OneCoin scam still alive and promoting in Japan

OneCoin cryptocurrency scam may be under global crackdown, but this has done little to thwart its activities. The company is still alive and is still luring investors with promises of huge wealth. OneCoin is set to hold an event in Tokyo in a week’s time and is openly advertising it on social media platforms.

By now, OneCoin is synonymous with crypto scams. The project managed to rake in over $4 billion from investors in a few years, with some reports putting the funds raised at over $15 billion. The founder, Ruja Ignatova, alias the Cryptoqueen, managed to convince tens of thousands of investors that OneCoin would obliterate Bitcoin and take up the mantle. So convincing was she that investors from 170 countries globally invested in the scam.

However, despite the efforts of the United States and other countries to thwart the scam, it appears OneCoin is still alive. The company is set to host a ‘leadership meeting’ on February 22 and 23 dubbed the Tokyo . According to a Facebook post, the event will be held at the TKP Garden City Shinagawa in Tokyo.

Initially, the event was scheduled to be grander and host thousands of people. But according to an update on the DealShaker website, the Coronavirus outbreak has limited the number of people allowed to congregate for any purpose in Japan and it had to be scaled downwards. The organizers touted the Expo as “an event where you can enjoy shopping using OneCoin, the next-generation cryptocurrency, which is now spread to more than 200 regions and countries.”

The advert on Facebook shows just how bold the people behind this scam are. Despite being openly accused of a $4 billion scam, and some of the involved parties already arrested, OneCoin is still alive.

This boldness and disregard of the facts is nothing new, unfortunately. Recently, New Regency Television bid for and won the rights to air The Missing Cryptoqueen, a BBC podcast that focuses on Dr. Ruja Ignatova, the founder of OneCoin. It narrates how she managed to establish herself as a crypto expert, convinced tens of thousands to invest in her project and then vanished from the eye of the law when it all collapsed.

The podcast exposes her for the villain she is and there’s no possible way to twist this to favor OneCoin. Except there is, and Kamran Hye, a OneCoin marketing executive is doing it. Jamie Bartlett, a present of the podcast exposed Hye’s gimmicks on Twitter earlier this month. The scammer twisted the narrative, stating that the bidding wars for the TV rights were proof that the world is dying to know more about OneCOin and that people should invest in the crypto when there’s still time.

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