Bitcoin funding web site BitConnect may need closed down its fraudulent lending and alternate platform, however its process power of devoted promoters are nonetheless at it – and at the moment are concentrating on gullible “buyers” in Indonesia and different elements of Asia.

Duped BitConnect group members have tipped off TNW that among the firm’s promoters at the moment are actively searching for to recruit potential buyers through native social media channels and WhatsApp teams in Asia.

“Keep calm,” the promoters insisted of their messages. “Don’t get upset. The worth of BCC (BitConnect Coin) will go up inside a number of months. So, simply maintain and save your BCC coin in your pockets.” The messages have been initially delivered in Indonesian, however sources have since helped us to translate them in English.

In line with sources, one of many promoters main the hassle is Mr. Santoso, who has been formally listed as considered one of BitConnect’s many administrators. Actually, a weblog put up from July claims Santoso was lately appointed as the primary promoter for the territory of Indonesia.

Santoso has beforehand promoted the doubtful funding platform in quite a few movies on YouTube.

Regardless of shutting down its lending and alternate legs, BitConnect has continued to simply accept investments in its equally suspicious BitconnectX ICO which has remained energetic. Actually, the corporate is actively encouraging backers to place their remaining BCC cash into the ICO.

Whereas the worth of BCC plummeted from an all-time excessive of over $400 to beneath $20 within the aftermath of the shut-down announcement, BitConnect has promised to “honor” the worth of BCC at $150 – if pledged to the BitconnectX ICO.

As already identified by different shops, the nugatory BCC cash at the moment are used to artificially pump up the worth of the BitconnectX ICO tokens (BCCX). For context, the corporate is presently pricing BCCX at $50. Although likelihood is BCCX will finally observe the identical future as BCC.

One significantly troubling element is that persons are seemingly speeding to pour investments into the suspicious BitconnectX ICO – that’s even though lots of them have been lately fooled by the exact same technique.

Whereas earlier authorized threats addressed to BitConnect did certainly point out the shifty nature of the ICO, the stop and desist orders from the Texas Securities Board and the North Carolina Securities Division prolonged solely to the corporate’s lending and alternate platform.

Sadly, authorities haven’t but taken purpose on the BCCX ICO.

Do your analysis earlier than you pledge your cash to BitConnect, folks: the saga won’t be fairly over but.


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