Bitcoin Industry (bitcoin_industry) Posts & Stats July 2024

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Updated: Jul 26, 2024

Bitcoin Industry

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bitcoin_industry

July 15, 2024, 15:02

🚨 Former BitConnect Promoter Convicted in Australian Court for Unlicensed Financial Advice

🔒 The gavel has fallen! The Sydney District Court has delivered a verdict, and it's not looking good for John Bigatton, the face behind the BitConnect crypto debacle. The charge? Providing unlicensed financial advice.

📢 In a statement that made waves on Monday, the Australian Securities and Investments Commission (ASIC) declared victory in their battle against the promotion of risky digital assets. Bigatton, who had been touting BitConnect from the rooftops, is now on a three-year "good behavior" bond.

💼 From August 2017 to January 2018, Bigatton was the man on a mission, spreading the gospel of BitConnect through seminars and social media. But ASIC's eagle eyes caught wind of this and swooped in to protect unsuspecting Aussie investors.

🟠 The fall of BitConnect was as dramatic as its rise. Once hailed as a crypto lending platform with sky-high returns, it came crashing down when its coin value plummeted by over 90%. Texas even labeled it a Ponzi scheme!

💰 Bigatton's promises were as bold as they come. Attendees at his seminars were told that those shiny BitConnect Coins would soar to $1,000 each. He even had the audacity to claim it was better than any traditional investment!

🟢 Judge Robert Newlinds didn't mince words either, noting that Bigatton's actions breached trust and left investors feeling deceived. ASIC is patting themselves on the back for this win and passing the baton to the Commonwealth Director of Public Prosecutions.

bitcoin_industry

July 20, 2024, 12:01

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bitcoin_industry

July 20, 2024, 12:00

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bitcoin_industry

July 20, 2024, 6:40

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