The alleged scam, which is estimated to have stolen at least $4.4 billion, was operational until late last week.
The website that acted as the main platform for OneCoin, the infamous crypto Ponzi Scheme that is known to have scammed investors out of at least $4 billion, is finally offline. The news appears to have been originally reported by multi-level marketing scheme monitor BehindMLM.com on December 1, 2019.
“[Domain Name System (DNS)] records show that while the company still owns the website domain, it is now under investigation” as of November 30th, the monitor explained, adding that while it is unclear exactly who is investigating the site, OneCoin’s DNS status has been changed to “server hold” by EurID, its domain registry.
EurID confirmed that the server hold had been placed because of an investigation, but did not disclose who the investigating party is.
Previously, OneCoin denied accusations that it is a Ponzi scheme in spite of multiple investigations by a number of governments around the world and continued its operations without major interruption.
Additionally, several other websites previously associated with OneCoin, including OneWorldFoundation.eu and OneWorldAcademy.eu, have also gone offline. OneLife.eu, however, appears to be still up and running, offering OneCoin investment packages as though nothing has happened.
Law enforcement is closing in on OneCoin
If successful, the investigation into OneCoin’s site records could provide insight into exactly how far OneCoin’s reach extended. Because there is no Blockchain or other public record associated with OneCoin, the site’s records may offer some information on the number of participants and the scam’s balance, as well as other information.
The closure of the site appears to be the latest move in a number of actions that have been taken against OneCoin and its co-founder founder, Ruja Ignatova, who is currently at large.
Last month, a federal jury in Manhattan found former OneCoin lawyer Mark S. Scott guilt for aiding OneCoin and Ruja Ignatova launder over $400 million in proceeds from the project. Scott was allegedly paid $50 million in exchange for his services.
(This article previously stated that Konstantin Ignatov is currently serving a 90-day jail sentence. Finance Magnates was unable to verify this claim; however, Ignatov is currently in custody after his bond application was denied by Judge Edgardo Ramos of the New York Southern District Court this June.)
The website that acted as the main platform for OneCoin, the infamous crypto Ponzi Scheme that is known to have scammed investors out of at least $4 billion, is finally offline. The news appears to have been originally reported by multi-level marketing scheme monitor BehindMLM.com on December 1, 2019.
“[Domain Name System (DNS)] records show that while the company still owns the website domain, it is now under investigation” as of November 30th, the monitor explained, adding that while it is unclear exactly who is investigating the site, OneCoin’s DNS status has been changed to “server hold” by EurID, its domain registry.
EurID confirmed that the server hold had been placed because of an investigation, but did not disclose who the investigating party is.
Previously, OneCoin denied accusations that it is a Ponzi scheme in spite of multiple investigations by a number of governments around the world and continued its operations without major interruption.
Additionally, several other websites previously associated with OneCoin, including OneWorldFoundation.eu and OneWorldAcademy.eu, have also gone offline. OneLife.eu, however, appears to be still up and running, offering OneCoin investment packages as though nothing has happened.
Law enforcement is closing in on OneCoin
If successful, the investigation into OneCoin’s site records could provide insight into exactly how far OneCoin’s reach extended. Because there is no Blockchain or other public record associated with OneCoin, the site’s records may offer some information on the number of participants and the scam’s balance, as well as other information.
The closure of the site appears to be the latest move in a number of actions that have been taken against OneCoin and its co-founder founder, Ruja Ignatova, who is currently at large.
Last month, a federal jury in Manhattan found former OneCoin lawyer Mark S. Scott guilt for aiding OneCoin and Ruja Ignatova launder over $400 million in proceeds from the project. Scott was allegedly paid $50 million in exchange for his services.
(This article previously stated that Konstantin Ignatov is currently serving a 90-day jail sentence. Finance Magnates was unable to verify this claim; however, Ignatov is currently in custody after his bond application was denied by Judge Edgardo Ramos of the New York Southern District Court this June.)
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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