Cryptocurrency platform BitConnect, which is many times called a pyramid scheme, officially announced the termination of work.
According to a post on the website, BitConnect closes the loan program is actually immediately, while its exchange platform will close in 5 days.
«We complete services for the lending and exchange, but the website BitConnect.co will work to service the wallets, provision and exchange of news,» say the developers.
Among the official reasons for the termination BitConnect requirements of regulators in two States – Texas and North Carolina – accusing the company of involvement in the sale of unregistered securities tied to the sale of tokens.
BitConnect, in turn, said that the termination was influenced by «unfair press», which «made the relationship between members of the community difficult and created distrust of the platform» and DDoS attacks by hackers on the site.
However, BitConnect announced that ICO company will continue to grow and that it will create alternative stock exchange for token BitConnect. The day after the announcement of the token Bitconnect (BCC) has fallen by 93%, from 250 to 17 dollars.