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> BitConnect operated as a Ponzi scheme by paying earlier BitConnect investors with money from later investors. In total, Kumbhani and his co-conspirators obtai
by 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 agoYou'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.