OneCoin Scheme Collapses - Revision history

Azoundria: COMPLETE 30 minutes. All sources expanded to have proper title and date formatting. Integrated information from BBC article about the Financial Conduct Authority in the UK.

2025-02-12T22:19:07Z

COMPLETE 30 minutes. All sources expanded to have proper title and date formatting. Integrated information from BBC article about the Financial Conduct Authority in the UK.

Show changes

Azoundria: Expanded the timeline. Updated some references. Integrating information from BBC article.

2025-02-04T18:38:25Z

Expanded the timeline. Updated some references. Integrating information from BBC article.

Show changes

Azoundria: Summary review. Updated and rewrote the main introduction section of OneCoin case. Information from reality section relocated to other relevant sections. Basic sections for technical details, outcome. Information from immediate reaction relocated. Updating information in the timeline based on what we could find. Looking at the prevention section more. Not great fit for individual. Basic prevention area filled in further. Removed significant amounts of template content.

2025-01-31T23:22:18Z

Summary review. Updated and rewrote the main introduction section of OneCoin case. Information from reality section relocated to other relevant sections. Basic sections for technical details, outcome. Information from immediate reaction relocated. Updating information in the timeline based on what we could find. Looking at the prevention section more. Not great fit for individual. Basic prevention area filled in further. Removed significant amounts of template content.

Show changes

Azoundria: Another 30 minutes complete. About section split apart. Integrated information from a few different sources into the timeline.

2023-12-29T17:43:33Z

Another 30 minutes complete. About section split apart. Integrated information from a few different sources into the timeline.

Show changes

Azoundria at 00:56, 29 December 2023

2023-12-29T00:56:14Z

← Older revision		Revision as of 18:56, 28 December 2023
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	[[File:Onecoin.jpg\|thumb\|OneCoin]]Onecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large.		[[File:Onecoin.jpg\|thumb\|OneCoin]]Onecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large.

	This is a global/international case not involving a specific country.<ref name="bbc-5715" /><ref name="vocal-5675" /><ref name="ducktatormedium-5702" /><ref name="investopedia-5716" /><ref name="wikipedia-5717" /><ref name="bitcoinist-5718" /><ref name="nakedsecurity-5719" /><ref name="wikipedia-5720" /><ref name="bbc-5861" /><ref name="bloomberg-5862" /><ref name="trtworld-5863" /><ref name="fool-5864" /><ref name="coindesk-5865" /><ref name="coindesk-5866" /><ref name="coindesk-5867" /><ref name="wallstreetjournal-5868" /><ref name="cointelegraph-5869" /><ref name="yahoofinance-5870" /><ref name="reuters-5871" /><ref name="filmdaily-5872" /><ref name="behindmlm-5873" /><ref name="bbc-5964" /><ref name="comparitech-10032" />		This is a global/international case not involving a specific country.<ref name="bbc-5715" /><ref name="vocal-5675" /><ref name="ducktatormedium-5702" /><ref name="investopedia-5716" /><ref name="wikipedia-5717" /><ref name="bitcoinist-5718" /><ref name="nakedsecurity-5719" /><ref name="wikipedia-5720" /><ref name="bbc-5861" /><ref name="bloomberg-5862" /><ref name="trtworld-5863" /><ref name="fool-5864" /><ref name="coindesk-5865" /><ref name="coindesk-5866" /><ref name="coindesk-5867" /><ref name="wallstreetjournal-5868" /><ref name="cointelegraph-5869" /><ref name="yahoofinance-5870" /><ref name="reuters-5871" /><ref name="filmdaily-5872" /><ref name="behindmlm-5873" /><ref name="bbc-5964" /><ref name="comparitech-10032" /><ref name="mycryptoblog-10095" /><ref name="unnamed-12132" />

	== About OneCoin ==		== About OneCoin ==
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	<ref name="bbc-5964">[https://www.bbc.com/news/technology-49826161 https://www.bbc.com/news/technology-49826161] (Jan 24, 2022)</ref>		<ref name="bbc-5964">[https://www.bbc.com/news/technology-49826161 https://www.bbc.com/news/technology-49826161] (Jan 24, 2022)</ref>

