YouTube Added as Defendant in Class Action Lawsuit Against BitConnect

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YouTube Added as Defendant in Class Action Lawsuit Against BitConnect

According to court documents filed July 3, YouTube has been added as a defendant in a class action lawsuit against BitConnect.

The lawsuit was initially filed on January, 24 by six individuals represent by law firm Silver Miller. The claimants state that crypto investment platform BitConnect issued crypto tokens that were unregistered securities, and obtained additional funds through a “wide-ranging Ponzi scheme.” The plaintiffs stated that their personal losses totalled $771,000. BitConnect allegedly used the funds received from new investors to meet the expectations of the existing ones.

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