Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

> SEC seizing remaining assets (if any) and re-distributing then?

That is unlikely to pay out to someone who bought after BitConnect was shut down.

Generally speaking, when a regulator resoles a Ponzi scheme they take the promoter's assets and help put it into trust. That trust has two jobs. One, to sue those who sold their BCC before the scheme unraveled [1]. And two, to distribute cash to those who lost money.

[1] http://www.newsweek.com/it-fair-sue-madoff-victims-who-made-...




Consider applying for YC's Fall 2025 batch! Applications are open till Aug 4

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: