Just In: OneCoin Website Shuts Down, Scheme Still Operational

OneCoin scam website shuts down

The OneCoin website is finally down – further unraveling one of the biggest Ponzi schemes in the crypto space. The portal that offered “educational packages” was a remnant of the scheme, and is still carrying user balances.

OneCoin Site Carried Data About User Investments

The OneCoin.EU website is now down, and the DNS record is under investigation for further leads into the OneCoin scam. The site continued storing OneCoin balances, even potentially facilitating OTC trades.

The site went down just a few days after reports of a nondescript van and workers clearing off the final debris from the OneCoin offices in Sofia. In the meantime, Dr. Ruja Ignatova, the mastermind behind the scheme, is still at large.

But the scheme also refuses to die, cropping up again and again in different disguises. The OneLife.eu site is still up, and may be serving the function of continuing the OneCoin trading, even finding new entrants.

The OneWorldFoundation.eu site is also unreachable, as well as the OneWorldAcademy.eu.

The DNS site records give hints that the resources on the OneCoin.eu are under investigation. The EurID DNS service claimed the site is under “legal investigation”, without further details on the entities or agencies involved.

If scrutinized, the site records may give a glimpse of the number of entrants, balances, and possibly transfers. The OneCoin asset does not have a public blockchain or a public record. The investigation may give more insight, and add to the ongoing investigations in Germany, Austria, Finland, and Hungary, among others.

Konstantin Ignatov Faces Long Sentence

Meanwhile, Konstantin Ignatov, Ruja’s brother, reached a plea deal with the US Department of Justice, and faces a 90-year jail sentence. At the same time, other leaders and groups related to the scheme seem to remain active.

OneCoin managed to siphon off up to $4 billion, laundering hundreds of millions through lawyers and offshore accounts. The pyramid appeared during the early years of Bitcoin hype, and its size surpassed that of BitConnect. OneCoin is different, as it managed to run in multiple countries, despite investigations and legal crackdowns. The scam was reaching out directly to potential buyers, from Finland to Nigeria.

And while OneCoin was known in the crypto space, most actual BTC owners and coin supporters were aware of the scam. The wider public, however, seemed to accept OneCoin, and Dr. Ruja Ignatova cut a prominent persona among local celebrities in Sofia, Bulgaria.

The OneCoin offices on Rakovska street were raided in January 2018, lingering as a remnant of the pyramid’s shiny public profile.

What do you think about the closing of the OneCoin.eu site? Share your thoughts in the comments section below!

Images via Shutterstock, Twitter @svrakata

The post Just In: OneCoin Website Shuts Down, Scheme Still Operational appeared first on Bitcoinist.com.

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