OneCoin – SCAM ALERT

Page Summary

OneCoin is a Ponzi scheme promoted as a cryptocurrency. Offshore companies OneCoin Ltd and OneLife Network Ltd are behind the scheme. Ruja Ignatova founded both these companies. Ruja disappeared in 2017 and a US warrant is filed against her. US prosecutors estimate that the OneCoin Ponzi scheme has defrauded investors of over $4 billion worldwide.  

OneCoin

How did OneCoin work?

OneCoin sold trading educational material and tokens to investors. These tokens were promised to mine Onecoins. These Onecoins weren’t decentralized but hosted on OneCoin Ltd’s servers. Victims could exchange Onecoins for Euros via the OneCoin Exchange or xcoinx. These Euros were paid out in a virtual wallet hosted on OneCoins servers. From there, users could request a wire transfer. The withdrawal limits were low and victims could never fully withdraw their invested money.  

Disclaimer

eToro is a multi-asset investment platform. The value of your investments may go up or down. Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site is registered on wpml.org as a development site.