FBI seeking out investors that lost money in Bitconnect, first victim was from Ohio

FBI seeking out investors that lost money in Bitconnect, first victim was from Ohio

CLEVELAND, OH (WOIO) - The Federal Bureau of Investigation is looking for potential victims that may have lost money in the crytocurrency Bitconnect, not to be confused with Bitcoin.

The company was thriving through their first year of operation, with a market cap of over $2.5B.

Initially, they guaranteed investors up to a 10 percent return on their monthly investment.

Centralized cryptocurrency exchanges use "hot" wallets to facilitate transactions.
Centralized cryptocurrency exchanges use "hot" wallets to facilitate transactions.

But the entire market crashed in Jan. of 2018 after two U.S. securities warned investors of a potential “Ponzi-type” scheme.

According to an FBI spokesperson, the first potential victim identified is from Ohio, they were able to come to the conclusion after she came forward with information.

The FBI is now reaching out to others:

Based on the responses provided, you may be contacted by the FBI and asked to provide additional information.

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