It still amazes me that these type of things are around. Regulation is really only a "thing" here in the States. It's the Wild Wild West everywhere else, though. Sure, Hong Kong is trying really hard to regulate. So are a handful of other countries. But you're so right in saying that people need to take better care of their money. There are far better ventures than to throw away at something like that.
RE: BitConnect is only profitable for its affiliates. Smells like a Ponzi scheme!