CORAL SPRINGS, Fla., Dec. 5, 2022 /PRNewswire/ — In January 2018, cryptocurrency lending and exchange platform BitConnect abruptly shut down its operations amidst what was quickly discovered to be a wide-ranging $2+ billion Ponzi scheme and fraudulent investment program. On behalf of victims of BitConnect and its army of social media promoters, Silver Miller (www.SilverMillerLaw.com) — the leading cryptocurrency investor law firm in the country, with vast experience litigating against cryptocurrency exchanges like Coinbase, Kraken, Cryptsy, Binance, Bittrex, and Poloniex; and other crypto coin purveyors and digital asset promotors — filed and spearheaded a class action lawsuit to obtain relief and recovery of investment losses. That case is styled In re BitConnect Securities Litigation, U.S. District Court – Southern District of Florida – Case No. 9:18-cv-80086-DMM. After overcoming years of legal obstacles, a path to recovery for BitConnect investors appears to be present as an alternative to the class action. In November 2022, the civil class action lawsuit was voluntarily closed down in favor of pursuing claims for monetary relief in the criminal restitution case prosecuted against BitConnect’s primary United States promotional director (Glenn Arcaro), who pleaded guilty to his criminal involvement with BitConnect and forfeited $56 million as a restitution fund for distribution to victims of the BitConnect Ponzi scheme. While the government has reportedly rejected more than 50% of the submitted claims so far, Silver Miller and Shamis Gentile are working together with other co-counsel to help victims submit authenticated paperwork that will allow them to successfully recover their lost funds.
Silver Miller and Shamis Gentile continue to work with BitConnect victims to assist them in obtaining relief and securing for them in the Arcaro criminal restitution case as large a recovery as possible. If you are a BitConnect victim and would like representation to submit your claim against the $56 million fund, we encourage you to fill out this form created by our co-counsel at Shamis & Gentile, P.A. (www.shamisgentile.com):
so we can assist you with your recovery efforts. This recovery opportunity is available to both United States and international victims, but the deadline to submit a claim is December 16, 2022; so you are encouraged to act quickly.
Silver Miller is extremely proud to have forged this path and trusts that all qualified victims who can authenticate their BitConnect investments will be able to avail themselves of this opportunity to recover the losses they suffered.
David C. Silver
Silver Miller – Managing Partner
Washington, D.C. 202-852-6000
E-Mail: [email protected]
Shamis Gentile – Managing Partner
E-Mail: [email protected]
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SOURCE Silver Miller