	<ref name="comparitech-10032">[https://www.comparitech.com/crypto/cryptocurrency-scams/ Worldwide crypto & NFT rug pulls and scams tracker - Comparitech] (Dec 15, 2022)</ref></references>		<ref name="comparitech-10032">[https://www.comparitech.com/crypto/cryptocurrency-scams/ Worldwide crypto & NFT rug pulls and scams tracker - Comparitech] (Dec 15, 2022)</ref>

			<ref name="mycryptoblog-10095">[https://blog.mycrypto.com/2019-in-review--major-blockchain-crypto-security-incidents 2019 In Review: Major Blockchain/Crypto Security Incidents \| MyCrypto Blog] (Dec 28, 2022)</ref>

			<ref name="unnamed-12132">[https://www.bbc.co.uk/programmes/p07nkd84/episodes/downloads BBC Radio 5 Live - The Missing Cryptoqueen - Downloads] (Oct 27, 2023)</ref></references>

Azoundria at 17:49, 16 October 2023

2023-10-16T17:49:06Z

← Older revision		Revision as of 11:49, 16 October 2023
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	[[File:Onecoin.jpg\|thumb\|OneCoin]]Onecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large.		[[File:Onecoin.jpg\|thumb\|OneCoin]]Onecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large.

	This is a global/international case not involving a specific country.<ref name="bbc-5715" /><ref name="vocal-5675" /><ref name="ducktatormedium-5702" /><ref name="investopedia-5716" /><ref name="wikipedia-5717" /><ref name="bitcoinist-5718" /><ref name="nakedsecurity-5719" /><ref name="wikipedia-5720" /><ref name="bbc-5861" /><ref name="bloomberg-5862" /><ref name="trtworld-5863" /><ref name="fool-5864" /><ref name="coindesk-5865" /><ref name="coindesk-5866" /><ref name="coindesk-5867" /><ref name="wallstreetjournal-5868" /><ref name="cointelegraph-5869" /><ref name="yahoofinance-5870" /><ref name="reuters-5871" /><ref name="filmdaily-5872" /><ref name="behindmlm-5873" /><ref name="bbc-5964" />		This is a global/international case not involving a specific country.<ref name="bbc-5715" /><ref name="vocal-5675" /><ref name="ducktatormedium-5702" /><ref name="investopedia-5716" /><ref name="wikipedia-5717" /><ref name="bitcoinist-5718" /><ref name="nakedsecurity-5719" /><ref name="wikipedia-5720" /><ref name="bbc-5861" /><ref name="bloomberg-5862" /><ref name="trtworld-5863" /><ref name="fool-5864" /><ref name="coindesk-5865" /><ref name="coindesk-5866" /><ref name="coindesk-5867" /><ref name="wallstreetjournal-5868" /><ref name="cointelegraph-5869" /><ref name="yahoofinance-5870" /><ref name="reuters-5871" /><ref name="filmdaily-5872" /><ref name="behindmlm-5873" /><ref name="bbc-5964" /><ref name="comparitech-10032" />

	== About OneCoin ==		== About OneCoin ==
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	\|		\|
	\|}		\|}

			== Technical Details ==
			This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

	== Total Amount Lost ==		== Total Amount Lost ==
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	<ref name="behindmlm-5873">[https://behindmlm.com/companies/onecoin/the-onecoin-ponzi-wall-of-shame/ The OneCoin Ponzi wall of shame] (Jan 21, 2022)</ref>		<ref name="behindmlm-5873">[https://behindmlm.com/companies/onecoin/the-onecoin-ponzi-wall-of-shame/ The OneCoin Ponzi wall of shame] (Jan 21, 2022)</ref>

	<ref name="bbc-5964">[https://www.bbc.com/news/technology-49826161 https://www.bbc.com/news/technology-49826161] (Jan 24, 2022)</ref></references>		<ref name="bbc-5964">[https://www.bbc.com/news/technology-49826161 https://www.bbc.com/news/technology-49826161] (Jan 24, 2022)</ref>

