FBI seeks out potential BitConnect victims

Regulation • February 20, 2019, 1:42PM EST
UPDATED: February 20, 2019, 1:57PM EST
The Block

The Federal Bureau of Investigation's Cleveland Division has sent a request seeking "potential victims who invested in the cryptocurrency BitConnect coin." According to the FBI, the entire BitConnect market "crashed in late January 2018, after two U.S. state-level securities regulators issued public letters warning investors of the Ponzi-type nature" of the project. These warnings resulted in BitConnect shutting down its platform, leaving investors with "near-worthless cryptocurrency."

The FBI is asking potential victims to complete a questionnaire, providing information on the amount of money they've invested in BitConnect, the person who referred them to BitConnect, where they first heard of BitConnect, and any additional information that will assist in its investigation.

AUTHOR

Steven Zheng profile picture Steven Zheng

Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

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