Confusingly, Money: Explained flashes a screenshot of the civil class action complaint while the show’s narrator introduces the criminal cases. Next Money: Explained transitions to the US criminal lawsuits. Thanks to another tactic: Insist your scam is definitely not a scam.įootage of Ruja Ignatova plays, again from the 2016 UK event, declaring on stage to regulators that OneCoin is ‘the most transparent, most powerful and most legal cryptocurrency out there.’ Regulatory warnings against OneCoin are also brought up – as well as their dismissal by the OneCoin cult-mind.īut to many investors, those warnings didn’t matter. Next Money: Explained goes over “the warning signs” leading up to OneCoin’s collapse.Ī 2015 CoinTelegraph article is cited as one of the earliest examples of a OneCoin warning sign.Ī whole year earlier in 2014, BehindMLM reviewed OneCoin and correctly identified it as a Ponzi scheme. Money: Explained’s OneCoin segment plays through the lead up to the Ponzi scheme’s 2017 collapse.īut when the day came when people would be able to turn OneCoin into cash, and become rich beyond their wildest dreams, Ruja was nowhere to be found. Alberts stole millions through OneCoin and the company only ever had once source of revenue, new investment.Īfter OneCoin he then went on to scam people out of even more millions through DagCoin, a OneCoin clone started up by former OneCoin scammers. Top OneCoin net-winner Igor Alberts and his wife Andrea Cimbala get a mention, as some of the people Ignatova “tricked” into promoting OneCoin.Ĭan’t say I agree with the phrasing. Money: Explained starts with an introduction of Ruja Ignatova (right) and her infamous “bitcoin killer” speech.įootage from the Wembley Stadium 2016 event plays, emphasizing Ignatova’s use of tactics used by scammers covered earlier in the episode. The infamous Carlos Mattos BitConnect event footage is shown on the screen but, other than using it to segue into crypto Ponzi schemes, Money: Explained doesn’t go into details. Money: Explained cites OneCoin and BitConnect as part of a segment exploring technology making proliferation of scams easier. Episode one of Netflix’s new Money: Explained mini-series features OneCoin and BitConnect.īoth are MLM Ponzi schemes that bilked investors out of billions of dollars.
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