. OneCoin, which fraudulently branded itself as a cryptocurrency, appears to have received significant support from high-ranking government leaders in both the United Arab Emirates and Bulgaria. Evidence suggests that included leaking details of an international police search to the fugitives who launched the scam.
This article is excerpted from The Node, CoinDesk's daily roundup of the most pivotal stories in blockchain and crypto news. You can subscribe to get the full That makes OneCoin a precursor to the much better-known pyramid scheme BitConnect. BitConnect mimicked much of OneCoin’s approach but has a more prominent place in crypto lore because, frankly,
“The Missing CryptoQueen” uncovered strong evidence that OneCoin was more than just a massive pyramid scheme. Most strikingly, Bartlett and his team found many hints that Ignatova was tied to shadowy figures capable of real violence – quite possibly Eastern European organized crime.