Bitconnect Closes Virtually Its Entire Operation, BCC Token Drops 87%

Bitconnect has formally closed its lending platform and cryptocurrency exchange following warnings from Texas and North Carolina regulators. The Bitconnect Coin (BCC) digital currency is down 87% today and 93% from its December 29 high of $437. At press time, BCC is trading for just $30.

Bitconnect Coin’s website describes the currency as:

“The moment you acquire BitConnect Coin it becomes an interest-bearing asset with 120% return per year. It is that simple.”