[Video] Onecoin: The story behind the biggest scam in the history

OneCoin was promoted as a revolution, competitor to banks and “Bitcoin killer”, but it was never a cryptocurrency. There was not a public blockchain nor a private one. All there was a centralized database of people and the tokens or more accurate we can call them “coupons” that victims were acquiring by buying packages. OneCoin did manage to buy two blockchain audits by some unknown German lawyers. So whenever someone confronted them that there is no evidence of a blockchain they replied that they have 2 blockchain audits and all is good.

 

Marketing it as the ‘bitcoin killer’ Dr. Ruja Ignatova once said on stage at one of her events “in two years, nobody will speak about Bitcoin any more!”.
According to the U.S government, they stole around $4 billion, but some internal sources that worked with OneCoin claim that they could steal up to $19.4 billion.

The biggest scams in Cryptocurrency space

OneCoin is one of the biggest scams in the history of scams, not only in the cryptocurrency world. The funniest part is that it was never a cryptocurrency, to begin with. They scammed a lot of money it could be anywhere from $5 to $19,4. The sad part is that they are operating to this day. They made people believe that Dr. Ruja is a “God”, they made people believe in OneCoin, combining that with fake events, fake promotions and offline meetings to pump adrenaline into the people and gain their trust, they created a monster.

That monster is scamming millions out of the poor, uneducated and greedy people it seems like it can’t be killed. People were so blind that they believed in their OneCoin fake USD balance that was shown on the website. If this was all true and they would be able to sell the tokens on such rates that would take a lot of them into the top reachest people on the planet.

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