Glossary
BitConnect
A 2016–2018 Ponzi scheme promising 1%+ daily returns via an alleged "trading bot" — collapsed in January 2018, becoming a meme symbol of crypto-Ponzi dynamics.
BitConnect launched in 2016 as a lending platform that promised users 1% or more in daily returns via an alleged proprietary trading bot. The platform required users to convert BTC to BCC (BitConnect Coin) to participate, locking funds for fixed terms that compounded returns.
In January 2018 BitConnect shut down lending and exchanges, citing "cease-and-desist letters" from US regulators. BCC collapsed by ~96% within days. Founder Satish Kumbhani was later charged by US authorities. The platform's signature moment — Carlos Matos's "hey hey hey!" speech at a 2017 annual conference — became one of crypto's most enduring memes.