The assets belong to partners of the platform, which has raised $2.4 billion from thousands of investors in 95 countries.
BitConnect, founded in 2016, used a network of international promoters who were rewarded for bringing in new members. However, the project eventually went bankrupt, leaving investors without their investments. The platform’s founder, Satish Kumbhani, is still wanted by the US Department of Justice for running a major cryptocurrency Ponzi scheme.
In another development, an Australian court previously found John Bigatton, one of BitConnect’s key promoters, guilty of providing financial advice without a license. The court found that his actions violated the Corporations Act 2001.