https://www.zerohedge.com/news/2018-01-26/over-400-million-stolen-hacked-japanese-cryptocurrency-exchange Gives a bit more insight I also find this quote quite funny
"This is the biggest theft in the history of the world,"
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I consider what Bitconnect did as theft so IMO that quote you stated isn't technically accurate... 3+ billion market cap... and it's gone!
I find market cap to be a bit misleading as it is only an extrapolation of current price. That doesn't mean you can actually sell everything and get that amount of money or that is how much money is actually invested.
Bitconnect is a separate issue and yes most of the community would agree this was clearly a fraud and as soon as the bitcoin price crashed they started unwinding the scheme as they could no longer pay "investors"