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
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
19870
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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
13943
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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
20124
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Sentencing of the lawyer who laundered $400 million for the OneCoin Ponzi scheme has again been postponed.
Medical Testing Pushes OneCoin Launderer’s Sentencing to July
Samuel Haig
2020-04-26T20:00:00+01:00
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Top OneCoin figure Le Quoc-Hung has returned with a vengeance — using OneCoin’s channels to promote a virtually identical Ponzi scheme called OneLink.
Key OneCoin Figure Returns With New USDT-Powered Ponzi Scheme
Samuel Haig
2020-04-22T16:28:00+01:00
11074
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The latest developments in proceeding surrounding the notorious OneCoin fraud have seen the plaintiffs in a $4 billion suit plead for the suit to continue.
OneCoin Investors Ask Judge Not to Scrap Suit While New Indictment Is Unsealed
Samuel Haig
2020-04-21T11:59:00+01:00
8845
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US judge threatens to throw out $4B class-action suit against OneCoin after its lead plaintiff failed to meet multiple deadlines.
Judge Threatens to Nix OneCoin Suit After Plaintiffs Miss Multiple Deadlines
Samuel Haig
2020-04-12T20:00:00+01:00
5082
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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
Marie Huillet
2020-04-08T09:25:00+01:00
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