Online promoters of bogus cryptocurrencies and scams may soon be liable to legal action from the investors if the recent ruling of a US court is anything to go by. Here is what the new ruling on the BitConnect scam tells us on the topic.
In a landmark decision that can have its ramifications in several countries battling the rise of cryptocurrencies including India, a court ruling in the US has made it clear that influencers and.
An appeals court ruled that promoting unregistered securities on YouTube is the same as doing it in a targeted letter. Now a lawsuit against promoters of the BitConnect crypto Ponzi scheme will continue.
BitConnect's promoters told its victims that if they handed over their Bitcoin for a period of time, their crypto would be used by an automated trading bot that would return huge profits.
The story of BitConnect doesn’t embody any rapping Forbes bloggers slash cash launderers or dubiously-obtained ape JPGs, however this “pyramid-on-Ponzi”