BitConnect is closing its crypto exchange

The company BitConnect, which has become the cause of many disputes on the Internet, announced the closure of a crypto exchange and a separate lending platform. In an announcement on their website, BitConnect employees announced the complete closure of the crypto exchange and lending platform. In the meantime, the website remains active for “news and educational purposes.”

The company indicated three specific reasons why it was forced to stop operating the platform. The first was a ban on financial activities from several American regulators. 

“We have received two cease-and-desist letters - one from the Texas State Securities Board and one from North Carolina,” the statement said. “Their bans make the platform impossible to operate.”

The publication also blamed “external factors” such as DDOS attacks that made the website “unstable” and “created panic within the community,” and “continuous and baseless criticism in the press has undermined the trust of our customers.” Critics of BitConnect's activities included personalities such as Litecoin creator Charlie Lee and Ethereum founder Vitalik Buterin. Both at different times expressed the view that BitConnect is a classic financial pyramid. 

Despite the closure of the trading platform, BitConnect will continue to operate its digital token BitConnect X ICO. "BitConnect X ICO will continue to operate. Although we are discontinuing some services on our website, it will not be forgotten. We will continue to offer cryptocurrency services to our users in the future."

As a reminder, a written warning from this company was posted on the UK Companies House website.

It states that if the company does not renew the name registration, then 60 days from the date of sending the letter (January 7). 2018) it will be liquidated and its name will be removed from the register of legal entities. In this case, the assets and property of the company will become the property of Great Britain.



According to https://www.ccn.com