The promoters of Bitconnect's fraudulent cryptocurrency project were robbed by an investor they had previously persuaded to invest in their pyramid scheme. According to the local newspaper the Times of India, with reference to the statement of the country's criminal investigation Department (CID), the deceived depositor took away 2000 BTC from the attackers.

https://www.vshu.ru/wp-content/uploads/2017/11/bitconnect-white.png

Bitconnect Indian branch in Gujarat was ruled by three promoter – Diyash Dari, Satish Kombani and Dhaval of Mawani. They guaranteed investors a" very high return "of the enterprise and a" daily profit of 1.1%", as well as additional interest for the largest investors.

However, in December 2017, when the company failed to pay money to one of the investors named shailesh Bhatt, The latter merged with eight other persons and took away 2000 bitcoins from Dhaval mavani. A month later, Bhatt was detained. 12 BTC, the police found his nephew Nikunj.

The detainees claimed that the organizers of the pyramid Bitconnect explained the high profitability of the enterprise (up to 365% per year) by the fact that they allegedly "used special SOFTWARE that calculates the lowest and highest points of the bitcoin exchange rate".

It is noted that the branches of Bitconnect also worked in Indonesia, Vietnam, Hong Kong, Singapore and the United States.

# "We have identified several accounts related to the transactions of this project and notified the relevant banks," said the CID employee.

It is expected that the withdrawn bitcoins will be exchanged for Indian rupees and put on storage in the Reserve Bank of India.

Recall, in April, the Central Bank of India has introduced a ban on operations with cryptocurrencies for financial institutions. A day later, 18 thousand residents signed a petition against such a policy of the financial regulator.






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