BitConnect

avoid.net/bitconnect→0/100·97% conf.

[AI-DRAFTED · AWAITING VERIFICATION]

0/100

[CRITICAL]97% conf.

anchored·32PkyR…a5Um

Summary

BitConnect was a cryptocurrency lending platform and exchange that operated from February 2016 until January 2018. It raised an estimated \$2.4 billion from investors worldwide through a fraudulent lending program that falsely claimed to use a proprietary volatility trading bot to generate daily returns of up to 1%. Subsequent U.S. federal investigations confirmed it operated as a classic Ponzi scheme; its founder Satish Kumbhani remains a fugitive as of 2025, while lead U.S. promoter Glenn Arcaro was sentenced to 38 months in federal prison.

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Timeline(12 events)

2016-02-15

BitConnect platform launches

2016-11-15

ICO begins, 4.8M BCC tokens distributed over 46 days

2017-12-01

BCC reaches ATH ~\$463-\$525, market cap exceeds \$3.4B

2018-01-03

Texas issues emergency cease-and-desist

2018-01-17

Platform closes, BCC loses 92% of value

2018-08-18

Divyesh Darji arrested in India

2021-09-01

Arcaro pleads guilty; SEC files civil complaint

2022-02-25

Kumbhani indicted on five federal counts

2022-03-01

SEC confirms Kumbhani has disappeared from India

2022-09-16

Arcaro sentenced to 38 months

2023-01-12

\$17.6M restitution ordered for ~800 victims

2025-02-15

India ED seizes \$190M in crypto from BitConnect

Provenance & Audit Trail

Anchored on Solana Verify on-chain

Decision Log

#1publish⛓ anchored · slot 4196287085/14/2026, 6:01:52 AM
hash: G12rWiJUovmdoWLTk1tERJ3bCAN9a6MrZ1GtCnmaDWKH

This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.

full audit log →version history →

model: claude-sonnet-4-6

generated: 5/7/2026, 8:38:26 AM

last updated: 5/14/2026, 6:01:52 AM

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