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FBI Nabs OneCoin Ringleader at LAX as Massive Crypto Scam Unravels

March 6, th arrested the US Federal Bureau of Investigation (FBI) OneCoin leader Konstantin Ignatov at Los Angeles International Airport (LAX). The government claims he was one of several masterminds behind the multi-billion dollar crypto-pyramid program. OneCoin has faced fines and criminal acts around the world – especially in India, where 22 promoters have already been charged. China has also received charges against promoters of OneCoin, while several central banks have issued warnings. OneCoin claimed to be a revolutionary cryptocurrency. Instead, according to one researcher, it used a simple SQL database rather than a true blockchain. OneCoins' only rival in fraud is BitConnect. Everyone wants to imprison OneCoin Scammers Prosecutors claim that OneCoin was a multi-billion dollar crypto-pyramid program. | Source: Shutterstock While several agencies want to try the OneCoin promoters, the US really has the longest history of prosecuting fraud in the crypto industry. US authorities accused Ignatov of conspiracy to commit wire fraud. He has been in the United States since February 27, when customs agents grabbed his phone and laptop and gathered evidence. His sister faces several accusations: "wire fraud, securities fraud and money laundering." She's still big. [19659010] "As a result of erroneous beliefs like IGNATOV, IGNATOVA and others about OneCoin, the victims invested billions of dollars worldwide in the fraudulent crypto competition. After their arrest, IGNATOV appeared in the Central District of California court and was imprisoned on the charge in the complaint . " Part of the case against Ignatov and Ignatova relates to…

March 6, th arrested the US Federal Bureau of Investigation (FBI) OneCoin leader Konstantin Ignatov at Los Angeles International Airport (LAX). The government claims he was one of several masterminds behind the multi-billion dollar crypto-pyramid program.

OneCoin has faced fines and criminal acts around the world – especially in India, where 22 promoters have already been charged. China has also received charges against promoters of OneCoin, while several central banks have issued warnings.

OneCoin claimed to be a revolutionary cryptocurrency. Instead, according to one researcher, it used a simple SQL database rather than a true blockchain. OneCoins’ only rival in fraud is BitConnect.

Everyone wants to imprison OneCoin Scammers

Prosecutors claim that OneCoin was a multi-billion dollar crypto-pyramid program. | Source: Shutterstock

While several agencies want to try the OneCoin promoters, the US really has the longest history of prosecuting fraud in the crypto industry.

US authorities accused Ignatov of conspiracy to commit wire fraud. He has been in the United States since February 27, when customs agents grabbed his phone and laptop and gathered evidence.

His sister faces several accusations: “wire fraud, securities fraud and money laundering.” She’s still big. [19659010] “As a result of erroneous beliefs like IGNATOV, IGNATOVA and others about OneCoin, the victims invested billions of dollars worldwide in the fraudulent crypto competition. After their arrest, IGNATOV appeared in the Central District of California court and was imprisoned on the charge in the complaint . “

Part of the case against Ignatov and Ignatova relates to the fact that they never launched a real cryptocurrency. Instead, they used their own SQL database to log transactions within the “OneCoin” network. In a typical Ponzi way, they encourage people to invest with “guaranteed” profits.

Fake Blockchain is part of the case against Ignatov

International authorities have become stupefied by how much money the system has managed to bring,

Ignatov’s prosecution partially confirms:

“OneCoin lacks a true, verifiable blockchain that registers OneCoin mining by members […] OneCoins is not actually mined by members. “

The mention of this fact in the accusation makes the case interesting for crypto enthusiasts. By definition, a general blockchain is difficult to call a scam, unless there are prizes or other aspects that unreasonably reward some participants.

However, Ignatov and Ignatova have very actively asserted their role in the development and marketing of OneCoin. The charge mentions the following video:

Ignatov tells a founder in a quote:

“As you said, the network would not work with intelligent people.”

The unnamed co-founder can be a person who is interested in the investigation, or can even cooperate already against Ignatov and Ignatova.

Ignatov’s arrest reveals plans to be De Facto Leader

To get people to buy more coins last year, Ignatov told them they would go public with OneCoin in October 2018. OneCoin wanted existing investors to buy more of it false cryptocurrency pending a price increase. “Going public” never happened, of course.

Perhaps the most interesting aspect of the arrest is that it puts a damper on OneCoin’s backup plans. As those familiar with the case may be aware, Ignatov’s sister, Ruja Ignatova, is in fact the prime promoter and owner of the bluff. Customs agents imprisoned Ignatov and grabbed his phone and laptop in late February. They discovered that he had full authority over his sister’s assets already.

The German authorities have an active refusal and are trying to arrest Ruja Ignatova.

At this point, it is obvious that anyone who is still investing new money in OneCoin has not done any research. The scheme specifically targets idiots and people who are not “intelligent”. A possible clear search of OneCoin will provide warnings from central banks and many reports of OneCoin’s illegality.

But one day ago, a new video went live on YouTube promising a “exchange” for OneCoins.

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Faela