BitConnect Shuts down the Exchange Site After Controllers Warnings 

Suzette Paulsen

Suzette Paulsen

January 17, 2018 7:26 am

BitConnect Shuts down the Exchange Site After Controllers Warnings | Coindelite News
4976 Total Views

BitConnect Shuts down the Exchange Site After Controllers Warnings

The company behind the debatable cryptocurrency BitConnect has declared that it will shut down its loaning and exchange platform.

BitConnect’s loaning service will be shut down, while its exchange platform will shut in 5 days, as indicated by a post on its site distributed Tuesday.

The post clarified:

“In short, we are shutting loaning service and exchange benefit while BitConnect.co site will work for wallet service, news, and educational purposes.” 

The declaration accuses a mass of features, maybe most notably the cease-and-desist letters issued as of late from controllers in Texas and North Carolina.

The two letters expressed that BitConnect was taking part in the offer of unregistered securities tied to a token sale.

The BitConnect group composed:

“We received two Cease and Desist letters, one from the Texas State Securities Board, and one from the North Carolina Secretary of State Securities Division, these activities have turned into a block for the legitimate continuation of the platform.” 

The post likewise blamed “terrible press” that has “made group individuals uneasy and made an absence of trust on the stage.”

BitConnect has been blamed for constituting a Ponzi scheme, and a few figures in the space, including the author of Ethereum, Vitalik Buterin, have demanded reactions against it in recent months.

The BitConnect group additionally blamed a string of committed DDoS.

Earlier Jan. 13, BitConnect’s Twitter account has pointed the finger at DDoS assaults on issues with its site.

However regardless of the stop this instant letters, BitConnect said that its advance beginning of initial coin offering (ICO) will proceed and that it is building a different exchange for the BitConnect token.

The group added:

“This isn’t the finish of this group, however, we are shutting a portion of the services on the site platform and we will keep offering other cyptocurrency[sic] benefits later on.” 

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Japan’s Financial Regulator will be Conducting Inspections on 15 Unregistered Crypto Exchanges

The Unregistered Crypto Exchanges to get inspected by Japan’s Financial Regulator According to the reports, Japan’s Financial Services Agency (FSA) announced that it is conducting on-site inspections of 15 cryptocurrency exchanges that are currently awaiting registration in the aftermath of the Coincheck hack. Japan-based crypto exchange Coincheck was hacked on …

US Government will not Pass Bitcoin Regulations Soon

White House Official said Crypto Regulation is not for soon One of the White House officials told that the US government would not be passing any Bitcoin Regulations. Rob Joyce, who is a special assistant to the president and White House cybersecurity coordinator, said during an interview with CNBC that …

Ellen DeGeneres explains What is Bitcoin and How Does it Work?

What is Bitcoin and how does it work, Ellen DeGeneres Described Well, TV host Ellen DeGeneres took herself to explain to her audience what cryptocurrency is. Ellen described that bitcoin is like a stock market where people can make money off of it, but said that she’d “rather own a …

-->

Pin It on Pinterest

Shares
Share This