Part 5/9:
The Rise and Fall of OneCoin
Another notorious scam that surfaced during the cryptocurrency boom was OneCoin, orchestrated by the charismatic Dr. Ruja Ignatova. Despite claiming to be an innovative cryptocurrency based on blockchain technology, OneCoin was, in reality, little more than a glorified Ponzi scheme. Dr. Ruja incentivized her investors to recruit others, and the returns they saw came not from legitimate profits but rather from the contributions of new investors.