OneCoin Website Shuts Down But Continues Operations

OneCoin website finally shuts down further unraveling the biggest Ponzi Schemes in the crypto space. The platform offered ‘’educational packages’’ which was the basis of the scheme and is still carrying the user balances as we are reading further in the crypto news.

The OneCoin website is now down and the DNS record is under investigation for further leads into the scam. The site continued storing the balances and even facilitated OTC trades. The site got down just a few days after the reports of the nondescript van and workers who swept the OneCoin offices in Sofia. In the meantime, Ruja Ignatova, the owner, and inventor of the scheme is still nowhere to be found. The scheme, however, is not dying in any case. It cropped up again in different disguises and the OneLife.EU site is still up, serving the function of continuing the One Coin trading even with new entrants.

The OneWorldFoundation.eu site is also down as well as the OneWorldAcademy.eu. The DNS sites records give a lot of hints that the resources on the OneCoin.eu are under investigation. The EURID DND service said that the site is under ‘’legal investigation’’ without further details on everyone involved. If we dig deeper, the site shows a glimpse of the number of entrants, balances, and transfers. The OneCoin asset does not have a public blockchain or a public record and the investigation gives more insights and adds to the ongoing investigations in Austria, Finland, and Germany.

In the meantime, Konstantin Ignatov, Ruja’s brother, has done a plea deal with the US Department of Justice facing up to 90 years in jail. In the meantime, other leaders and groups that are related to the project remain active. OneCoin managed to drain up to $4 billion by laundering thousands through lawyers and offshore accounts. The Ponzi Scheme appeared during the early stages of Bitcoin and its size surpassed Bitconnet. However, this was a different scheme since it ran in a few countries and avoided legal crackdowns. The scam was reaching out directly to potential buyers in many countries. Most traders, however, are aware of the scam.