The OneCoin cryptocurrency is promoted as an analogue of the Bitcoin system but with a private blockchain. Cryptocoin was made by “One Coin Limited” that was founded by Ruja Ignatova in 2015. Comparing OneCoin with Bitcoin, some significant differences can been seen: the absence of a peer-to-peer network, which means mining is done only by the company; all transactions can be operated via partnership exchanges; and all data can only be stored by the issuer, i.e. “One Coin Limited.” According to the company, the main aspect of their business is spreading educational material about exchange trading. For the implementation of OneCoin, the principle of multi-level marketing (MLM) is used. In other words, it is a pyramid scheme, which raises many questions in the crypto community about its legality.
The New York Southern District Court granted a continuance in the lawsuit against David Pike over his alleged link to the OneCoin Ponzi scheme.
New York Court Proceeds Against Man Allegedly Linked to OneCoin
A domain registry says the ongoing legal investigation into OneCoin compelled it to freeze its website, years after critics first accused the scam’s operators o...
OneCoin Website Goes Offline as Net Closes in on $4B Ponzi Scheme
Binance and Bithumb deny their Shanghai offices have been raided by Chinese police, and Bitcoin completely wipes out the gains from its October rally.
Binance Denies Police Raid, Bitcoin Wipeout, Facebook ‘Stupid’: Hodler’s Digest, Nov. 18–24
Former partner at law firm Locke Lord Mark S. Scott was found guilty of helping OneCoin co-founder Ruja Ignatova launder $400 million.
Lawyer Found Guilty of Money Laundering for OneCoin’s Cryptoqueen
Former Locke Lord LLP partner allegedly received $50 million to launder $400 million for OneCoin co-founder and current fugitive Ruja Ignatova.
OneCoin Fugitive Cryptoqueen Allegedly Paid $50M to Lawyer to Launder Funds
Neil Bush — son and brother of two U.S presidents — is alleged to have been paid $300,000 to attend a meeting involving OneCoin co-founder and current fugitive ...
Report: George Bush’s Brother Got $300K for Meeting With OneCoin’s ‘Cryptoqueen’
All the latest from BlockShow Asia 2019, including mixed messages on crypto regulation and hard truths about token prices.
BlockShow Asia, Bitcoin Crash Warning, India Delays Crypto Ban: Hodler’s Digest, Nov. 11–17