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BitConnect [BCC] to be delisted from cryptocurrency exchange platform ‘Trade Satoshi’

Priya

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BitConnect [BCC] to be delisted to from cryptocurrency exchange platform 'Trade Satoshi'
Source: Unsplash

The most notable Ponzi scheme in the cryptocurrency space, BitConnect, is going to be delisted from its last exchange platform. The scam is also referred to as one of the biggest Bitcoin scams in cryptoverse. It was one of the most controversial cryptocurrencies in the space at the beginning of this year.

According to CoinMarketCap, at present, the token is listed only on Trade Satoshi and is paired with Bitcoin [BTC], Bitcoin Cash [BCH], Dogecoin [DOGE] and Litecoin [LTC]. Trade Satoshi is a cryptocurrency exchange platform with a volume of more than $1 million. The exchange platform recently announced that they would be de-listing the token from their platform.

Bitconnect [BCC] current market | Source: CoinMarketCap

BitConnect [BCC] current market | Source: CoinMarketCap

The exchange platform announced on Twitter:

“The following coins will be delisted from Tradesatoshi Exchange the 10-09-18 BCC, LBC, EBLU, SLC, BSS, FRX, HYPER, DMCC, JESUS, TPAY.”

Post the delisting from this platform, the BitConnect token will not be available for trade on any other platform. This would officially make it a dead token in the market.

BitConnect was an exchange platform which focused on becoming the world’s first P2P lending platform. The BCC token was one among the top 20 cryptocurrencies in the market during the end of 2017. In addition, the platform is also well-known in the cryptocurrency space because of its promotional conferences. The promotion of the platform which was carried by Carlos Martos, an investor of BitConnect in Thailand is still making turns in the space.

The coin hit its all-time high in December 2017, with a valuation of $463. However, the coin tumbled below $5 in the month of January 2018 because of scam accusations made against the platform. The platform was issued with an emergency cease and desist order from the Texas State Securities Board under the suspicion of being a Ponzi scheme because of the promised returns.

Moreover, in November 2017, the exchange platform was issued with a 2-month notice, within which the platform was required to authenticate itself or dissolve its business by the UK government. Due to all these factors and bad publicity, the exchange platform announced that they would shut down their operations.

Recently, Calen Powell, one of the promoters of BitConnect, announced that he is currently being restrained, threatened and questioned by the FBI.



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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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