OneCoin was presented as an alternative to Bitcoin. Its founder, Ruja Ignatova, once said it would eat up its rival.
Many across the world have fallen prey to these ambitious words. Anyway, it has not eaten up its rival, but has eaten up several millions.
Not only has the new digital currency presented as a revolutionary idea failed to offer what they have assured to its customers, but also it has turned out to the biggest scam the world have ever witnessed.
The kingpin of the scam, Ms. Ruja, is now missing – rightly speaking, absconding. No one knows where she is now, except some unverified clues suggest her presence in the Eastern European.
No one knows exactly how much money she has swindled. In fact, the company was live until recently. It worked smoothly for many years even after the missing of its founder leader.
What Ms. Ruja’s currency has exploited is the lack of the existence of laws that govern the functioning of digital currency in several countries, and the greed of some to make easy money.
Her brother, who assumed the leadership of the company based on Bulgaria after her missing, was recently arrested by the US on the charge of fraud and several other similar charges. Interestingly, he during a court hearing confessed his dumpiness, and placed the entire blame on his missing sister.
In fact, the action raises several doubts over the missing of the lady, as everyone knows it is easy to blame a missing person.
Ms. Ruja’s company is one of the very few companies in the world which have used the possibility of Multi Level Marketing to its fullest potential.
In this juncture it is easy to blame the genius who is a doctorate holder, as she is not around to justify her stand.
The digital currency company has to give several answers. If its founder is the only one who can answer those questions, she should be traced out.
Governments are supposed to safeguard the lives and assets of their people. The longer it takes for governments to trace out this lady, the harder it becomes for them to convince their people.
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