			<ref name="comparitech-10032">[https://www.comparitech.com/crypto/cryptocurrency-scams/ Worldwide crypto & NFT rug pulls and scams tracker - Comparitech] (Dec 15, 2022)</ref></references>

Azoundria at 16:28, 14 April 2023

2023-04-14T16:28:38Z

← Older revision		Revision as of 10:28, 14 April 2023
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	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/onecoinschemecollapses.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/onecoinschemecollapses.php}}
	{{Unattributed ~~Citations~~}}		{{Unattributed Sources}}

	[[File:Onecoin.jpg\|thumb\|OneCoin]]Onecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large.		[[File:Onecoin.jpg\|thumb\|OneCoin]]Onecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.<ref name="bbc-5715" /><ref name="vocal-5675" /><ref name="ducktatormedium-5702" /><ref name="investopedia-5716" /><ref name="wikipedia-5717" /><ref name="bitcoinist-5718" /><ref name="nakedsecurity-5719" /><ref name="wikipedia-5720" /><ref name="bbc-5861" /><ref name="bloomberg-5862" /><ref name="trtworld-5863" /><ref name="fool-5864" /><ref name="coindesk-5865" /><ref name="coindesk-5866" /><ref name="coindesk-5867" /><ref name="wallstreetjournal-5868" /><ref name="cointelegraph-5869" /><ref name="yahoofinance-5870" /><ref name="reuters-5871" /><ref name="filmdaily-5872" /><ref name="behindmlm-5873" /><ref name="bbc-5964" />
	<ref name="bbc-5715" /><ref name="vocal-5675" /><ref name="ducktatormedium-5702" /><ref name="investopedia-5716" /><ref name="wikipedia-5717" /><ref name="bitcoinist-5718" /><ref name="nakedsecurity-5719" /><ref name="wikipedia-5720" /><ref name="bbc-5861" /><ref name="bloomberg-5862" /><ref name="trtworld-5863" /><ref name="fool-5864" /><ref name="coindesk-5865" /><ref name="coindesk-5866" /><ref name="coindesk-5867" /><ref name="wallstreetjournal-5868" /><ref name="cointelegraph-5869" /><ref name="yahoofinance-5870" /><ref name="reuters-5871" /><ref name="filmdaily-5872" /><ref name="behindmlm-5873" /><ref name="bbc-5964" />

	== About OneCoin ==		== About OneCoin ==
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	!Description		!Description
	\|-		\|-
	\|January 15th, 2017 ~~12:00:00 AM~~		\|January 15th, 2017
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
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	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

			== Platform Prevention Policies ==
			{{Prevention:Platforms:Placeholder}}

			{{Prevention:Platforms:End}}

			== Regulatory Prevention Policies ==
			{{Prevention:Regulators:Placeholder}}

	== Prevention ~~Policies ==~~		{{Prevention:Regulators:End}}
	~~Which policies could have prevented this event from happening?~~

	== References ==		== References ==

Azoundria at 01:00, 16 February 2023

2023-02-16T01:00:55Z

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/onecoinschemecollapses.php}} OneCoinOnecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large. This is a global/international case not involving a specific country. == A..."

2023-01-24T20:49:24Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/onecoinschemecollapses.php}} thumb|OneCoinOnecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large. This is a global/international case not involving a specific country. == A..."

New page

{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/onecoinschemecollapses.php}}

[[File:Onecoin.jpg|thumb|OneCoin]]Onecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large.

This is a global/international case not involving a specific country.

== About OneCoin ==
"OneCoin [was] promoted as a cryptocurrency by Bulgaria-based[ offshore companies OneCoin Ltd (registered in Dubai) and OneLife Network Ltd (registered in Belize), both founded by Ruja Ignatova in concert with Sebastian Greenwood." "Ruja Ignatova started OneCoin in 2014, claiming it worked just like any other cryptocurrency. The claim was that OneCoins could be mined (with 120 billion coins available) and used to make payments, even having an e-wallet. However, there was no OneCoin blockchain model or payment system."

