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...