The shutting notice may be cause due to the Cease and Desist letters from the securities boards of Texas and North Carolina. Company has stated that it will refund all active loans at a rate which it calculated from the past 15 day average price which is $363.62USD.
Initially, the Bitconnect team gets the notice from the authorities, the BCC token price plummeted from around $180 to $32 also effective to all cryptocurrencies. This is clear that users who have invested or purchased BCC had suffered from huge losses in respect to bitcoin or other digital currencies. Now the coins is useless as, its platform shutdown.
Including Ethereum co-founder many of the other crypto experts have labelled Bitconnect as a Ponzi Scheme.
Closing the lending and exchange platform doesn’t mean that we will stop supporting BitConnect coin. Closing the lending platform will allow Bitconnect to be listed on outside exchanges giving more options for trading. This is not the end of this community, but we are closing some of the services on the website platform and we will continue offering other cyptocurrency services in the future.- Statement made on website.