Onecoin

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.

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.

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.