OneCoin Scam: DOJ Opens Path For Compensation With $40 Million In Forfeited A...
The US Justice Department (DOJ) has announced a compensation process for victims of the OneCoin fraud. The funds are expected to come from property forfeited in the case, money traced back to the people behind the scheme, including co-founders Ruja Ignatova and Karl Sebastian Greenwood. The DOJ said in a Monday statement that more than $40 million in forfeited assets are currently available for victim compensation. OneCoin Proceeds To Compensate Victims OneCoin was an international cryptocurrency investment scheme that ran from 2014 to 2019 and relied on deception to draw in investors....
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A Chinese man who spent 23 years in jail for a murder he never committed has lost one million yuan ($145,000) of his compensation money to OneCoin that many believe is a Ponzi scheme. In a poignant example of how a lack of education makes lay consumers easy prey for OneCoin, Chen Man only realized he had been involved in a pyramid scheme after his lawyer became suspicious. “Most people are not familiar with this area, so, in this new field, I could perhaps stand on the same starting line as everyone else,” Sixth Tone quotes Man as saying. “I’ve been disconnected from society for too long.”....
OneCoin has developed a sketchy reputation, and now bitcoin evangelist Roger Ver is adding to the mix. In a recent interview, the owner of Bitcoin.com says he believes OneCoin is a fraud, and that investors should always be wary of new coins and read up before they put their money in things they don’t understand: “There is never a cryptocurrency without a wallet. This sounds like more evidence of its fraudulent nature. OneCoin isn’t traded on a single exchange anywhere in the world as far as I know.” OneCoin has been around for over two years, but questions surrounding its authenticity....
Onecoin has been considered a scam by many in the digital currency community. Many governments have issued warnings to its citizens asking them not to invest in Onecoin. Onecoin, the so-called cryptocurrency has been around for almost two years now. The digital currency has received mixed responses from the digital currency community, depending on whom you ask about the infamous Onecoin. While those who are invested in the digital currency tend to speak highly of it, others would either call it a scam or would have never heard about it. What Is the Problem with Onecoin? The concept of....
A lawyer representing investors defrauded by the notorious crypto scam Onecoin has urged authorities in Bulgaria to act on the case, claiming that the “world’s largest pyramid scheme” is still operating from the country. In a petition with the Bulgarian Constitutional Ombudsman, Jonathan Levy accuses officials in Sofia of failing to provide justice to the victims while seemingly protecting “the most notorious criminal organization.”
Lawyer Slams Bulgarian Authorities for ‘Misfeasance’ in Onecoin Case
In the petition, Dr. Levy....
The Swedish Bitcoin Foundation released an official statement regarding OneCoin, a cryptocurrency Ponzi scheme that has been around since early 2015. Mats Henricson, the chairman of the Swedish Bitcoin Foundation, wrote in an official statement that the organization believes OneCoin is a fraud and that users who are relatively new to digital currencies and the cryptocurrency industry must be cautious when approaching OneCoin-related programs. Henricson said: “OneCoin has grown immensely large and billions have been put into this phenomenon. But OneCoin is not like the other crypto....