Bitconnect (also spelled BitConnect and stylized bitconnect, ticker code BCC) was an open-source cryptocurrency that was connected with a high-yield investment program, a type of Ponzi scheme.[2][3][4] After the platform administrators closed the earning platform on January 16, 2018, and refunded the users' investments in BCC following a 92% coin value crash, confidence was lost and the value of the coin plummeted to below $1 from a previous high of nearly $525.