Livecoin Exchange to Delist BitConnect

Livecoin exchange will delist BitConnect (BCC) on March 7
19 February 2018   603

Livecoin cryptocurrency exchange has announced on February 7 that it will delist BitConnect (BCC) assets on March 7, suspending BCC withdrawal and trading.

Dear clients, please withdraw BCC before March 7. This asset will be delisted. Withdrawal and trading will not be available after March 7. Please don't deposit BCC.


Livecoin statement

Bitconnect closed on January 16 its lending and exchange platform, providing three main reasons for the halt of lending and exchange platform: the continuous bad press that created a lack of confidence in the platform, two Cease and Desist orders from Texas and North Carolina and DDos attacks on the platform.

In December, Ethereum founder Vitalik Buterin and Litecoin founder Charlie Lee, have spoken up against Bitconnect, calling it a Ponzi scheme.

Charlie Lee bcc

Meanwhile, BitConnect continues to raise funds to finance its ICO BitconnectX, promoted by an army of promoters in Indonesia and Asia.

Turkish Crypto Founders robbed Investors for Millions

Turkish residents became the victims of huge scam: Turcoin, “national” digital currency, was founded to be a Ponzi scheme, its founders ran away with money
19 June 2018   42

As claimed in the Turkish Minute, the founders are supposed to have cheated about 10,000 investors for at least 100 million Turkish lira (around $21 million). Nevertheless, the Ahval News informed the stolen amount to be 1 billion Turkish lira ($212 million), making it one of the largest scams to date.

The coin was ran by the firm Hipper, placed in Istanbul. The exchange was established by Muhammed Satıroğlu and Sadun Kaya last year. They organized a massive marketing campaign for the promotion of the coin and arranged the parties attended by many Turkish celebrities. The word about the cryptocurrency exploded as the firm gave away luxury cars to its early adaptors in October last year.

The business model of the coin has likeness with classic Ponzi schemes as the organization was rewarding the existing investors who were attracting new participants. The suspicion for the model increased over time and shadiness of its business were affirmed as the company ceased paying bonuses from early June.

I was only a mediator. Our company Hipper does not even have a single dollar in the bank. All the money went to Sadun Kaya’s company in Cyprus. I have not fled with the money. I will return all the money to the members if authorities unblock my bank accounts.
Muhammed Satıroğlu
Stakes Owner, 49 Percent of Hipper

The real causer seems to be Sadun Kaya, the majority partner of Hipper, who stopped answering phone calls of his business partners.