Following no response from BitConnect, a cease and desist issued against the company by North Carolina has been ordered permanent.

North Carolina
issued BitConnect with a securities fraud cease and desist
back in January.

BitConnect confirmed notice of the cease and desist on its website on January 11th.

On January 23rd the cease and desist arrived at BitConnect’s virtual address in the UK.

The recipient refused to sign for the delivery and so it was returned undelivered.

On January 31st the Companies House changed BitConnect’s address to a default address in the event of discovered filing discrepancies.

The North Carolina Securities Division sent the cease and desist notice to the changed address on March 8th.

The delivery was again not signed for but also wasn’t returned to the Securities Division.

Despite being given ample time to respond to the cease and desist,

BitConnect has failed to request a hearing, failed to file a responsive pleading, and failed to make any other submission.

By order of North Carolina Secretary of State on July 12th, thus the BitConnect cease and desist has been made final.

In retrospect making the cease and desist final might seem pointless, seeing as BitConnect’s unofficial response was to collapse and do a runner.

However it’s important to note the cease and desists issued by North Carolina and
Texas
were precursors to
BitConnect’s collapse
.

At the time they were issued, BitConnect was gearing up to launch its BitConnectX spin-off scam.

Had authorities not intervened, it’s likely that, while BitConnect would have collapsed anyway, even more money would have been lost to the scammers behind it.

Other than a case in India that
allegedly uncovered BitConnect’s owners
, authorities have yet to take any action against top investors and management – most of which are scattered across the globe in hiding.

🤖 Quick Answer

What happened with BitConnect's cease and desist order in North Carolina?
North Carolina's Securities Division issued a cease and desist against BitConnect for securities fraud in January. After the company failed to respond and refused delivery attempts at multiple addresses, the order was made permanent. BitConnect acknowledged the initial notice on its website but subsequently avoided accepting formal service of the documents.

Why did North Carolina issue a cease and desist against BitConnect?
North Carolina Securities Division determined that BitConnect was engaged in securities fraud activities. The cease and desist order was issued to halt these unlawful practices and prevent further financial harm to investors within the state's jurisdiction.

How did BitConnect respond to the cease and desist notices?
BitConnect confirmed knowledge of the cease and desist on January 11th through its website. However, the company refused to accept delivery of the formal notice when it arrived at its UK virtual address on January 23rd,

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