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Is Krypto Connection a Scam Broker?
You may try to access the Bitconnect Network site, but find that it is down. Bitconnect was closed down as an MLM and a Ponzi scheme. So why should Broker Complaint Registry still write a review of it? Because in our experience with crypto scams and forex scams, we find that the same brokers tend to pop up again. It pays to look at the case of Bitconnect to stay alert about what to avoid in the future.
Is Bitconnect a Scam or Legit Broker?
Bitconnect at first seemed to clients like a regular broker. They were not regulated, but unfortunately, some consumers throw caution to the wind about licenses, which is a mistake. They made huge promises and asked clients to recruit other clients. This is the way MLMs operate. It was a Ponzi scheme in the sense that no trading was done but the money was circulated from one client to another. Bitconnect was the subject of a warning from the FCA and was closed down.
Our experts have examined Bitconnect and have found the following problems:
- No license
- The promise of huge returns
- Encouraged recruitment
- Used a fishy trading bot
- Lack of transparency
Clients should beware of schemes like Bitconnect. Instead, research our other broker reviews and sign up with a regulated broker. If you have lost money with Bitconnect or another broker, BCR professionals are here to help you.
- The broker froze your account
- The broker blocked your account
- You cannot login back into your account
- Money has been taken out from the account
- The broker doesn’t take your calls
- The broker shut down his website
- You noticed the broker took money out from your bank account with out your permission
- The broker is offering you a bonus
- The broker is offering you to fund more money into the account after you lost a large sum
Don’t give up. You can fight back and get your money refunded. Start by filling the form above and we will get in touch with you and provide you with information on how to start the process.