BitConnet, a coin exchange server, announced that it was shutting down, asking all traders to withdraw their money. However, customers were unable to do so due to cyber-attacks.

Traders fear that they might have lost all the money they placed on the online exchange site.

Other investors have lost their Bitcoin after they mistakenly handed over information about their cryptocurrency wallets to scammers, assuming they were BitConnect “customer support”.

Bitcoin's value surged to more than $17,000 in December 2017, however it dropped down dramatically causing investors to opt-out of the crypto-currency market and invest in gold instead.