{"id":4833,"date":"2018-01-17T20:34:42","date_gmt":"2018-01-18T02:34:42","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4798"},"modified":"2022-03-22T15:45:36","modified_gmt":"2022-03-22T20:45:36","slug":"bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency\/","title":{"rendered":"BitConnect Shutters Its Lending and Exchange Operation, Leaving Texas Investors With No Place to Trade Their BCC Currency"},"content":{"rendered":"<p>\t\t\t\tBitConnect, an investment lending platform for Bitcoin, has suddenly announced that it is shuttering its lending and exchange operation immediately. The company said that its exchange platform would shut down in five days. In a post on its site, BitConnect said that moving forward, it would operate for \u201cwallet service, news and educational purposes.\u201d<\/p>\n<p>The announcement caused the price of BitConnect Coins (BCC), which is its Bitcoin currency, to plunge by over 90%&#8211;from over $400\/coin to about $17.25\/coin. Now, its investors are left wondering what to do with their coins.   <\/p>\n<p>Some site users are claiming that even though the exchange for the BCCs was supposed to stay open throughout the week, they have been unable to process trades because they cannot access the exchange. CoinDesk reports that one investor sent an email, claiming over $400K in losses because of this.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency\/#more-4833\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>BitConnect, an investment lending platform for Bitcoin, has suddenly announced that it is shuttering its lending and exchange operation immediately. The company said that its exchange platform would shut down in five days. In a post on its site, BitConnect said that moving forward, it would operate for \u201cwallet service, news and educational purposes.\u201d The [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3739,3750],"tags":[],"class_list":["post-4833","post","type-post","status-publish","format-standard","hentry","category-finra","category-texas-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BitConnect Shutters Its Lending and Exchange Operation, Leaving Texas Investors With No Place to Trade Their BCC Currency &#8212; Investor Lawyers Blog &#8212; January 17, 2018<\/title>\n<meta name=\"description\" content=\"BitConnect, an investment lending platform for Bitcoin, has suddenly announced that it is shuttering its lending and exchange operation immediately. The &#8212; January 17, 2018\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"BitConnect Shutters Its Lending and Exchange Operation, Leaving Texas Investors With No Place to Trade Their BCC Currency &#8212; Investor Lawyers Blog &#8212; January 17, 2018\" \/>\n<meta name=\"twitter:description\" content=\"BitConnect, an investment lending platform for Bitcoin, has suddenly announced that it is shuttering its lending and exchange operation immediately. The &#8212; January 17, 2018\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"BitConnect Shutters Its Lending and Exchange Operation, Leaving Texas Investors With No Place to Trade Their BCC Currency &#8212; Investor Lawyers Blog &#8212; January 17, 2018","description":"BitConnect, an investment lending platform for Bitcoin, has suddenly announced that it is shuttering its lending and exchange operation immediately. The &#8212; January 17, 2018","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency\/","twitter_card":"summary_large_image","twitter_title":"BitConnect Shutters Its Lending and Exchange Operation, Leaving Texas Investors With No Place to Trade Their BCC Currency &#8212; Investor Lawyers Blog &#8212; January 17, 2018","twitter_description":"BitConnect, an investment lending platform for Bitcoin, has suddenly announced that it is shuttering its lending and exchange operation immediately. The &#8212; January 17, 2018","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"BitConnect Shutters Its Lending and Exchange Operation, Leaving Texas Investors With No Place to Trade Their BCC Currency","datePublished":"2018-01-18T02:34:42+00:00","dateModified":"2022-03-22T20:45:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency\/"},"wordCount":443,"articleSection":["FINRA","Texas Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency\/","url":"https:\/\/www.investorlawyers.com\/blog\/bitconnect-shutters-lending-exchange-operation-leaving-texas-investors-no-place-trade-bcc-currency\/","name":"BitConnect Shutters Its Lending and Exchange Operation, Leaving Texas Investors With No Place to Trade Their BCC Currency &#8212; Investor Lawyers Blog &#8212; January 17, 2018","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2018-01-18T02:34:42+00:00","dateModified":"2022-03-22T20:45:36+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"BitConnect, an investment lending platform for Bitcoin, has suddenly announced that it is shuttering its lending and exchange operation immediately. 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