As I’m sure most of you have already heard, OneCoin is the crypto scam of all scams. Currently defrauding individuals and investors worldwide from over $4 billion dollars. OneCoin was claimed to be a cryptocurrency which originated in Bulgaria. OneCoin even had its own crypto wallet. They sold educational, promotional and financial analysis. They had users pay for these materials (similar to a pyramid scheme).
OneCoin’s ‘coins’ were obtained through mining and operated on a centralized network that handled all of the technical aspects. This crypto scheme is being brought down in several nations around the globe.
However, even now in 2020, reports in New Zealand that OneCoin is still being sold! A second Samoan church is currently being investigated by the Department of internal Affairs for their involvement in the OneCoin scam. OneCoin apparently takes no responsibility for any independent contractors who sell the product on their own and they even deny any wrongdoings to this day!