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OneCoin
OneCoin was a digital currency scheme widely recognized as a fraudulent Ponzi scheme. Founded by Ruja Ignatova in 2014, it was marketed as a cryptocurrency, but in reality, lacked the fundamental blockchain technology characteristic of genuine cryptocurrencies. Instead of functioning as a decentralized ledger, OneCoin's transactions and coin creation were internally managed and opaque. The scheme promised significant returns and incentivized existing investors to recruit new participants. It garnered billions worldwide before authorities exposed its operations. The OneCoin scandal highlighted the risks of emerging digital currencies and the importance of thorough due diligence in the cryptocurrency sector.
Singapore Man Fined $72K for Promoting Crypto Ponzi OneCoin
Police said the man is the first to be charged under the Multi-Level Marketing and Pyramid Selling (Prohibition) Act.
Crypto Scams Targeting Pacific Communities on the Rise, Say New Zealand Regulators
A rise in cryptocurrency and coronavirus investment scams has prompted authorities to launch an awareness campaign.
OneCoin Lawsuit Could Be Thrown Out Over Plaintiff Failings, Warns Judge
A class action against the accused cryptocurrency Ponzi scheme may be dismissed with prejudice unless the plaintiffs up their game.
Alleged Crypto Ponzi OneCoin May Have Used Flood of Fake Reviews to Boost Ailing Image
The OneCoin cryptocurrency project – accused by authorities of being a Ponzi scheme – may have attempted to counter negative news by using "inauthentic" accounts to place favorable reviews on TrustPilot and Quora, according to new research.
Jury Convicts Crypto Ponzi Scheme OneCoin's Lawyer on Fraud Charges
A Manhattan court convicted Mark Scott, OneCoin's lawyer, for fraud after he laundered $400 million for the crypto Ponzi scheme.
OneCoin Founder's Brother Faces 90-Year Jail Term After Plea Deal
The brother of OneCoin's infamous "Cryptoqueen," Konstantin Ignatov has reached a plea deal with U.S. authorities.
UK Woman Faces Death Threats After Speaking Out on Alleged Scam OneCoin
The British woman says she received death threats after speaking on a podcast about the alleged Ponzi scheme.
OneCoin Claims It's Not a Ponzi or Pyramid Scheme
The OneCoin project has responded to the suggestion it is a Ponzi or pyramid scheme, arguing it does not fit a narrow definition of either.
Alleged Multibillion-Dollar Pyramid Scheme OneCoin Sued by Former Investor
The cryptocurrency investment scheme OneCoin, widely claimed to be a fraud, is being sued by a former investor over her losses.
A Multibillion-Dollar Cryptocurrency Based on 'Lies': US Arrests Alleged OneCoin Leader
Konstantin Ignatov, one of the heads of the infamous OneCoin pyramid scheme, has been arrested on wire fraud charges.
