Did you miss out on this surge again?这一波上涨是不是又没赚到?
Which sectors should we buy into today?今天该抄底什么板块? Yo yo yo, degenerates and future millionaires! 🚀
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BitConnect's lending and mining Ponzi scheme is one of the most representative major scams in the cryptocurrency world, with the amount involved reaching $2.4 billion, described by the U.S. Department of Justice as a 'textbook' Ponzi scheme.
The platform was launched in February 2016, founded by Indian citizen Satish Kumbhani, and its core scam was the 'lending and mining' project. The platform falsely claimed to have exclusive trading bots and volatility software that could generate high profits from trading in the cryptocurrency market, promising investors that lending virtual currency would yield daily 1% and nearly 40% monthly compound returns. Additionally, it expanded through a multi-level referral reward system and engaged several KOLs for intensive promotion on platforms like YouTube, with some promoters earning over $2.6 million from referral commissions; some even claimed at promotional events that the token price would rise to $1,000.
In reality, the platform had no profitable trading business; the so-called returns were entirely dependent on funds from new investors being paid to old investors. Investors needed to first exchange Bitcoin for the platform's issued BCC tokens before lending, and the platform also artificially manipulated BCC prices to create hype. In December 2017, the price of BCC soared to $463, reaching a historical high, and its market cap even entered the top 20 in the cryptocurrency space, attracting a large number of global investors.
Ethereum's founder publicly pointed out long ago that it was a Ponzi scheme. In January 2018, regulators in Texas and North Carolina issued shutdown orders, and the platform promptly announced the closure of its exchange and the suspension of lending operations. The price of BCC instantly collapsed, falling to $5.92 by the end of the month, and the platform's so-called plan to repay loans using tokens at an exchange rate of $363.62 became meaningless as the token's market value dropped below $10.
U.S. courts froze the platform's assets and launched an investigation; core promoter Glenn Arcaro was sentenced to 38 months in prison after pleading guilty and was ordered to pay over $17.64 million in restitution to victims; five core promoters were sued by the U.S. SEC for illegally selling unregistered digital asset securities. An Australian promoter was convicted for providing unlicensed financial advice, and founder Kumbhani has been on the run since being indicted, with judicial authorities in multiple countries still pursuing relevant parties.
BitConnect's lending and mining Ponzi scheme is one of the most representative major scams in the cryptocurrency world, with the amount involved reaching $2.4 billion, described by the U.S. Department of Justice as a 'textbook' Ponzi scheme.
The platform was launched in February 2016, founded by Indian citizen Satish Kumbhani, and its core scam was the 'lending and mining' project. The platform falsely claimed to have exclusive trading bots and volatility software that could generate high profits from trading in the cryptocurrency market, promising investors that lending virtual currency would yield daily 1% and nearly 40% monthly compound returns. Additionally, it expanded through a multi-level referral reward system and engaged several KOLs for intensive promotion on platforms like YouTube, with some promoters earning over $2.6 million from referral commissions; some even claimed at promotional events that the token price would rise to $1,000.
In reality, the platform had no profitable trading business; the so-called returns were entirely dependent on funds from new investors being paid to old investors. Investors needed to first exchange Bitcoin for the platform's issued BCC tokens before lending, and the platform also artificially manipulated BCC prices to create hype. In December 2017, the price of BCC soared to $463, reaching a historical high, and its market cap even entered the top 20 in the cryptocurrency space, attracting a large number of global investors.
Ethereum's founder publicly pointed out long ago that it was a Ponzi scheme. In January 2018, regulators in Texas and North Carolina issued shutdown orders, and the platform promptly announced the closure of its exchange and the suspension of lending operations. The price of BCC instantly collapsed, falling to $5.92 by the end of the month, and the platform's so-called plan to repay loans using tokens at an exchange rate of $363.62 became meaningless as the token's market value dropped below $10.
U.S. courts froze the platform's assets and launched an investigation; core promoter Glenn Arcaro was sentenced to 38 months in prison after pleading guilty and was ordered to pay over $17.64 million in restitution to victims; five core promoters were sued by the U.S. SEC for illegally selling unregistered digital asset securities. An Australian promoter was convicted for providing unlicensed financial advice, and founder Kumbhani has been on the run since being indicted, with judicial authorities in multiple countries still pursuing relevant parties.
Airdrop SZN: The celebration for holders has just begun The XAI ecosystem has not only $XAI but also an endless “golden shovel” effect. The recently announced Airdrop SZN plan shows that over 12 cooperative projects (such as Valeria, RiftStorm, Planet X) have promised to airdrop tokens to XAI node holders. This is not just a one-time reward, but a continuous cash flow. Holding a Sentry Key is equivalent to holding an “ETF fund” of the XAI ecosystem. For every successful game on XAI, you can share in the profits. This kind of “one fish, multiple meals” investment return is particularly precious in the current market.
@XAI_GAMES @CZ @Yi He $XAI {spot}(XAIUSDT)
📢 Urgent Notice: In order to protect the Xai brand from the influence of Musk's xAI company, Ex Populus has taken legal action. We safeguard your every trust. More details: http://news.expopulus.com.
The market will never move according to everyone's expectations. Patience in sideways trading, calm observation during declines, and restraint in taking profits during rises are all essential.
Greed can cause you to miss the best moments to take profits, while fear may lead you to cut losses before dawn. Only by controlling your hands and stabilizing your heart can you stand firm in the volatile cryptocurrency market. #加密市场反弹 #加密市场观察 $BTC $ETH $BNB
Florida seizes $1.5 million in cryptocurrency linked to Chinese suspect
On December 12, according to Decrypt, Florida prosecutors announced the successful seizure of approximately $1.5 million in cryptocurrency, which is associated with a Chinese suspect, Tu Weizhi. The case originated from a report in July 2024 by a resident of Citrus County who lost $47,000 in an investment scam. Investigators traced the flow of funds and found various cryptocurrencies in the involved wallets, including $AVAX {future}(AVAXUSDT) , $DOGE {future}(DOGEUSDT) , PEPE, and $SOL {future}(SOLUSDT) . Florida Attorney General James Uthmeier stated that authorities used Florida's fugitive waiver framework to seize the assets. The suspect is currently in China and will be arrested if attempting to enter the United States.
🐶🔥 BONK COIN: THE SOLANA SHIBA IS BARKING LOUDER THAN EVER. 🔥🐶
Bonk is back in action with massive community strength and unstoppable momentum. The Solana meme king is showing pure energy—rapid growth, rising volume, and nonstop hype across socials. BONK isn’t just a token; it’s a movement powered by the fastest-growing ecosystem!
The Bonk army is awake. The chart is alive. The vibe is electric. Get ready—BONK season is just getting started. 🚀💥