Top Bitconnect Promoter Arrested in Dubai

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On August 19, the former India head of notorious cryptocurrency project Bitconnect was reportedly arrested by Gujarat CID.

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Divyesh Darji was allegedly a prime promoter of the now-defunct high-yield investment program — which is commonly described by those in the cryptocurrency community as a Ponzi scheme.

According to Financial Express, Darji was arrested by Gujarat CID from the Delhi airport upon arrival in Dubai.

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One of Many

Of course, Darji was not the only individual supporting the multilevel marketing-reliant platform.

In the United States and elsewhere, Bitconnect is commonly known as having been promoted by social media personalities Trevon James and CryptoNick, both of whom have drawn a lot of heat — from both regulatory authorities and users who lost money — for their promotions of the apparent Ponzi scheme.

What are your thoughts on the arrest of the alleged Indian head of Bitconnect, Divyesh Darji? Do you think Bitconnect was a blatant Ponzi scheme? Be sure to let us know your thoughts in the comments below! 

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