• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    mining

    Increased Demand Requires Increase in Nodes. Here’s Everything You Need to Know About Bitcoin Mining During Lockdown

    Bitcoin wallet

    BitcoinOfficial.org- Create a Bitcoin Wallet. Official Website.

    Bitcoin price

    What Drives Bitcoin Price?

    Mining

    Railway Authorities in Ukraine Shut Down Unlawful Mining Outfit

    Bitcoin

    Economic Crises Will Not Affect Bitcoin: Ledger Founder

    Supply and Demand

    Bitcoin’s Demand and Supply Dynamics are Constant: Bitwise COO

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    price prediction

    Bitcoin, Ethereum, and Ripple Price Prediction in June 2020

    XTZ

    TEZOS (XTZ) Join the Top 10 Crypto Coin List

    MakerDAO

    MakerDAO to Implement New Security Feature After Loophole Detected in System

    BCH

    BCH Successfully Completed a Scheduled Fork, Added Minor Upgrades

    CUSD Stablecoin

    Canadian BVCI Launches Another Stablecoin CUSD

    EOS network

    EOS Network Is Running on Borrowed Resources After EIDOS Airdrop

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    decentralized vs centralized

    Decentralized versus Centralized – a Mystery or the Exchange of Tomorrow?

    3 mistakes to avoid when exchanging your crypto assets

    3 Mistakes To Avoid When Exchanging Your Crypto Assets

    types of card fraud

    5 Types of Card Frauds You Need to be Aware Of

    best crypto airdrops

    List of the Best Crypto Airdrops for July 2022

    How to Withdraw Money from Crypto.com

    How to Withdraw Money from Crypto.com

    4x.fm

    4x.fm Launches a New Copy Trader Technology

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

The Individual Behind the BitConnect Scam Schemes Was Arrested

Adriana M. by Adriana M.
August 20, 2018
in Altcoin News, Latest News

Divyesh Darji, the person behind BitConnect India’s scam, was arrested by the police in Delhi airport after landing from Dubai. He is accused of inappropriate promotion of the Indian company.

On 18 August, Divyesh Darji, the promoter of BitConnect, was detained by immigration authorities when he landed in Delhi Airport, as reported by local media.

Following its release of ICO back in December 2016, BitConnect’s market cap has grown up to $ 2.6 billion. The success was reported before the company was considered a Ponzi scheme and one of the biggest scam platforms in the crypto space.

After the coin fell in January 2017, Darji was one of the supporters of BitConnect in Asia in general, but especially India. He has been involved in numerous conflicts, including a 2,000 Bitcoin theft (from investors) worth of BitConnect coins.

BitConnect= Scam

Suspicions such as BitConnect would be a scam platform came after the company promised investors a monthly return of 60%, while the crypto market was not exactly balanced. Darji has consistently been involved in the promotion of the scam on social media and organized extravagant events across India.

BitConnect was shut down in January 2018 after the scam operations came out.

After being forced to close its doors, several BitConnect members involved in scam schemes were arrested. Many of them have fled the country since January. The promoters include Indian personalities and politicians such as Satish Kumbhani, Dhavl Mavani, and Suresh Gorasiya.

PG Nawade of the Gujarat Police explained how the arrest took place:

“Darji was living in Dubai. A look-out circular was issued against him. The Immigration Department alerted us when he was on the way from Dubai to Ahmedabad, after which he was arrested today evening. The company came into existence in 2016, and in 2017, it launched the Bitconnect coin. It remained active till January this year. It released 2.80 crore coins, out of which 1.80 crore coins were sold to investors. The accused held seminars, events in India and other countries promising high interest — daily interest rate of 1 per cent — on investment in Bitconnect coins. The cost of one Bitconnect coin on January 16, 2018, when the company shut down, was USD 362.”

According to the police, 169 Bitcoins and 8kg of gold were confiscated following the investigation. Speaking to the Times of India, Ashish Bhatia of Gujurat CID explained:

“The company was registered in the UK and had an office in Surat. They launched their own ‘bitconnect coins’ soon after demonetization. They promoted the company on social media and by holding gala functions in cities across the world. They lured investors with 60% monthly interest, and incentives in the form of ‘referral interest.”

Tags: BitcoinBitConnectCryptoICOIndiaponziscam
Previous Post

Three Chinese Hackers Stole Cryptos Worth of $87M

Next Post

Pornhub Subsidiary Tube8 Awards Visitors with Cryptos for Watching Porn

Adriana M.

Adriana M.

Invest at your own risk notice : The information on this website and the links provided are for general information only and should not constitute any financial or investment advice. We strongly recommend you to conduct your own research or consult a qualified investment advisor before making any financial decisions. We are not responsible for any loss caused by any information provided directly or indirectly on this website.

Related Posts

What Is “Play-to-Earn” Gaming?

by Hellen
May 19, 2022

To think about all the ways that life has changed over the last twenty years thanks to the unprecedented rise...

health blockchain

Patient Data-Ownership Movement Launched

by Hellen
April 15, 2021

EHR Data has been hard at work for the past couple of years in developing a global healthcare database on...

Froge Coin

FROGE Coin Is Now Live – Get It While It’s Fresh

by Hellen
March 10, 2021

Today marks the launch of the biggest meme coin competitor- Froge Coin . The blockchain is an all-in-one cryptosystem that...

Wright

Craig Wright: Bitcoin Is Not Anti-bank

by Hellen
March 8, 2021

Bitcoin creator and nChain chief scientist Dr. Craig S. Wright, explains in detail the Bitcoin white paper he wrote in...

price prediction

Bitcoin, Ethereum, and Ripple Price Prediction in June 2020

by Anca F.
May 28, 2020

We will be reviewing some of the historical price trends and market opinions so that we can formulate a price...

teenager

In One Day A 15 Years Old Teenager Earned 0.7 BTC!

by Hellen
May 14, 2020

In the USA (Miami, Florida), a 15 years old teenager earned 0.7 BTC in one day. The teen’s name is...

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

Guides & Reviews

decentralized vs centralized

Decentralized versus Centralized – a Mystery or the Exchange of Tomorrow?

July 19, 2022
3 mistakes to avoid when exchanging your crypto assets

3 Mistakes To Avoid When Exchanging Your Crypto Assets

July 13, 2022
types of card fraud

5 Types of Card Frauds You Need to be Aware Of

July 7, 2022
best crypto airdrops

List of the Best Crypto Airdrops for July 2022

July 1, 2022
  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.