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.
Sentencing for the co-founder of major alleged crypto scam OneCoin has been postponed for a further three months at the request of the U.S. government.
US Court Postpones Sentencing for OneCoin Crypto Scam Co-Founder
The U.S. government has rejected the claim of alleged OneCoin money launderer Mark Scott that it failed to produce sufficient evidence against the former attorn...
Feds Fight Motion to Dismiss Case Against One Coin Crypto Scam Lawyer
As the Federal Reserve reveals it has been told to print as much money as it needs to combat the coronavirus crisis, Crypto-Twitter points out the shortcomings ...
Cardano Chief Compares US Dollar to OneCoin Scam as Fed Keeps Printing
The co-founder of the notorious $5 billion fraud, Ruja Ignatova, will ultimately hit screens after a U.S. production company wins filming rights.
One Coin, Much Drama: OneCoin Ponzi Scheme Lives on as TV Show
Research by U.S. think tank Atlantic Council suggests that OneCoin leveraged fake reviews on TrustPilot and Quora to lure investors.
OneCoin Crypto Ponzi Scheme Used Fake Reviews to Improve Its Image
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