denounced the misconduct of many partners in the US and Canada regarding the misrepresentation of our products and our company, and we have pointed out the risks and possible consequences many times.

We have threatened partners with exclusion due to their misconduct, but this has not led to changes in behavior. On the contrary, the portrayals of our business have become increasingly negligent.

This triggered increasingly difficult disputes with regulatory authorities.

In the end, our advisors urged us to discontinue market access for our partners in the US and Canada to avoid more serious damage to the company.

All further action in the US and Canada is now in the hands of our legal advisors. All subsequent steps will only be carried out on the basis of legally-compliant instructions from our advisors. Of course, we will provide information on timekeeping in any case.

Regrettably, investigations have found many abuses regarding double accounts and false accounts that have been used for unlawful payouts. We will also prosecute these abuses to the fullest extent of the law.

Until these investigations are completed, we are barred from making any payments to prevent additional abuses.

Again, we would like to point out that all misconduct worldwide with respect to misrepresentations or potential manipulation of our system will be punished with immediate expulsion from the company.

We look forward to continuing our successful cooperation with all reputable business partners and customers so that we can continue our unique success story.

Best regards,

Management

So they have a unicorn trading bot no one can see, a zero energy mining platform ICO. No proof, They are one of the top miners after releasing a film in geneisis mining farm, Where Genisis claimed to have nothing to do with them and were treating at a security threat. After that USI said it proof they both have an NDA, YEAH RIGHT??

If this ponzi collapses it will be bad press for crypto. Will it the price drop

Will noobs pull out of bitcoin altoether after this horror story?

Millions of dollars of bitcoin USI will hold,

Is there proof of this investigation

NOT REALLY

This seems to be the beginning of the end for multiple crypto scam sites that targeted the wave of new uneducated investors.

Experts expect the Federal government of the USA to review the Texas securities board's findings and implement a nationwide ban on Bitconnect in the coming weeks, that is if Bitconnect doesn't ban them first.