It used to be when a Ponzi collapsed that was the end of it.
With cryptocurrency we’ve now got this drawn out period where post-collapse, those scammed desperately either
- try to offload their plummeting in value points or
- hold their points in the hope that, for no evident reason, they’ll go back up in value
As class-action lawsuits pile up and the specter of federal regulatory action looms, the primary exchange still allowing BCC trading has dumped the coin.
Prior to BitConnect’s collapse upwards of 95% of BCC trading took place on the internal exchange, wherein newly invested funds were used to pay existing BitConnect investors the going rate.
After BitConnect collapsed, the admins did a runner with what was left and the internal exchange was shut down.
BCC trading among desperate investors primarily shifted over to the HitBTC exchange.
Unfortunately no doubt how seedy a cryptocurrency might be, there’s always an exchange willing to make a quick buck off of it.
Despite an overall decline in trading volume, HitBTC was still processing higher BCC to BTC, USD and ETH trade volume than all other exchanges combined.
32 hours ago BCC trading on HitBTC ceased, with the company advising it was “temporary disabling BCC markets”.
Dear traders! Due to uncertain situation with BCC coin, we are temporary disabling BCC markets until further clarification of the matter.
The coin is available for withdrawal at the Account page as usual.
As per the above chart, CoinExchange and Livecoin are left to dwindle out.
As BitConnect was collapsing, DavorCoin emerged as a popular reload scam.
DavorCoin is basically the same Ponzi lending model as BitConnect, pegged to DAV points instead of BCC.
When BitConnect victims who flocked to DavorCoin realized the pool of suckers to scam after them was much smaller than BitConnect, DAV tanked.
It’s currently sitting on $5.90, which is actually less than BCC’s $6.34.
Despite attempts to resuscitate new investment via a “millionaire lending lottery”, 24 hour DAV volume has dipped to below $100,000.
How long the company’s anonymous admins continue to create the illusion of hanging on before cut and running with bitcoin invested in DAV, remains to be seen.