Indian Government Freezes $189 Million in Bitconnect Ponzi Scheme

[Suba]

According to Enforcementdirectorate.gov.in, on Feb 15, 2025 the Indian government/authorities have frozen $189 million worth of crypto related to the Bitconnect ponzi scheme. Apart from crypto, cash worth 155 thousand, Lexus cars, various devices have also been seized,

Bitconnect has been operating since 2016, where the suspects have defrauded many victims from both Indian and foreign countries. Bitconnect employs promoters around the world to attract as many investors as possible and these promoters will get commission from the investors they recruit. Investors are promised to get more than 40% profit in a month.

 

[Starmix]

There is no business that would thrive like that. I joined a business like that in my country but it lasted only 4 months. The operator was a young IT expert. He became billionaire but all his asserts and billion were frozen. He was jailed together with his wife.

 

[Suba]

There is no business that would thrive like that. I joined a business like that in my country but it lasted only 4 months. The operator was a young IT expert. He became billionaire but all his asserts and billion were frozen. He was jailed together with his wife.

In my country, platforms for raising funds, investments or others must be registered with the Financial Services Authority, if not, it means it is illegal, we as investors will also easily detect online whether the financial platform is legal or not, unless the site or platform from abroad cannot be detected.

 

[Starmix]

In my country, platforms for raising funds, investments or others must be registered with the Financial Services Authority, if not, it means it is illegal, we as investors will also easily detect online whether the financial platform is legal or not, unless the site or platform from abroad cannot be detected.

It was registered on SEC but the NBI is croc , even Korina Sanches and celebrities invested in that site FrancSwiss. The site was seen on the web and we can see how our money works. I invested $ 2,000 and profited $ 1,000 in a week.

 

[Fidelia]

It is a good thing that the Indian government discovered it early. Those people are the ones making crypto to feel like a scam.