The Bitconnect Scam: How a Crypto Ponzi Scheme Promised Fortune and Left Investors Broke:
In 2018, Bitconnect collapsed after luring investors with promises of huge daily returns—over 1% per day—through an alleged trading bot. It turned out to be a classic Ponzi scheme, where early investors were paid with the money from new ones. Regulators eventually shut it down, but by then, billions were lost, and many people faced financial ruin. The Bitconnect scandal is now a key warning about the dangers of "too good to be true" crypto schemes.