The founder of BitConnect, Satish Kumbhani, has remained a fugitive for over three years, as confirmed by the U.S. Securities and Exchange Commission (SEC). Kumbhani is accused of orchestrating one of the largest cryptocurrency Ponzi schemes, defrauding investors of $2.4 billion through BitConnect’s “Lending Program.” This program falsely promised high returns using a proprietary trading bot but instead operated as a Ponzi scheme. Despite the indictment in 2022, authorities have been unable to locate Kumbhani, complicating efforts to hold him accountable for the massive fraud.