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.
Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 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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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 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:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 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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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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