Bitconnect was long accused of being a Ponzi scam, as they promised tremendous returns to the owners of their BCC coin. Bitconnect operated an exchange and lending program where users could lend BCC coins to other users in order to make interest off the loans. The company ceased operations after cease-and-desist letters from state lawmakers. The scheme collapsed, along with the value of the coin, leaving most investors with massive losses. A class-action lawsuit is in progress.