OneCoin News

Founded in 2014, Bulgaria-based firm OneCoin is an alleged crypto exit scam that reportedly raised $4.4 billion in a Ponzi scheme and laundered $400 million over its years of operation. Co-founder Konstantin Ignatov pleaded guilty to those charges, while his sister and co-founder Ruja Ignatova, also known as “cryptoqueen,” is currently a fugitive. The company has since been hit by a massive class-action lawsuit, with legal proceedings currently ongoing. 

Aside from the fugitive founder and legal investigation, the OneCoin saga is far from over, with former “employee” Quoc-Hung, also known as Simon Le, currently using OneCoin’s existing channels to prop up a similar Ponzi scheme called OneLink. 

OneCoin is not the only investment scam of prominence in the crypto industry, with other notable Ponzi schemes including Bitconnect and PlusToken. These schemes involve a multilevel marketing model that incentives “representatives” to sell memberships to an enterprise with no genuine product. Schemes such as these have resulted in billions of dollars in fraudulent activity, which has certainly marred the industry’s reputation in the eyes of the broader marketplace and regulatory authorities worldwide. 

News
Banks cleared over $2 trillion in "suspicious" transactions. How did crypto fare in comparison?
Major banks implicated in the FinCen leak take a beating in the stock market
Michael Kapilkov
2020-09-22T22:37:56+01:00
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In depth
Following the latest ruling on the OneCoin class-action lawsuit, we look into the biggest Ponzi scheme in crypto.
OneCoin: A deep dive into crypto’s most notorious Ponzi scheme
António Madeira
2020-09-01T14:20:00+01:00
19286
News
Phoenix Thoroughbreds may need to wait before racing again.
Australian racing groups probe firm allegedly involved in OneCoin
Emilia David
2020-08-29T16:00:00+01:00
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News
The OneCoin case now seems to turn the sibling founders against each other.
OneCoin Founder's Brother Agrees to Testify Against Sister in Settlement
Samuel Haig
2020-08-21T07:48:00+01:00
26094
News
Brother of OneCoin’s missing founder, Konstantin Ignatov is no longer one of key figures in a civil case brought by OneCoin victims.
OneCoin Founder’s Brother Is Dismissed From Civil Class Action
Helen Partz
2020-08-07T21:37:00+01:00
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News
Two promoters of $4 billion crypto exit scam OneCoin have been found dead in Mexico.
Two OneCoin Promoters Found Dead in Mexico
Helen Partz
2020-07-14T15:58:00+01:00
17928
News
A Singapore man was fined $72,000 for operating a multi-level marketing scheme linked to the Ponzi scheme OneCoin.
OneCoin Marketing Scam Operator Fined $72,000 in Singapore
Mohammad Musharraf
2020-07-03T12:18:00+01:00
13425
News
The judge presiding over a class-action lawsuit targeting the executives behind the OneCoin Ponzi scheme has allowed the case to proceed.
Judge Rules Lawsuit Targeting Multi-Billion OneCoin Ponzi Can Proceed
Samuel Haig
2020-05-02T13:27:00+01:00
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