Summary
TLDR: OneCoin’s co-founders promoted a fake cryptocurrency through a multi-level marketing scheme, scamming an estimated 3.5 million people before it was exposed.
Key Points
1. OneCoin was promoted by its co-founders, Ruja Ignatova and Karl Greenwood, through a multi-level marketing scheme that paid initial investors to bring in more investors.
2. OneCoin was revealed to be a scam and did not exist on any blockchain, despite being promoted as a legitimate cryptocurrency.
3. An estimated 3.5 million people fell victim to the OneCoin scam before it was exposed.