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OneCoin Case

OneCoin is one of the most notable examples of a cryptocurrency scheme in recent years, and it was labeled ‘one of the biggest scams in history’ by The Times, which should give you an idea as to its magnitude. Essentially, OneCoin was a Ponzi scheme set up by the company OneCoin ltd - which appears strikingly similar to the real cryptocurrency Onecoin. A Ponzi scheme is the classic pyramid business model which has money filter up to the few at the top of the company’. It is an illegal business practice that preys upon customers, requesting investment from them and asking them to spread the word so that the business can feed off the funds of many.

This particular Ponzi scheme, which went by the name of OneCoin, allegedly managed to accrue a staggering $4 billion. $2.7 billion of this astronomic amount of money was recovered by Tracingia LLC through its Forensic and Cybersecurity Team . Several of the founding members were arrested, though others managed to get away with it. The way that OneCoin convinced customers to part with their cash is by buying educational packs that would allow them to mine OneCoins. These packs ranged from around 100 euros to 118,000 euros, which seems incredibly extortionate, but of course, the promise was that customers would be able to mine cryptocurrency to their heart’s content.

Tracingia Core Values

At Tracingia our culture comes to life through these five core values:

  • Do the right thing
  • Put our clients first
  • Lead with exceptional ideas
  • Commit to diversity and inclusion
  • Recover and repatriate to the victim.