What Is Onecoin and Is It Legitimate?

OneCoin is said to be a cryptocurrency that is based on blockchain technology, just as Bitcoin, Litecoin, Dash, etc. In reality, OneCoin is not even close to these cryptocurrencies and is just promoted as similar. It’s official that OneCoin is a scam – there is even a wiki page about it.

Even though the project claims that it is “the first transparent, global Cryptocurrency for everyone,” it’s not that difficult to see that the whole scheme is a scam and that there is no transparency there.

OneCoin was started by Ruja Ignatova, a Bulgarian woman who claims that she graduated from Oxford, though there no proof of this. Sebastian Greenwood is also part of the OneCoin scam. He has previously dealt with more multi-level marketing companies that were proven to be Ponzi schemes.

Many central banks around the world warned their citizens that OneCoin was a scam.

In January 2018, Bulgarian prosecutors, organized crime agency, and agents from the national security conducted a raid in OneCoin’s offices in Sofia, Bulgaria. The whole operation was at the request of Germany. The agents confiscated many documents and servers and interrogated about 50 people, though no arrests have been reported.

You can see their office in Sofia in this video:


OneCoin used to sell its members different educational materials about cryptocurrencies, trading and other things – all of which were plagiarized. The whole system is an MLM scheme where people from the top profit by bringing new victims to the bottom of the pyramid. You shouldn’t even question whether OneCoin is a scam or not – don’t even try to enter their game. It was officially labelled as a total scam.

If you want to watch Ruja in action, check this:


She seems to be very ambitious and a master in selling, but today more and more people realize that they should stay away from OneCoin.

It is true that some people could become richer with OneCoin, but only because they were lucky to be the first one to enter the pyramid – such people are needed to perpetuate the scam.

Don’t fall for this scam!



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