"The company did sell educational materials, such as courses on cryptocurrencies. This was considered its main business. The courses included other areas as well, such as trading and investing." "Much of the course material offered was said to be plagiarized." "The courses were part of a multi-level marketing (MLM) scheme, where buyers were offered rewards for bringing in more participants."

"The exchange for converting OneCoin into other currencies was the OneCoin Exchange xcoinx, which was an internal marketplace. Members were able to access the exchange if they bought more than just the beginner package."

"On 1 March 2016, without notice, OneCoin issued an internal notice that the market would be closed for two weeks for maintenance, explaining that this was necessary due to the high number of miners and for "better integration with blockchain". On 15 March 2016, the market opened again but no visible changes had been made; most of the transactions expired as before and daily limits stayed on."

"Selling limits were placed on the accounts based on the level of education package purchased. In January 2017, the exchange was shut down. Leading up to the shutdown, OneCoin denied the majority of withdrawal requests. The exchange was the only way for affiliates to cash out."

“The only way to become part of the IPO. You will be able to exchange these OneCoins over the next month into so-called OFCs. An OFC is a future certificate that entitles you to receive shares in the company OneCoin that will be listed on the stock exchange.”

"OneCoin was a cryptocurrency-based Ponzi scheme. The companies behind the scheme was OneCoin Ltd. and OneLife Network Ltd., founded by Bulgarian national Ruja Ignatova, who disappeared in 2017. However, not before the scheme raised $4 billion."

"OneCoin is to blame for the loss of over $30 million in invested funds, making it one of the most widespread cryptocurrencies that were proven to be scams. Unfortunately, the fake cryptocurrency is hard to pin down, as it has made splashes in Vietnam, China, India, Bulgaria, and Italy (just to name a few), without actually being licensed in any of them. Until OneCoin is completely dismantled, many nations are on high alert for signs of the fraudulent organization."

"OneCoin is a sophisticated multi-layered Ponzi scheme. The company was busted in India and some of the European countries. People have spent millions on ICO despite the fact that OneCoin doesn’t even have a public ledger and official license. What makes this ICO one of the top-level scams is that after 2.5 million euro fine in Italy and $30 million fine in China this company keeps existing. If you want to know it, they didn’t develop anything new since the times when their crimes were revealed."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

* Known history of when and how the service was started.
* What problems does the company or service claim to solve?
* What marketing materials were used by the firm or business?
* Audits performed, and excerpts that may have been included.
* Business registration documents shown (fake or legitimate).
* How were people recruited to participate?
* Public warnings and announcements prior to the event.

Don't Include:

* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
* Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - OneCoin Scheme Collapses
!Date
!Event
!Description
|-
|January 15th, 2017 12:00:00 AM
|First Event
|This is an expanded description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost is unknown.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

== Ultimate Outcome ==
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

== Total Amount Recovered ==
It is unknown how much was recovered.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?

== Prevention Policies ==

== References ==
[https://www.bbc.com/news/stories-50435014 https://www.bbc.com/news/stories-50435014] (Dec 12)

[https://vocal.media/theChain/cryptocurrencies-that-were-proven-to-be-scams Cryptocurrencies That Were Proven to Be Scams | The Chain] (Jan 16)

[https://medium.com/@ducktator/ico-scams-hall-of-fame-dc915f1189af https://medium.com/@ducktator/ico-scams-hall-of-fame-dc915f1189af] (Jan 17)

[https://www.investopedia.com/terms/o/onecoin.asp OneCoin] (Jan 17)

[https://en.wikipedia.org/wiki/OneCoin OneCoin - Wikipedia] (Jan 17)

[https://bitcoinist.com/scam-onecoin-prepares-go-public/ Blueprint to a Digital Scam: OneCoin Prepares to 'Go Public'] (Jan 17)

