Glenn Arcaro is known primarily throughout the BitConnect investor community as the top US BitConnect investor.
CryptoNick was a successful BitConnect investor, who primarily promoted the Ponzi scheme through his YouTube channel.
In videos that have since been deleted, CryptoNick boasted of earning hundreds of thousands of dollars in BitConnect referral fees. That’s on top of whatever he made in ROI payments from the platform itself.
In the wake of BitConnect’s collapse, Badisse David Mehmet has offered a $1000 bounty on both Glenn Arcaro’s and CryptoNick’s whereabouts.
At first I thought this was some sort of vigilante quest, which BehindMLM would obviously not have covered.
Turns out Mehmet (right) instead intends to sue both Arcaro and CryptoNick, in addition to handing over their details to authorities.
Often promoters of Ponzi schemes do so without considering public fallout when the scams inevitably collapse.
At just seventeen years of age, CryptoNick appears to be a perfect example.
In a video titled “BitConnect: $1000 bounty reward“, Mehmet identifies Arcaro ‘as one of the major players and major promoters‘ of BitConnect.
He has convinced many people to join this Ponzi scheme.
What happened after they had taken millions of dollars from investors, who trusted and believed what they were being told … the tokens that they sold to them became worthless and these individuals lost their money.
Mehmet goes on to claim people who think Arcaro and BitConnect YouTube promoters didn’t do anything wrong are “ignorant”.
Mehmet specifically calls out well-known BitConnect YouTubers Craig Grant and CryptoNick (above).
What I’m doing is I’m offering one thousand dollars on GoFundMe.
Anybody, the first individual who located (Arcaro), because we believe he took off overseas to Europe somewhere, you find this individual.
BehindMLM covered Arcaro’s abrupt disappearance on January 11th. Seven days later BitConnect collapsed.
You locate where he is and inform where he is, so we can inform the authorities on that and bring him to answer what he’s done, and helping to defraud individuals as a Director of BitConnect.
As for the other promoters, I’m gunna sue CryptoNick as well in federal court.
This is an individual who heavily promoted BitConnect.
As an agent of BitConnect, had thousands of people join BitConnect based on what he told them – and gave them assurances that BitConnect was legal and was not a scam.
He as an agent is liable.
In addition to his public bounty, Mehmet claims he will also “hire a private investigator”.
I will also post the federal lawsuits when they are filed against these two individuals and against BitConnect.
Whether Mehmet invested in BitConnect and if so, how much he lost, is not disclosed.
Although Mehmet does indeed appear to have started a GoFundMe campaign, as at the time of publication the provided link is returning “campaign not found”.
Whether that means someone has already claimed the bounty is unclear.