‘OneCoin’ called a large pyramid scheme according to US officials
|- Ponzi scheme being subbed as OneCoin has been doing the rounds across the market.
- Prosecutors noted that OneCoin is still in operation has ha over 3million members,
U.S. authorities announced on Friday detailed criminal fines against alleged leaders of a multi-billion pyramid scheme, the scheme which involved the sale of a fraudulent cryptocurrency, known as OneCoin across the market.
OneCoin run by Konstantin Ignatov, who runs and his sister known as Ruja Ignatova, who co-founded OneCoin and is dubbed as the “Cryptoqueen,” have been accused of misleading investors coveting big returns and low risk, in a scheme conceived as a fraud.
Prosecutors detailed OneCoin, which is still in operation, claimed to have over 3 million members, that are supposed to receive commissions for recruiting new members to buy cryptocurrency packages.
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