[https://nakedsecurity.sophos.com/2019/11/25/onecoin-crypto-scam-lawyer-found-guilty-of-worldwide-400m-fraud/ OneCoin crypto-scam lawyer found guilty of worldwide $400m fraud – Naked Security] (Jan 17)

[https://en.wikipedia.org/wiki/Ruja_Ignatova Ruja Ignatova - Wikipedia] (Jan 17)

[https://www.bbc.com/news/technology-53721017 https://www.bbc.com/news/technology-53721017] (Jan 21)

[https://www.bloomberg.com/news/articles/2021-10-19/florida-man-pleads-guilty-to-role-in-4-billion-onecoin-fraud Bloomberg - Are you a robot?] (Jan 21)

[https://www.trtworld.com/video/off-the-grid/warning-onecoin-biggest-crypto-scam-run-by-missing-crypto-queen/5dd682dab53db8001717a063 !! WARNING !! ONECOIN “BIGGEST CRYPTO SCAM” RUN BY MISSING CRYPTO QUEEN - TRT World] (Jan 21)

[https://www.fool.com/the-ascent/cryptocurrency/articles/what-we-can-learn-from-onecoin-cryptos-biggest-scam/ What We Can Learn From OneCoin, Crypto's Biggest Scam] (Jan 21)

[https://www.coindesk.com/policy/2021/09/02/seychelles-police-asked-to-probe-transfer-of-230k-bitcoin-linked-to-onecoin-scam/ Seychelles Police Asked to Probe Transfer of 230K Bitcoin Linked to OneCoin Scam] (Jan 21)

[https://www.coindesk.com/policy/2021/05/18/4b-ponzi-scheme-onecoin-and-cryptoqueen-leader-found-in-default-in-us-lawsuit/ $4B Ponzi Scheme OneCoin and ‘CryptoQueen’ Leader Found in Default in US Lawsuit - CoinDesk] (Jan 21)

[https://www.coindesk.com/policy/2020/09/25/onecoin-investors-allege-bny-mellon-aided-4b-fraud/ OneCoin Investors Allege BNY Mellon Aided $4B Fraud - CoinDesk] (Jan 21)

[https://www.wsj.com/articles/onecoin-took-in-billions-then-its-leader-vanished-11598520601 OneCoin Took In Billions. Then Its Leader Vanished. - WSJ] (Jan 21)

[https://cointelegraph.com/tags/onecoin OneCoin News by Cointelegraph] (Jan 21)

[https://ca.finance.yahoo.com/news/4b-ponzi-scheme-onecoin-cryptoqueen-093250400.html $4B Ponzi Scheme OneCoin and ‘CryptoQueen’ Leader Found in Default in US Lawsuit] (Jan 21)

[https://www.reuters.com/legal/litigation/4-billion-onecoin-fraud-jurisdiction-dooms-claims-against-ex-big-law-partner-2021-09-22/ In $4 billion OneCoin fraud, jurisdiction dooms claims against ex-Big Law partner | Reuters] (Jan 21)

[https://filmdaily.co/wp-content/uploads/2020/09/onecoinceo-lede-1300x861.jpg https://filmdaily.co/wp-content/uploads/2020/09/onecoinceo-lede-1300x861.jpg] (Jan 21)

[https://behindmlm.com/companies/onecoin/the-onecoin-ponzi-wall-of-shame/ The OneCoin Ponzi wall of shame] (Jan 21)

[https://www.bbc.com/news/technology-49826161 https://www.bbc.com/news/technology-49826161] (Jan 24)

← Older revision		Revision as of 19:00, 15 February 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/onecoinschemecollapses.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/onecoinschemecollapses.php}}
			{{Unattributed Citations}}

