Cryptocurrency

Tweet thread by dcsilver

2022-02-18 [vendor] Bitconnect lawsuit continues [chain] bitcoin
Primary Source ↗
Blockchain(s) Bitcoin

Incident Details

An appeals court found that a legal claim could continue to be pursued against some of the major voices that promoted Bitconnect online. Bitconnect was a Ponzi scheme that collapsed in early 2018, defrauding investors of $2 billion. This claim, should it succeed, could set a frightening precedent for those irresponsibly hyping cryptocurrency schemes in online videos and other promotions.

Technical Details

Initial Attack Vector
Ponzi / pyramid scheme
Vendor / Product
Bitconnect lawsuit continues

Timeline

  1. 2022-02-18 Breach occurred
  2. 2022-02-18 Publicly disclosed