The biggest cryptocurrency scam in the world

Cryptocurrencies are mostly unregulated at the moment, with vaporware projects competing against revolutionary technologies like Bitcoin and Ethereum for investment.

This is evident in the case of BitConnect – which is the 25th biggest cryptocurrency in the world and has a market capitalisation of over $2 billion.

The cryptocurrency was found to be engaging in fraud and the company behind the currency has been served a Cease and Desist order by the Texas State Securities Board.

The emergency cease and desist order was issued on 4 January and states that BitConnect is engaging in fraud and misleading investors.

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