Bitconnect suffers a second lawsuit case

Controversial cryptocurrency investment scheme is to recoup customer’s losses
30 January 2018   752

A lawsuit, second in a row for the past month, was submitted by a Kentucky resident Brian Page in connection with BitConnect. As the news of the platform shutting down hit the Internet, the price of BCC plunged that resulted in customers’ losses. Mr. Page with the lawsuit is trying to recoup his losses. The accusations are that BitConnect is operating a Ponzi scheme as BitConnect claimed to to provide a monthly return of 40 percent.

The suit also concerns an Oklahoma resident Ryan Massen. It is said that Mr. Maasen acted as an unregistered agent for BitConnect, and used the misleading potential of returns to profit from fooled investors.

This lawsuit however limits itself to the companies only associated with BitConnect and Mr. Maasen.

Twitter reactions are malevolent and somewhat righteous:

@Rellsince86 said «Funny how all these Bitconnect guys keep deleting videos but then also saying «I didn’t do anything wrong» lol we shall see what happens».

@rocco8081 said «These people are going to screw up the entire market because they could not think for themselves! These individual people suing should have never invested in the first place».

@loudcrypto3 said «When will people learn!?! Do your research!».

@evstigneeff said “«Yeah! All "lending" crap should get sued!!!».

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   90

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.