Bitconnect

Bitconnect Coin
Bitconnect logo
Denominations
CodeBCC
Development
Original author(s)Satish Kumbhani
Initial releaseFebruary 15, 2016[1]
Development statusDiscontinued
Written inC++ C#
Operating systemWindows, OS X, Linux, Android, iOS
Source modelOpen source
LicenseMIT License
Ledger
Timestamping schemeProof of stake/Proof of work (hybrid)
Block reward0.42% every 15 days; 10% inflation per year
Block time60 seconds
Website
Websitebitconnect.co (last archived version, 28 November 2018)

Bitconnect (also spelled BitConnect and KimConnect[citation needed]; stylized bitconnect, ticker code BCC) was an open-source cryptocurrency in 2016–2018 that was connected with a high-yield investment program, a type of Ponzi scheme.[2][3][4] After the platform administrators closed the earning platform on January 16, 2018, and refunded the users' investments in BCC following a 92% coin value crash, confidence was lost and the value of the coin plummeted to below $1 from a previous high of nearly $525.

  1. ^ "What is BitConnect (BCC) and how does it work?". Finder.com. January 2, 2018. Archived from the original on January 25, 2018. Retrieved January 30, 2018.
  2. ^ Mix (January 17, 2018). "How BitConnect pulled the biggest exit scheme in cryptocurrency". The Next Web. Archived from the original on January 31, 2018. Retrieved January 30, 2018.
  3. ^ Wieczner, Jen (January 17, 2018). "Bitcoin Crashes to Below $10,000 as Cryptocurrency Scams Scare Investors". Fortune. Archived from the original on January 27, 2018. Retrieved February 10, 2018.
  4. ^ "Seeking Victims in Bitconnect Investigation". Federal Bureau of Investigation. Archived from the original on July 4, 2022. Retrieved January 4, 2021.