By CCN.com: Carlos Matos, who promoted Bitconnect throughout its existence, posted a bizarre video to YouTube today in which he claims that he lost most of the money invested in BitConnect and that it was not the first scam to which he fell victim. Watch…
By CCN.com: Carlos Matos, who promoted Bitconnect throughout its existence, posted a bizarre video to YouTube today in which he claims that he lost most of the money invested in BitConnect and that it was not the first scam to which he fell victim. Watch Matos below, in a video from 2017, pumping the crowd at a Bitconnect event.
In the new vlog, Matos says he invested around $25,600 into Bitconnect originally, but only took small profits from the infamous scam. At the height of things, he had approximately $250,000 he could have withdrawn but didn’t decide to do so until it was too late – like many who lost money.
“As you guys know, the tragic end of Bitconnect was that it fell down and everybody lost everything. I was one of those as well. I lost most of the amount of money that I had in Bitconnect, which was over $250,000.”
Matos only touches briefly on the subject of Bitconnect, which is the subject most people want to hear him talk about. Matos’ face became associated with the global, multi-billion dollar racket in the minds of many.
The video blog goes on in a rambling manner for over 20 minutes, during which Matos talks about his ambitions to become a “board-certified behavioral analyst.” Matos says he is already such an analyst but hopes to become “board-certified.”
Matos wants his viewers to know that he has been victimized by several scams, including Bitconnect, for more than $100,000 of his investment. While he does mention that he made a little money for his efforts in Bitconnect, that would make him a rarity among the Ponzi scheme’s investors.
He doesn’t talk about what drove him to doubt the fundamentals of Bitconnect finally. Matos considers himself a failure at online businesses but assuages his failures by saying that he plans to rededicate himself to other pursuits, including therapy.
BitConnect is far from resolved as scams go, and Matos may be speaking a little too early about “rebuilding.” The FBI recently asked for help in its investigation of the multi-continental fraud, while BitConnect promoters have been arrested in several countries, notably India.
BitConnect had the typical Ponzi mechanics about it. It promised investors “guaranteed” 10% returns. Guaranteed returns are always a red flag – no investment can boast them unless they are contractually guaranteed like a certificate of deposit or something.
Other BitConnect promoters have moved on as well. Trevon James recently graced this website for claiming Bitcoin is headed to zero.
Craig Grant, a highly successful BitConnect affiliate, is reportedly doing cooking videos now, but in this video, he talks extensively about Bitconnect, and how he came to be involved with it.
It could be years before a resolution is reached in the Bitconnect scam. Multiple jurisdictions want a piece of the case. Promoters are likely to pay the price, at a minimum for promoting unregistered securities and using misleading advertising. Whatever happens, it’s still entertaining to watch these guys talk as if the whole thing never happened.
Last modified: May 4, 2019 9:58 AM UTC