Scam Queen Ruja Ignatova's OneCoin Saga - Chronicles of Deceit - Episode Three
In the world of cryptocurrencies, OneCoin stands out as one of the most intriguing and controversial stories. This digital currency, introduced in 2014, promised to be a bitcoin-killer and a unified digital asset that would replace traditional fiat money. However, its journey was far from smooth, and it has since become synonymous with one of the most well-known frauds in the crypto industry.
The Leadership and the Products
Dr. Ruja Ignatova, a woman born in Bulgaria but raised in Germany, was the mastermind behind OneCoin. She claimed to hold a PhD in European private law from the University of Konstanz. Under her leadership, OneCoin offered a range of products such as OneAcademy, OneTablet, and OneCoin Cloud, which were distributed through a multi-level marketing (MLM) structure.
Suspicions and Warnings
As the hype around OneCoin grew, so did the suspicions. Some members started to question its activity, receiving responses filled with strange arguments such as "Don't believe Google!" or "Bitcoin holders are haters! Don't believe them!" Despite these red flags, authorities in multiple countries like Bulgaria, Finland, Norway, Latvia, and others warned people about the risks involved in OneCoin.
In Austria, the Financial Market Authority (FMA), the UK's Financial Conduct Authority (FCA), Germany's Federal Financial Supervisory Authority (BaFin), France's Autorité des Marchés Financiers (AMF), and others issued official warnings against OneCoin due to concerns about illegal financial activities and lack of proper authorization.
The Dramatic Turn
In July 2016, Ruja Ignatova gathered OneCoin's believers at Wembley Stadium, which led to a drastic increase in the number of OneCoiners. However, in October 2017, Ruja failed to appear at a conference in Lisbon, Portugal, and her trail went cold after buying a flight ticket from Sofia to Athens.
The Aftermath
Ruja's disappearance sparked multiple theories about her current location. Some speculated that she had undergone plastic surgery, held Russian and Ukrainian passports, or was possibly dead. In contrast, others believed she was living in Frankfurt, Germany, due to her early years spent there and her ex-husband and baby living there, as suggested by a BBC investigation.
In June 2020, two former OneCoin promoters were found dead in Mexico, with the cause of death being suffocation. Meanwhile, Konstantin Ignatov, a co-founder of OneCoin, was arrested at the airport of Los Angeles in March 2019.
The Hollywood Connection
Despite the controversy, OneCoin's story has been so captivating that it inspired a Hollywood movie. Kate Winslet plays Jen McAdam, an investigative journalist who delves into the world of OneCoin. However, as of now, there is no information about who will play Ruja Ignatova.
The Impact
Every OneCoin package holder was claimed to be a miner, and the minimum investment was 140 pounds, with the maximum being 118,000 GBP. In the first six months of 2016, OneCoin attracted 30 million euros. However, with its founder missing, the future of OneCoin remains uncertain.
In 2016, the Daily Mirror published an article claiming OneCoin to be a scam, a cult, and "virtually worthless." Despite the warnings and the ongoing investigation, the story of OneCoin continues to intrigue and shock, serving as a reminder of the dangers that lurk in the world of cryptocurrencies.
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