CORAL SPRINGS, Fla., Dec. 5, 2022 /PRNewswire/ — In January 2018, cryptocurrency lending and exchange platform BitConnect abruptly shut down its operations amidst what was quickly discovered to be a wide-ranging $2+ billion Ponzi scheme and fraudulent investment program. On behalf of victims of BitConnect and its army of social media promoters, Silver Miller (www.SilverMillerLaw.com) — the leading cryptocurrency investor law firm in the country, with vast experience litigating against cryptocurrency exchanges like Coinbase, Kraken, Cryptsy, Binance, Bittrex, and Poloniex; and other crypto coin purveyors and digital asset promotors — filed and spearheaded a class action lawsuit to obtain relief and recovery of investment losses. That case is styled In re BitConnect Securities Litigation, U.S. District Court – Southern District of Florida – Case No. 9:18-cv-80086-DMM. After overcoming years of legal obstacles, a path to recovery for BitConnect investors appears to be present as an alternative to the class action. In November 2022, the civil class action lawsuit was voluntarily closed down in favor of pursuing claims for monetary relief in the criminal restitution case prosecuted against BitConnect’s primary United States promotional director (Glenn Arcaro), who pleaded guilty to his criminal involvement with BitConnect and forfeited $56 million as a restitution fund for distribution to victims of the BitConnect Ponzi scheme. While the government has reportedly rejected…
