Posted on 07/02/2022 8:55:23 AM PDT by BenLurkin
Despite supposedly being a form of crypto, OneCoin didn’t actually have a payment system or a blockchain model, the crucial technology that underpins cryptocurrencies — thus rendering OneCoin’s tokens essentially worthless. Ignatova and the company’s founders are accused of knowing as much. (In a statement to the BBC in 2019, OneCoin denied any wrongdoing.)
OneCoin relied on its users to bring in more participants by offering a slew of rewards, commissions and “trading packages” at different price points, according to federal investigators. In the end, the network of investors spanned over a hundred countries. More than 3 million people are believed to have been duped, Williams, the prosecutor, said Thursday.
Ignatova was indicted by a federal grand jury that month and a warrant for her arrest was issued. She’s been charged with conspiracy to commit wire fraud, wire fraud, conspiracy to commit money laundering, securities fraud and conspiracy to commit securities fraud. The first four counts each carry a sentence of up to 20 years in prison, while the last is punishable by up to five years in prison.
(Excerpt) Read more at washingtonpost.com ...
Ruja Ignatova, Bulgarian, on the run since 2017.
Never understood the crypto currency thing. Not the “mining” of the same.
Sounds to much like a Ponzi scheme.
Could anyone educate me otherwise?
You can’t con an honest person.
Cryptoqueen sounds like a Lady Pro Wrestler. She would be a Cruella deville type of character.
I don't see those responses much anymore.
Porquoi?
Sounds too much like the “tulip panic” hundreds of years ago.
Except there’s no tulips.
The whole thing is that nobody really understands it! That’s the main selling point:
“We have a genial scientific scheme, invest in the future”.
And gullible people do.
Basically encrypting scheme which allows only the owners of the key to draw on it and sell it to other keys.
The ledger is kept on autonomous computer network. To give the people keeping the network some incentive, they are rewarded by getting some of the currency (miners).
The biggest advantage - could be hidden, and easy transferred across the borders.
So, I believe, the main investors are the cartels, mafias, oligarchs and money launderers.
By the way, it is not too safe, hackers stole a lot of it, if you forget your key, you are out of luck, if all miners decide they had enough, the thing will evaporate on itself.
It is not backed by anything.
Kind of a collectible, worth what people are willing to pay.
Those are my own impressions, correct me if I am wrong.
Just do not tell me “This is the future” or “amazing science”.
As far as hackers stealing, wouldn’t they leave a digital trail to whatever place they conv rt the money into, well money?
And I agree, cartels and other underground economies love this crypto currency.
But the more I read about block chain the more it appears just as hyped as crypto and another dead end.
Who can you hire to get it back for you if your crypto has been transferred through multiple accounts and converted to cash since the initial theft?
And even if they can track where the money is who is going to ask the oligarch with a fully armed bodyguard to please give it back?
Seems she found a better paying gig than crystal balls.
Depends on how well-connected the oligarch is to the Deep State. If not, the Deep State can declare the area a "terrorist base" and send fighter jets to blow up the oligarch and all his bodyguards.
I thought this was going to be about someone who does cryptograms...which I love.
How disappointing that she is not.
I suspect her ego won't allow her to disguise herself.
She can run, she can hide
Having the time of her life
Ooh, see that girl, watch that scene
Digging the crypto queen
Dunno. That’s why I asked questions.
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