 Bitconnect logo | |
| Denominations | |
|---|---|
| Code | BCC |
| Development | |
| Original author(s) | Satish Kumbhani |
| Initial release | February 15, 2016[1] |
| Development status | Discontinued |
| Written in | C++ C# |
| Operating system | Windows, OS X, Linux, Android, iOS |
| Source model | Open source |
| License | MIT License |
| Ledger | |
| Timestamping scheme | Proof of stake/Proof of work (hybrid) |
| Block reward | 0.42% every 15 days; 10% inflation per year |
| Block time | 60 seconds |
| Website | |
| Website | bitconnect |
Bitconnect (also spelled BitConnect and KimConnect; 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.
- ^ "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.
- ^ 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.
- ^ 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.
- ^ "Seeking Victims in Bitconnect Investigation". Federal Bureau of Investigation. Archived from the original on July 4, 2022. Retrieved January 4, 2021.