OneCoin

OneCoin was marketed as a cryptocurrency investment platform launched in 2014, promoted by its founder Ruja Ignatova. Promising high returns, it attracted many investors worldwide. However, it was later exposed as a fraudulent scheme because it lacked a real blockchain, provided misleading information, and operated more like a Ponzi scheme. Instead of a genuine cryptocurrency, OneCoin’s value was primarily supported by new investors’ money, leading to significant financial losses for many. In 2019, authorities worldwide shut down OneCoin, and key figures faced legal charges. It serves as a cautionary example of the importance of due diligence in crypto investments.