FBI seeking potential victims in BitConnect investigation

The FBI is seeking potential victims who invested cryptocurrency BitConnect coin, more commonly known as BCC.

According to the Cleveland Division of the FBI, BCC was first released through an initial coin offering orchestrated by BitConnect in November 2016.

For a majority of BCC’s existence, the only place to purchase, trade, or sell the cryptocurrency was through the proprietary exchange hosted by BitConnect. By mid-December 2017, BCC boasted a market cap of over $2.5 billion. BitConnect guaranteed investors up to a 10 percent total return per month on their investment, following a tieredinvestment system based on the sum of an investor’s initial deposit.

The entire market for BCC crashed in late January 2018, after two U.S. state-level securities regulators issued public letters warning investors of the Ponzi-type nature of BitConnect. This led to BitConnect completely shutting down its exchange for BCC, eliminating the market for the cryptocurrency and stranding investors with near-worthless cryptocurrency.

Those who invested in Botconnect can complete a questionnaire found at bit.ly/2U2UCx5.

Responses are voluntary. The Cleveland Division of the FBI stated they would be useful in the federal assessment of this matter and to identify BCC investors and potential victims.

Based on the responses provided the FBI may contact you and ask to provide additional information.