Bitcoiin collapses, admins do a runner after $75 million B2G ICO

A week after BehindMLM reported Bitcoiin was
continuing to violate a securities fraud cease and desist
, the company has collapsed.

Over $75 million is believed to have been invested during Bitcoiin’s ICO, which was scheduled to wrap up on March 30th.

Instead, Bitcoiin’s anonymous admins have pulled the plug early and done a runner with everyone’s money.

Bitcoiin and its B2G altcoin surfaced back in January. Bitcoiin marketed B2G in typical “we’re better than bitcoin” fashion, however the coin itself had no practical purpose beyond soliciting investment from the public.

Some investors had no doubt hoped to recover earlier scam losses, as evidenced by Bitcoiin promoter 
Don Le funneling victims
he’d already stolen from in the
collapsed USI-Tech Ponzi scheme
.

Le, who claims to be ‘
helping others to achieve financial freedom through sharing the love of our Lord and Saviour
‘, has since deleted all content on his public Facebook profile.

In a March 26th press-release, Bitcoiin’s anonymous admins advised investors they, along with
Brand Ambassador Steve Seagal
, will now “exit as the ICO period comes to an end”.

The press-release goes on to detail plans to release B2G as a mineable altcoin, which means little considering B2G is just another pointless altcoin.

Once again gullible investors have been convinced they’re investing in the next bitcoin, only to be exit-scammed and left with a worthless altcoin.

Upon release onto public exchanges, B2G will likely follow the trajectory of other altcoin Ponzi schemes.

A flurry of initial trading will see the value briefly pump, before reality sets in and B2G plummets to $0.

BitConnect
is the obvious example of this scam playing out, with
$2.4 billion wiped off BCC
within ten days of the BitConnect similarly collapsing.

BCC is currently sitting at $1.35, down from a high of almost $400 pre-collapse.

Whereas Bitcoiin victims are now left to come to terms with their losses, Bitcoiin’s admins see the ICO as a “fantastic success”.

Once again we would like to thank all the contributors who made Bitcoiin a fantastic success, and we appreciate the anonymous Founders and our Brand Ambassador for all their support during our ICO period.

Rather than acknowledge their theft of over $75 million from investors, Bitcoiin’s admins maintain media coverage of Bitcoiin is “regurgitate(d) misinformation”.

US regulators targeted Bitcoiin and Steven Seagal earlier this month, following a March 7th
securities fraud cease and desist issued by New Jersey
.

On March 22nd Tennessee followed up with an
investor warning
 which cited the New Jersey cease and desist.

BehindMLM’s own
Bitcoiin review
was published on February 1st.

Update 2nd February 2021 – 
The SEC has
filed a lawsuit against Kristijan Krstic
in relation to Start Options and Bitcoiin.

The DOJ has also
filed a criminal complaint against John DeMarr
, one of Krstic’s accomplices.

🤖 Quick Answer

What was Bitcoiin and how much did investors lose in its ICO?

Why did Bitcoiin's collapse occur?
Bitcoiin ceased operations after violating a securities fraud cease and desist order. The project's anonymous administrators terminated the ICO prematurely, scheduled to conclude March 30th, and disappeared with investors' funds in what constituted a complete exit scam.

What was the connection between Bitcoiin and previous fraud schemes?
Bitcoiin promoter Don Le redirected victims from the collapsed USI-Tech Ponzi scheme into Bitcoiin investments. This pattern demonstrated how failed cryptocurrency projects attracted individuals seeking to

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