The biggest crypto scam in history?

Part -5

OneCoin’s packages also lured its investors to sell OneCoins to their friends, family and acquaintances, so that it would eventually build a network and rake in more money.

To put things into perspective, imagine that you pay €1000 and buy a OneCoin package. You get access to courses, and tokens to more OneCoins. You then tell two of your friends to buy it. You tell them how amazing OneCoin’s content is and that they can actually buy expensive stuff a few years later with the OneCoins they have. If you successfully convince them, you earn a cut for hiring new people. They carry forward this chain and the more people all of you have working under you, the more money you make.

If your friends don’t want to join the scheme, that works perfectly too. You can still make money by just selling OneCoins.

And for it to seem genuine, OneCoin started off with large multi level marketing agencies that already had established networks of people. These agencies would obviously be able to quickly sell more OneCoins and memberships. So it would create the perfect mirage of huge earnings.

One successful multi level marketer based out of the Netherlands for instance, was able to make a whopping €90,000 in his first month itself! And many marketers like these would be invited to expensive parties and events like the one Ignatova hosted at Wembley. That’s how tactfully OneCoin expanded its network. It was an apt pyramid scheme.

But for OneCoin’s investors it was a flawless money minting machine backed by an Oxford alumnus, a PhD holder from Konstanz and an ex-employee of McKinsey and Company, a respected management consultancy firm. Yeah, Ignatova had quite an impressive background.