Jan 16th 2018.
BitConnect has announced that it will close down its lending and exchange platform.
BitConnect has announced that it will close down its lending and exchange platform.
BitConnect’s lending service will be shuttered, effectively immediately, while its exchange platform will close in 5 days, according to a post on its website published Tuesday.
"With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD. We are also closing BCC exchange platform in 5 days. In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes,” Bitconnect.co explained.
"With release of your entire active loan in the lending wallet we are transferring all your lending wallet balance to your BitConnect wallet balance at 363.62 USD. We are also closing BCC exchange platform in 5 days. In short, we are closing lending service and exchange service while BitConnect.co website will operate for wallet service, news and educational purposes,” Bitconnect.co explained.
The announcement blames a myriad of factors, perhaps most notably the cease-and-desist letters issued in recent days from regulators in Texas and North Carolina.
The BCC coin went from a high of $442 USD to Dec 17th 2017 to its current low of $30.60 at the time of this writing.