	[[File:Onecoin.jpg\|thumb\|OneCoin]]Onecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large.		[[File:Onecoin.jpg\|thumb\|OneCoin]]Onecoin ran a large Ponzi scheme, which successfully tricked investors to invest over $4b. There was no blockchain behind the token, and the only way to exchange it to cash was through an exchange which shut down in January 2017. The founder is still at large.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.
			<ref name="bbc-5715" /><ref name="vocal-5675" /><ref name="ducktatormedium-5702" /><ref name="investopedia-5716" /><ref name="wikipedia-5717" /><ref name="bitcoinist-5718" /><ref name="nakedsecurity-5719" /><ref name="wikipedia-5720" /><ref name="bbc-5861" /><ref name="bloomberg-5862" /><ref name="trtworld-5863" /><ref name="fool-5864" /><ref name="coindesk-5865" /><ref name="coindesk-5866" /><ref name="coindesk-5867" /><ref name="wallstreetjournal-5868" /><ref name="cointelegraph-5869" /><ref name="yahoofinance-5870" /><ref name="reuters-5871" /><ref name="filmdaily-5872" /><ref name="behindmlm-5873" /><ref name="bbc-5964" />

	== About OneCoin ==		== About OneCoin ==
Line 39:		Line 41:

	Don't Include:		Don't Include:

	* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.		* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
	* Anything that wasn't reasonably knowable at the time of the event.		* Anything that wasn't reasonably knowable at the time of the event.
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	\|-		\|-
	\|January 15th, 2017 12:00:00 AM		\|January 15th, 2017 12:00:00 AM
	\|~~First~~ Event		\|Main Event
	\|~~This is an expanded~~ description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
	\|-
	\|
	\|
	\|
	\|-		\|-
	\|		\|
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	== Total Amount Lost ==		== Total Amount Lost ==
	The total amount lost ~~is unknown~~.		The total amount lost has been estimated at $4,000,000,000 USD.

	How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?		How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?
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	== Total Amount Recovered ==		== Total Amount Recovered ==
	~~It is unknown how much was~~ recovered.		The total amount recovered has been estimated at $58,000,000 USD.

	What funds were recovered? What funds were reimbursed for those affected users?		What funds were recovered? What funds were reimbursed for those affected users?
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	== Prevention Policies ==		== Prevention Policies ==
			Which policies could have prevented this event from happening?

	== References ==		== References ==
	[https://www.bbc.com/news/stories-50435014 https://www.bbc.com/news/stories-50435014] (Dec 12)		<references><ref name="bbc-5715">[https://www.bbc.com/news/stories-50435014 https://www.bbc.com/news/stories-50435014] (Dec 12, 2022)</ref>

	[https://vocal.media/theChain/cryptocurrencies-that-were-proven-to-be-scams Cryptocurrencies That Were Proven to Be Scams \| The Chain] (Jan 16)		<ref name="vocal-5675">[https://vocal.media/theChain/cryptocurrencies-that-were-proven-to-be-scams Cryptocurrencies That Were Proven to Be Scams \| The Chain] (Jan 16, 2022)</ref>

	[https://medium.com/@ducktator/ico-scams-hall-of-fame-dc915f1189af https://medium.com/@ducktator/ico-scams-hall-of-fame-dc915f1189af] (Jan 17)		<ref name="ducktatormedium-5702">[https://medium.com/@ducktator/ico-scams-hall-of-fame-dc915f1189af https://medium.com/@ducktator/ico-scams-hall-of-fame-dc915f1189af] (Jan 17, 2022)</ref>

	[https://www.investopedia.com/terms/o/onecoin.asp OneCoin] (Jan 17)		<ref name="investopedia-5716">[https://www.investopedia.com/terms/o/onecoin.asp OneCoin] (Jan 17, 2022)</ref>

	[https://en.wikipedia.org/wiki/OneCoin OneCoin - Wikipedia] (Jan 17)		<ref name="wikipedia-5717">[https://en.wikipedia.org/wiki/OneCoin OneCoin - Wikipedia] (Jan 17, 2022)</ref>

	[https://bitcoinist.com/scam-onecoin-prepares-go-public/ Blueprint to a Digital Scam: OneCoin Prepares to 'Go Public'] (Jan 17)		<ref name="bitcoinist-5718">[https://bitcoinist.com/scam-onecoin-prepares-go-public/ Blueprint to a Digital Scam: OneCoin Prepares to 'Go Public'] (Jan 17, 2022)</ref>

