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Onecoin's Ponzi Scheme Demise and Aftermath Continues to Impact Investors

In late 2019, the remnants of multi-level Ponzi scheme Onecoin crumbled. However, Onecoin’s founder, dubbed the ‘crypto queen,’ Ruja Ignatova, remains on the run and law enforcement haven’t caught up with her yet. Moreover, police are investigating two churches in New Zealand that allegedly have links to the Onecoin operation and founders.

Also read: Onecoin Websites Suspended as the $4 Billion Ponzi Crumbles

After Onecoin Operations Implode in Cairns, Investors Accept They Were Scammed

In 2014, Ruja Ignatova, Sebastian Greenwood, and Konstantin Ignatov launched a project called Onecoin and allegedly acquired $4 billion from investors unlawfully. Ignatova and her cohorts claimed that Onecoin was a legitimate cryptocurrency and the project followed the coattails of the crypto hype up until mid-2019. Multiple reports had disclosed that there was no blockchain behind Onecoin and the product was merely a multi-level marketing (MLM) Ponzi.

The Fallout From Onecoin's Ponzi Scheme Continues to Impact Investors
From left to right: Ruja Ignatova, Konstantin Ignatov and Sebastian Greenwood are the three accused creators of the Onecoin Ponzi scam. In January 2020, Judge Valerie Caproni gave Onecoin victims permission to serve Ruja Ignatova by alternative means. Ruja Ignatova has been missing for well over a year and law enforcement have not caught up with her. Konstantin Ignatov and Sebastian Greenwood were arrested in 2019.

A few weeks ago, news.Bitcoin.com reported on the Onecoin project falling apart at the seams as leaders were arrested and various websites were seized. For a while, a few Onecoin websites remained operational but most have since been taken down by domain hosts or local law enforcement. Websites like onecoin.eu, oneworldfoundation.eu, and oneacademy.eu show a “server hold” notice when entering the site.

The Fallout From Onecoin's Ponzi Scheme Continues to Impact Investors
The Cairns Post details that the Onecoin MLM Ponzi scheme infected the Australian region.

Now in certain locations around the

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