Search results for onecoin

The UK Financial Conduct Authority (FCA) recently issued well-filtered recommendations to the public especially the investors not to participate in cryptocurrency investments related to Covid19 through an official website.

A British digital payment platform halted operations after the Financial Conduct Authority (FCA) suspended its license, which cost its clients over $128 million.

American attorney Mark Scott, who used to work for one of the biggest digital currency Ponzi schemes, OneCoin, is now trying to get an exoneration just three months after his conviction by a U.S court of illicit operations, money laundering and scams.

Another Ponzi scheme, dubbed Bitcoin Wallet, left investors with nothing, according to the Ladysmith Gazette. The investment scheme was one of the most lucrative projects in South Africa that saw many potential people, investors and companies willingly put their money in it, with the hope of acquiring abnormal returns in the shortest time possible.

The financiers of the Special Antitrust Unit in Verona, Italy, have managed to seize around 93 social pages and 7 websites where cryptocurrencies including OneCoin were offered to people while promising them quick massive returns and earnings.

The long-awaited arrest of Konstantin Ignatov, one of the founders of OneCoin, by the American authorities is being discussed in Ticino, Italian-speaking canton of Switzerland. In the past few months, some investors in Ticino bought this Bulgarian crypto founded in 2014.

The State Bank of Pakistan on Friday advised the public that virtual currencies such as PayDiamond, DasCoin, Bitcoin, Litecoin contribute to high levels of illegal activities such as supporting terrorist groups,  theft, scams and fraud due to lack of regulations. Thus completely banning all the banking and other financial service providers from supporting and using virtual currency transactions and this came immediately after India's Central Bank slashing cryptocurrency prices on local exchanges throughout the whole country.

Thousands of cryptocurrencies are floating on the market at the moment, and tens more go live every day. The vast majority of them will be worthless in a few years, when the “Crypto Nova” that is exploding now is more mature and the process of “Natural Selection” has taken its course, killing all those cryptocurrencies that didn’t serve any purpose or were plain scams. Many are in a dying process already now, and many of those that aren’t, are just living off trading traffic or good marketing.

More than 3,500 cryptocurrencies were created as of September 2016, according to Cryptocoinchart.info, an online price index platform that tracks blockchain digital assets. What is the overall effect of this “flooding” of the market?