	[https://nakedsecurity.sophos.com/2019/11/25/onecoin-crypto-scam-lawyer-found-guilty-of-worldwide-400m-fraud/ OneCoin crypto-scam lawyer found guilty of worldwide $400m fraud – Naked Security] (Jan 17)		<ref name="nakedsecurity-5719">[https://nakedsecurity.sophos.com/2019/11/25/onecoin-crypto-scam-lawyer-found-guilty-of-worldwide-400m-fraud/ OneCoin crypto-scam lawyer found guilty of worldwide $400m fraud – Naked Security] (Jan 17, 2022)</ref>

	[https://en.wikipedia.org/wiki/Ruja_Ignatova Ruja Ignatova - Wikipedia] (Jan 17)		<ref name="wikipedia-5720">[https://en.wikipedia.org/wiki/Ruja_Ignatova Ruja Ignatova - Wikipedia] (Jan 17, 2022)</ref>

	[https://www.bbc.com/news/technology-53721017 https://www.bbc.com/news/technology-53721017] (Jan 21)		<ref name="bbc-5861">[https://www.bbc.com/news/technology-53721017 https://www.bbc.com/news/technology-53721017] (Jan 21, 2022)</ref>

	[https://www.bloomberg.com/news/articles/2021-10-19/florida-man-pleads-guilty-to-role-in-4-billion-onecoin-fraud Bloomberg - Are you a robot?] (Jan 21)		<ref name="bloomberg-5862">[https://www.bloomberg.com/news/articles/2021-10-19/florida-man-pleads-guilty-to-role-in-4-billion-onecoin-fraud Bloomberg - Are you a robot?] (Jan 21, 2022)</ref>

	[https://www.trtworld.com/video/off-the-grid/warning-onecoin-biggest-crypto-scam-run-by-missing-crypto-queen/5dd682dab53db8001717a063 !! WARNING !! ONECOIN “BIGGEST CRYPTO SCAM” RUN BY MISSING CRYPTO QUEEN - TRT World] (Jan 21)		<ref name="trtworld-5863">[https://www.trtworld.com/video/off-the-grid/warning-onecoin-biggest-crypto-scam-run-by-missing-crypto-queen/5dd682dab53db8001717a063 !! WARNING !! ONECOIN “BIGGEST CRYPTO SCAM” RUN BY MISSING CRYPTO QUEEN - TRT World] (Jan 21, 2022)</ref>

	[https://www.fool.com/the-ascent/cryptocurrency/articles/what-we-can-learn-from-onecoin-cryptos-biggest-scam/ What We Can Learn From OneCoin, Crypto's Biggest Scam] (Jan 21)		<ref name="fool-5864">[https://www.fool.com/the-ascent/cryptocurrency/articles/what-we-can-learn-from-onecoin-cryptos-biggest-scam/ What We Can Learn From OneCoin, Crypto's Biggest Scam] (Jan 21, 2022)</ref>

	[https://www.coindesk.com/policy/2021/09/02/seychelles-police-asked-to-probe-transfer-of-230k-bitcoin-linked-to-onecoin-scam/ Seychelles Police Asked to Probe Transfer of 230K Bitcoin Linked to OneCoin Scam] (Jan 21)		<ref name="coindesk-5865">[https://www.coindesk.com/policy/2021/09/02/seychelles-police-asked-to-probe-transfer-of-230k-bitcoin-linked-to-onecoin-scam/ Seychelles Police Asked to Probe Transfer of 230K Bitcoin Linked to OneCoin Scam] (Jan 21, 2022)</ref>

	[https://www.coindesk.com/policy/2021/05/18/4b-ponzi-scheme-onecoin-and-cryptoqueen-leader-found-in-default-in-us-lawsuit/ $4B Ponzi Scheme OneCoin and ‘CryptoQueen’ Leader Found in Default in US Lawsuit - CoinDesk] (Jan 21)		<ref name="coindesk-5866">[https://www.coindesk.com/policy/2021/05/18/4b-ponzi-scheme-onecoin-and-cryptoqueen-leader-found-in-default-in-us-lawsuit/ $4B Ponzi Scheme OneCoin and ‘CryptoQueen’ Leader Found in Default in US Lawsuit - CoinDesk] (Jan 21, 2022)</ref>

