@DK鼓山老鱼

When it comes to the scams in the cryptocurrency world, BitConnect is undoubtedly an unavoidable "benchmark"—this project, involving a staggering $2.4 billion, has been directly classified by the U.S. Department of Justice as a "textbook" Ponzi scheme, sweeping away the hard-earned money of countless investors worldwide.

The story begins in February 2016, when Indian Sathish Kumbhani launched the BitConnect platform, promoting a gimmick of "lending and mining." The platform boasted loudly, claiming to have exclusive trading bots and volatility software that could guarantee profits in the cryptocurrency market, and confidently promised: as long as investors lent their virtual currencies to the platform, they could receive daily returns of 1% and nearly 40% annualized compound interest.