RegalCoin launched in late 2017, at the height of the
BitConnect lending Ponzi
craze.

RegalCoin itself was unremarkable. In our
September 2017 review
, we noted it was just another BitConnect clone.

Turns out this was true beyond the business model, following Indian authorities outing Divyesh Darji in connection to RegalCoin.

As with BitConnect, whether Darji (right) ran RegalCoin is unclear. Indian authorities have pegged him as the highest link of the Ponzi scheme in India.

According to the Ahmedabad CID
, Darji stole “lakhs of rupees” through BitConnect. He has also been tied to Dekado Coin, another collapsed crypto Ponzi.

Details of Darji’s involvement in RegalCoin came to light following complaints from three victims.

Following
Darji’s arrest in relation to BitConnect
he was released on bail.

He has since gone into hiding and is on the run from authorities. Unfortunately this is a
recurring theme
in India.

🤖 Quick Answer

Who is suspected of being behind both BitConnect and RegalCoin?
Divyesh Darji, an Indian national, is suspected of operating both BitConnect and RegalCoin. Indian authorities have identified him as the highest link in the BitConnect Ponzi scheme in India, where he allegedly stole substantial sums. He has also been connected to Dekado Coin, another collapsed cryptocurrency scheme.

What is the connection between RegalCoin and BitConnect?
RegalCoin, launched in late 2017, functioned as a BitConnect clone, mirroring not only its business model but also its Ponzi scheme structure. Both platforms operated during the same cryptocurrency boom period, with similar lending mechanisms designed to defraud investors.

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