False Notices Sent Out To BitConnect Investors Alleges That Partial Refunds Can Be Issued With Fee

One of the few things that scammers of any finance-related industry have in common is their constant ability to be creative in their efforts. This month has been rife with efforts from fraudsters, though most of the publicized attempts have come through social media websites, like Twitter and Facebook. However, a new level of fraud is coming through Texas right now, and it directly involves BitConnect.

In an official press release, the Texas State Securities Board notified the public that there’s a new scam going on, involving an alleged notice that the scammers claim came from the board. The scammers go through so much effort that the “fraudulent notice” even features the emblem of the board and looks exactly like one of their press releases.

It explains that users will experience a “little hiccup” in receiving their 35% refund from BitConnect investments, “as refunds can not be made to user’s Bitconnect coin wallet due to the Emergency Cease and Desist Order.” They elaborated that the “affected participants who are interested in the refund and meet the above specification are expected to consent to this broadcast by filling the consent form.” They also add that a “consent fee of $250” is necessary to pay for this refund.

Though they seemed to have done a great job with masking the appearance of the website, the endless grammatical errors and spelling issues should be enough of a sign that something was amiss.

Luckily, the true authorities caught wind of the false press release, and posted to their official Twitter account, saying,

“A fraudulent notice sent to BitConnect investors falsely claims @TxSSB has authorized refunds. Entity behind the notice set up a fake @TxSSB web page and is asking investors to send them $250 to get the refund process rolling. Ignore it.”

The Twitter post linked to the government-based website for the authority, directly to a new press release. Travis J. Iles, the Texas Securities Commissioner, commented, “This false page is an attempt to further defraud BitConnect investors.” The press release advises user to not respond, not complete the form, and not to send any money. Federal refunds do not require individuals to pay any advance fees in this type of circumstance.

If local residents still have any concerns about the truth behind the scammer’s lies, they can send an email to the Enforcement Division at [email protected].

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