RE: What happened to the bitconnect scammers?
Bitconnect was a high-yield cryptocurrency investment Ponzi scheme that collapsed in 2018, with millions of dollars left unreturned to investors. The promoters fled, however, multiple legal actions have been taken since then. While several remain at large, a few key figures have been apprehended: 1. Divyesh Darji, the head of Bitconnect in India, was arrested in August 2018 by the Gujarat CID. 2. In January 2019, the FBI arrested Bitconnect promoter, Trevon James after ongoing investigations. 3. The Australian Securities and Investments Commission (ASIC) banned John Louis Anthony Bigatton, a Bitconnect promoter, from providing financial services for seven years. Not all Bitconnect scammers have been caught and punished, and many victims are still dealing with their losses. International law enforcement agencies are still investigating the case due to its global reach. The Bitconnect case stood as a stark reminder for investors to exercise caution and conduct extensive research before investing in new cryptocurrencies or platforms.