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In June 2016, Dr Ruja Ignatova told an audience of thousands at Wembley Arena that her new cryptocurrency, OneCoin, was a "Bitcoin killer" and would make early investors rich. Many in the crowd had already poured in their life savings. Many more followed. About £2bn from across the world was spent on OneCoin tokens, including tens of millions of pounds from British families. Then, in late 2017, Ruja disappeared and the scheme was exposed to be a scam. There was no cryptocurrency. It was an old-fashioned Ponzi scheme. For 18 months, I've investigated the scandal for BBC Sounds, for the podcast The Missing Cryptoqueen, alongside my producer, Georgia Catt. After a break, we returned for a new episode last week, which focused in part on the UK's Financial Conduct Authority.
By Jamie Bartlett
Presenter, The Missing Cryptoqueen
Published 11 August
Bitcoin fraud well know PONZI SCHEME
'Fake Bitcoin' - How this Woman Scammed the World, then Vanished
- 8 Feb 2020 ColdFusion
Onecoin promised the world, but only proved to be a trail of destruction.
Why is this scamming group still in full function?
More people should be arrested!
I was asking myself the same question without results!
Too many financial crooks are out there and not everyone is keeping tracking records!
Apparently this woman did not lie that much, every foolish investor ended up with ONE COIN!
It wasn't named 'onecoin' for nothing!
IDIOTS with a lot of money get caught in these scams!