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Bitconnect Scam: Head Divyesh Darji arrested in India. The fully story:



A number of class action lawsuits are set up to be filed against the each and every member related with the Bitconnect project.

The affirmed head of Bitconnect India, Divyesh Darji, was arrested at an airport terminal in Delhi as he landed from Dubai.

Darji and his plotters supposedly stole a millions of dollars from Indian financial specialists inspired by the notorious Bitconnect trick.

The capture was accounted for by, which portrayed Darji as “the blamed genius for the gathering in Asia.” Darji and his plotters supposedly focused on Indian financial specialists intrigued by buying digital currency to secure their riches amid the nation’s demonetization battle.

In spite of the fact that Darji’s organization was enlisted in the UK, he supposedly worked it from the Burj Khalifa tower in Dubai.

Bitconnect Scam unravelled completely.


With the ever-increasing technological advancements in the cryptocurrency space, a parallel world seems to be running for the illicit activities by exploiting the anonymity provided by the application of cryptocurrencies. It is estimated that there are almost more than 1500 variety of cryptocurrencies available in the market and approximately 20% of which is nothing but the result of the development of fake cryptocurrency tokens, which were prominently bought into the picture in order to fraud people. Therefore, it has become very challenging for the people to stay safe within the community. There was a suite of major scams and hacks within the cryptocurrency space and the Bitconnect scam is a very popular one, let’s expose it today before the world.


The Bitconnect ICO

The cryptocurrency project Bitconnect was initiated in their December 2016 with its Initial Coin Offering. keeping its widespread popularity, at that point in time, in mind,

the cryptocurrency project gained a lot of momentum and became one of the most prominent cryptocurrencies in the list. The market capitalization for Bitconnect reached up to $2.6 billion and native value of the Bitconnect token up to $400 marks.

Discrepancies in Bitconnect

1. The Bitconnect cryptocurrency project was constantly under the accusations by a number of cryptocurrency professionals as they accused it to be one of the pyramid schemes. The Bitconnect team members promise an annual profit of about 480% to all of its users cum investors.  The Bitconnect members had publicly proclaimed that all the profits that would be made through the cryptocurrency investments would be through the automatic bots in which would be undertaking the trading process automatically.

2. There were a number of reasons supporting the speculations, and the most precise and important reason was its lack of quality of language and grammatical errors on the official page of the Bitconnect cryptocurrency project. How can one make a phone to make mistakes in the official page of the cryptocurrency project? This usually occurs when not an employee was only was not assigned for this. How wouldn’t they have employees to spell check all the errors? It was just because the company employed minimal members so as to facilitate their easiness of fooling people under the name of the pyramid scheme.

3. The Bitconnect project’s official website also did impart satisfactory explanations with respect to the working business model behind the Bitconnect project. The initiative also did not have an effective white paper too, neither did the organization reveal its location of the office.  The Bitconnect project had one of the most Opaque forms of the business model. Also, in one of their YouTube explanations, it is witnessed that a YouTuber is telling that lending, as well as trading cryptocurrencies, are self-explanatory.

4. The Bitconnect project guaranteed an approximate 130% of absolute return on investments with respect to the Bitconnect project. The Bitconnect project was also endorsed by a number of YouTubers and had recommended that it is the safest form of investments. However after the fact was revealed that Bitconnect is a Ponzi scheme, many YouTubers had to face legal complications. In fact, the Bitconnect project would give away special referral bonuses to the cryptocurrency users who work further propagate the usage of the Bitconnect cryptocurrency platform.

Current scenario

As of 2018, a number of class action lawsuits are set up to be filed against the each and every member related with the Bitconnect project.  In fact, a number of Facebook groups with thousands of angry members have been created in order to gain enough support for the initiative. Even most of the celebrities are there on the hit list for their endorsements with respect to the Bitconnect cryptocurrency project.  



Market losses due to cryptocurrency scams of such kinds is not to be completely blamed on the other side, but also the investors must make an effective background check and must invest in an initiative, only if they are completely transparent and highly reliable in nature. It is stressful that the cryptocurrency market is extremely volatile in nature.


Donald Trump policies push Mexico to Bitcoin



Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse.

Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse that remittance payments of Mexican migrants in the United States of America will potentially be the target of new restrictions essentially ending the possibility of Mexican migrant workers to be able to cheaply send money back home to their families.


Mexico adopting Bitcoin:

Mexico has been experiencing a massive increase in the number of transactions on localbitcoins. Mexican migrant workers are believed to be exploited by the remittance companies which are charging around 10% fees. What is essentially being discussed here by the Trump Whitehouse is a new tax on these migrant workers. The number that they are currently floating around is a 3% tax on the remittances going from the USA to Mexico. This may not seem super crazy but considering the $33.4 billion which were sent to Mexico in 2018 alone, that extra 3% could mean $1 billion more per year for the United States government.


98% of the transactions that were sent during the last year, were sent via electronic means which means that there is actually a very strong remittance route that is ready for mass disruption going from the United States to Mexico and Bitcoin could be the perfect answer. However, the average size of a remittance payment from the United States to Mexico is $322 last year and the problem is that if the fees rise again exponentially on bitcoin, then bitcoin might not be the ideal cryptocurrency for these kinds of smaller remittance payments. Maybe we are going to see some other cryptocurrency being adopted in that situation. But regardless of which cryptocurrency is used, we can see that there is a clear need for disruption as government policies again seeks to impede or overly exploit the free float of money.

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Bitcoin Crashes Downwards: Is BTC Going to Fall Back to $4000?



Bitcoin fell down to test the $5000 support level. If the current support around $5000 is broken, BTC might really crash to $4500 and $4200 support levels.

Bitcoin fell down to test the $5000 support level which is the most crucial level for BTC currently. The downward correction started after bitcoin tested the $5500 resistance level yesterday at around 18:00 UTC.


The resistance around $5500 proved very strong and pushed the price downwards sharply. The sharp declining pattern attracted a lot of sellers which even pushed the price below $5200 support level and BTC tested the $5000 support reaching up to $5018.

BTCUSD Price Chart- Coinbase

BTCUSD Price Chart- Coinbase

Bitcoin is currently trading around $5070 (at the time of publication) showcasing a bearish pattern.


Bitcoin Price Drop:

The sudden price drop has led to people speculating that BTC might soon crash back to the $4000 range. Earlier, analysts were also predicting the sudden rise of bitcoin to be a conspiracy. Also, Bloomberg had also called the sudden rise a Blip. If BTC had successfully crossed over the $5500 range, the next major resistance was around $5800, however, BTC fell sharply losing more than $400 in value over the last 24 hours.


The bearish move does not clearly indicate a crash towards $4500 and $4000 range, however, if the current major support around $5000 is broken, BTC might really crash to $4500 and $4200 support levels. With the price of bitcoin falling, other major altcoins are also in the red zone today with Ethereum falling more than 8% in the last 24 hours, XRP falling more than 6% and Litecoin falling around 12% in the last 24 hours.

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China to completely ban crypto mining: Bitcoin about to Crash Hard?



As reported by Bloomberg, China is moving towards putting a complete ban on mining bitcoin and other crypto as it causes serious wasatage of resources.

As reported by Bloomberg, China is moving towards putting a complete ban on mining cryptocurrencies such as bitcoin. In accordance to a document posted by the National Department and Reform Commission of China, the mining of cryptocurrencies should be completely banned as it causes serious wasatage of resources.


China is known to be the largest hub of cryptocurrency mining with huge mining rigs been set up in the country. Earlier, China has also banned small investors to invest in security token offerings or STOs and only large investors with more than $1 million funds are allowed to invest in such projects. Now, the country is planning to take strict action against cryptocurrency miners in the country.


Cryptocurrency miners were earlier attracted to China due to their cheap electricity rates and subsidies in the country, however, due to the strict actions being taken by the government with the guidelines of the NDRC which has disincentivized cryptocurrency mining, a lot of miners have shut down their operations or moved to other nations.


Largest Mining Pools in China:

China has been a hub for some of the largest cryptocurrency mining polls. Even though the mining pools have been shifting to other countries, there has been some effect of the ban on the market for bitcoin and other cryptocurrencies as the mining is a major part of the overall working of cryptocurrencies.


How do you think the complete ban on cryptocurrency mining in China will effect the bitcoin price? Tell us in the comments section below.

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