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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.
China Prosecutes 98 Over Alleged $2 Billion OneCoin Pyramid Scheme
China has prosecuted nearly 100 individuals said to be involved with locally operating the OneCoin cryptocurrency scheme.
Samoa's Central Bank Investigates OneCoin Investment Scheme
The Central Bank of Samoa is investigating the OneCoin crypto investment scheme and has issued a warning about the business to investors.
China Moves to Crack Down on Digital Currency Pyramid Schemes
China's public security ministry says it will take aim at pyramid schemes in the country, including those that purportedly involve cryptocurrencies.
Bulgaria Joins 'International Operation' Against OneCoin
Bulgaria's government has revealed it is part of an international crackdown of OneCoin.
OneCoin Promoter Targeted By Finnish Police in Ongoing Investigation
Police in Finland have moved into a new stage in their ongoing investigation into to the OneCoin cryptocurrency scheme.
Luxembourg Regulators Issue Investor Warning Against OneCoin Scheme
Regulators in Luxembourg have released a warning about OneCoin, becoming the latest country to air concerns over the investment scheme.
Finnish Police Launch OneCoin Investigation Amid Global Crackdown
Finnish police have become the latest international law enforcement agency to take a growing interest in the OneCoin digital currency scheme.
OneCoin Promoters Fined €2.6 Million by Italian Consumer Watchdog
A consumer rights watchdog in Italy is fining a group of companies that have promoted OneCoin.
Austria's Financial Regulator Warns Onecoin Operating Without License
Yet another national financial regulator is pursuing action against onecoin, an alleged cryptocurrency investment scheme.
Indian Police Prepare Charges Against OneCoin Founder Ruja Ignatova
Authorities in India have prepared charges against Ruja Ignatova, founder of the suspected fraudulent investment scheme, OneCoin.