	[https://www.coindesk.com/policy/2020/09/25/onecoin-investors-allege-bny-mellon-aided-4b-fraud/ OneCoin Investors Allege BNY Mellon Aided $4B Fraud - CoinDesk] (Jan 21)		<ref name="coindesk-5867">[https://www.coindesk.com/policy/2020/09/25/onecoin-investors-allege-bny-mellon-aided-4b-fraud/ OneCoin Investors Allege BNY Mellon Aided $4B Fraud - CoinDesk] (Jan 21, 2022)</ref>

	[https://www.wsj.com/articles/onecoin-took-in-billions-then-its-leader-vanished-11598520601 OneCoin Took In Billions. Then Its Leader Vanished. - WSJ] (Jan 21)		<ref name="wallstreetjournal-5868">[https://www.wsj.com/articles/onecoin-took-in-billions-then-its-leader-vanished-11598520601 OneCoin Took In Billions. Then Its Leader Vanished. - WSJ] (Jan 21, 2022)</ref>

	[https://cointelegraph.com/tags/onecoin OneCoin News by Cointelegraph] (Jan 21)		<ref name="cointelegraph-5869">[https://cointelegraph.com/tags/onecoin OneCoin News by Cointelegraph] (Jan 21, 2022)</ref>

	[https://ca.finance.yahoo.com/news/4b-ponzi-scheme-onecoin-cryptoqueen-093250400.html $4B Ponzi Scheme OneCoin and ‘CryptoQueen’ Leader Found in Default in US Lawsuit] (Jan 21)		<ref name="yahoofinance-5870">[https://ca.finance.yahoo.com/news/4b-ponzi-scheme-onecoin-cryptoqueen-093250400.html $4B Ponzi Scheme OneCoin and ‘CryptoQueen’ Leader Found in Default in US Lawsuit] (Jan 21, 2022)</ref>

	[https://www.reuters.com/legal/litigation/4-billion-onecoin-fraud-jurisdiction-dooms-claims-against-ex-big-law-partner-2021-09-22/ In $4 billion OneCoin fraud, jurisdiction dooms claims against ex-Big Law partner \| Reuters] (Jan 21)		<ref name="reuters-5871">[https://www.reuters.com/legal/litigation/4-billion-onecoin-fraud-jurisdiction-dooms-claims-against-ex-big-law-partner-2021-09-22/ In $4 billion OneCoin fraud, jurisdiction dooms claims against ex-Big Law partner \| Reuters] (Jan 21, 2022)</ref>

	[https://filmdaily.co/wp-content/uploads/2020/09/onecoinceo-lede-1300x861.jpg https://filmdaily.co/wp-content/uploads/2020/09/onecoinceo-lede-1300x861.jpg] (Jan 21)		<ref name="filmdaily-5872">[https://filmdaily.co/wp-content/uploads/2020/09/onecoinceo-lede-1300x861.jpg https://filmdaily.co/wp-content/uploads/2020/09/onecoinceo-lede-1300x861.jpg] (Jan 21, 2022)</ref>

	[https://behindmlm.com/companies/onecoin/the-onecoin-ponzi-wall-of-shame/ The OneCoin Ponzi wall of shame] (Jan 21)		<ref name="behindmlm-5873">[https://behindmlm.com/companies/onecoin/the-onecoin-ponzi-wall-of-shame/ The OneCoin Ponzi wall of shame] (Jan 21, 2022)</ref>

	[https://www.bbc.com/news/technology-49826161 https://www.bbc.com/news/technology-49826161] (Jan 24)		<ref name="bbc-5964">[https://www.bbc.com/news/technology-49826161 https://www.bbc.com/news/technology-49826161] (Jan 24, 2022)</ref></references>