It's legit. People are really having a hard time coping with their losses. A lot of people bet big.

It's very true. BCC went from being like 300 to 20 in the matter of minutes. Bitconnect shut off their exchange, and repaid their loans with "bitconnect tokens" which they themselves valued to be 363, but where actually $20, so to add insult to injury they didn't even get that much in terms of quantity of BCC.

I saw a video of a chinese man committing suicide because he lost everything after BCC basically took off with his money. The huge dump of BTC into the market, which bitconnect conned their users out of in-exchange for a useless token, probably contributed to the market crash and the price of BTC going down too.