6 ms·

So now their stuff is actually valued $2.4B and it's no longer monopoly money?

• bogwog 5y ago
  > BitConnect operated as a Ponzi scheme by paying earlier BitConnect investors with money from later investors. In total, Kumbhani and his co-conspirators obtained approximately $2.4 billion from investors That $2.4B is real money they stole from people. The monopoly money would start at the first penny after that number.
  • ganzuul 5y ago
    You're right and I made an error too. Previously, they had nothing but a scam but now a government force trying to recoup the sum. That is labor paid for by taxpayers. Something which was previously worthless in now worth something as it is backed by labor. To me it appears to be useless labor so its value appears to be negative. To the lawyers however this must be a great source of income.
• anm89 5y ago
  They got people to trade good money ($2.4B) for monopoly money and then ran off with the real money.
  • GrumpyNl 5y ago
    Classic scheme.