A cryptocurrency scam that has spanned several countries and cost investors billions of dollars continues to shake the cryptocurrency space. OneCoin has already been identified as being nothing more than a complex Ponzi scheme and several individuals are going to see time behind bars because of their actions. While they continue to proclaim their innocence, the company’s world disintegrates further, and the latest indication of the legal problems is demonstrated by the shutting down of OneCoin’s website.
Sometime on November 30, OneCoin.eu was shut down. Per the domain’s registry, EurID, the site was turned off because of the ongoing legal and criminal case that has spanned the U.S., Australia, Ireland and more. Banking officials, lawyers and enterprising individuals who got too greedy are all now under the microscope for their possible involvement in the fraud.
Despite the website having been shut down, it appears that the underlying data, including OneCoin balances, is still intact. This could mean that someone is behind the scenes manipulating data and, possibly, still trading on over-the-counter crypto exchanges. There are also reports of sister sites, such as OneLife.eu, being operational and possibly tied directly to the OneCoin assets. Others that were once said to be associate with the company—OneWorldFoundation.eu, OneWorldAcademy.eu and more—are now offline, as well.
EurID is reportedly assisting with the investigation. If a link can be made between various sites, their creators and OneCoin through domain registries, it will be easier to fully unravel how extensive the damage caused by the scammers truly is.
The closure of the website came only a couple of days after people were seen at the company’s headquarters in Sofia, Bulgaria, removing office equipment. Twitter user “Nickolay Stoyanov” posted a couple of pictures of the activity, adding, “Some action at the OneCoin HQ at last. Doors opened. A small beaten down van parked in front and was filled with various office equipment and supplies. Didn’t seem to be the contents of the famous 3rd floor cash room 🙂 Looked as if the company is moving out, but who knows.”
While many of those involved have already been arrested, the reported leader, Ruja Ignatova is still on the run. She’s hiding out while her brother, Konstantin Ignatov, faces charges in the U.S. and as many as 90 years in jail.
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