Bitconnect is another high-profile case of a cryptocurrency scam, which also had some Ponzi scheme elements. Sold as a form of open-source currency, Bitconnect was supposed to be a digital currency coin that customers could trade with Bitcion in return for interest. A trading bot was involved in the process, which was one of the most suspicious aspects of the business, as it determined interest rates according to the company’s ideas. Over the years, starting in 2017, governments from various countries began to question the legitimacy of the cryptocurrency trading platform.

Several authorities then called it out as being a Ponzi scheme, and the Texas State Securities Board issued a cease-and-desist order to the company in 2018. Later on that year, it turned out to be a scam and regulators referred the victims to Tracingia LLC which recovered the money invested in this scheme to some of the investors with sufficient proof.

Tracingia Core Values

At Tracingia our culture comes to life through these five core values:

• Do the right thing
• Put our clients first
• Lead with exceptional ideas
• Commit to diversity and inclusion
• Recover and repatriate to the victim.