Bitconnect stops running, thousands of Bitcoin Vietnamese players panic

On BitConnect's homepage, the virtual exchange trading floor in Vietnam officially stopped lending activities and temporarily closed its internal trading floor.

Please specify: " We will transfer the entire loan balance to the balance of BitConnect at $ 363.62. This rate has been calculated based on the last 15 days of the average closing price of the subscription. on coinmarketcap.com ".

"BitConnect.co's internal trading platform will be temporarily closed within 5 days. We are closing the loan service and exchanging services while the BitConnect.co website will be active for wallet, news and item services. educational destination " .

Notice of closure.

The reason for discontinuing lending activities, BitConnect said that this action was aimed at helping this currency to participate in large exchanges like Bittrex, Binance, .

The announcement also said that although some services on the website platform are closed, this is not the end for this community. Other virtual money services will be provided in the future.

BitConnect, also known as Lending (Lending) platform and MLM (Multi-level Marketing) is one of the most popular cryptocurrency loan platforms in the world which attracts many investors. . Currently, BitConnect is one of the 20 most successful virtual currencies on the market.

Operation model.

There are many reasons for BitConnect to take this action, and one of them is the letters that were sent to the company from the authorities of Texas and North Carolina. The content in both letters clearly states that BitConnect has conducted non-registration of assets related to virtual currency.

A week ago, the price of a BitConnect dong hit a record of $ 400, hovering at $ 240, but as soon as the announcement came out, the price dropped to just $ 35.

In Vietnam, many investors participate in BitConnect and they are not worried about the previous move of closing high-interest loans and transactions of this virtual money trading platform.

See more:

1. Warning: A huge online virtual money lending platform already exists in Vietnam has been suspended by the Texas Securities Commission.
2. Top reputable and reliable Bitcoin trading floor
3. What do you need to know when buying Bitcoin or selling Bitcoin?