Breathtaking story of the largest cryptoscam ever. Starting from an office in Sofia, Bulgaria, Dr Ruja Ignatova managed to growth her fake currency OneCoin to a global scheme of more than €4bn. Then she disappeared. Regulators should do more against this https://www.bbc.com/news/stories-50435014?fbclid=IwAR2bir0ZA44s1FQF5BUYAtcJVRxTM8u3fJ8KYj3LO0pXXKYBJpy9QLokV7U
Amazingly, even after her disappearance, OneCoin continued to function - and people kept investing, from all around the world - from the UK to villages in Uganda. Their irrational belief has been kept up by lavish style presentations and paid magazine front covers.
People in Uganda have sold their homes to invest in the scam. "One of the main OneCoin offices in Kampala is attached to a church. There are videos of the minister, known as Bishop Fred, leading the congregation in call and response. "One Life!" - "One Coin!"
"Dr Ruja identified several of society's weak spots and exploited them. She knew there would be enough people either desperate enough, or greedy enough, or confused enough to take a bet on OneCoin"
Great in-depth investigative journalism by the BBC, with some help by @Svrakata
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