LinuxQuestions.org - "Onecoin" Cybercurrency Fraud Conviction

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"Onecoin" Cybercurrency Fraud Conviction

Abovethelaw.com reports on a lawyer convicted of money laundering and fraud using the cybercurrency "Onecoin."

They cite an article from Law.com. Here's a bit from that article:

Quote:

Federal prosecutors said Scott was introduced to Ignatova in September 2015 and eventually helped her launder hundreds of millions of dollars from OneCoin, which raised about $4 billion through a pyramid scheme. While OneCoin purported to be a digital token whose transactions were recorded on a blockchain, unlike real cryptocurrencies, there was no decentralized, public blockchain to ensure the system’s integrity.

here at finland *krp investigated onecoin 2015 and said it is a fraud.

*) finnish fbi

They were certainly correct.