Arrested BitConnect kingpin is connected to yet another cryptocurrency scam

Nearly eight months after BitConnect pulled one of the most iconic exit scams in cryptocurrency history, the authorities across the globe are still catching up with the crooks behind the pyramid scheme.

The Indian police arrested Divyesh Darji, the alleged Asia head of BitConnect, on Saturday, local publication DNA India reports. Darji was travelling from Dubai to Delhi, when he was nabbed at the Airport by Gujarat Criminal Investigation Department (CID) officers, with the help of the immigration department.

With the last cryptocurrency exchange that still trades BitConnect now discontinuing it, and this crackdown of authorities against BitConnect architects, it does seem that BitConnect is breathing its last. But it’s not his BitConnect connection that makes Darji’s arrest interesting, it’s his connection to other suspected cryptocurrency scams in India.

BitConnect’s launch coincided with the demonetization scheme of the Indian…