In the recent news, Bulgaria came up as the country holding the second-largest amount of Bitcoins in the world. The surprising statistics relate.
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Dr Ignatova - or Dr Ruja to her fans - walks on to "This Girl is on Fire", tells an excited crowd that OneCoin is on course to overtake Bitcoin, and derides "all those Mickey Mouse coins that have copied our concept. Plenty of people were convinced, including one of the stars of the podcast, Jen McAdam from Glasgow.
The investigation by the team behind the podcast has uncovered just how successful OneCoin had been in spreading its message around the world.
The Bulgarian Government Is Sitting on $3 Billion in Bitcoin
Internal documents reveal that people in countries invested, with much of the money coming in a six-month period in when Dr Ruja was on a global tour - including that Wembley appearance. Even in poorer countries like Vietnam, Bangladesh and Uganda, people parted with substantial sums. Earlier this year in the United States, Dr Ignatova was charged in absentia with money laundering, with the Department of Justice calling OneCoin an old-fashioned pyramid scheme. And indeed this and other crypto-scandals seem disturbingly familiar to anyone who has been in financial journalism for a while - the same old tricks delivered with a hi-tech veneer.
Back in , Bitcoin was still a revolutionary disrupter of the tired old financial system, blockchain was going to be more important than the internet and something called an Initial Coin Offering ICO was going to show Wall Street that an Initial Public Offering was so "last century". Now, after the wild gyrations in the value of cryptocurrencies and the realisation that just about every ICO fails to deliver on its overblown promises - even if it's not an outright scam - you might think that "crypto" is the last word anyone would want to attach to a new project.
That came to mind this week when I attended a briefing about Facebook's plan to launch a new cryptocurrency called Libra. The briefing was with the Libra Association, the collective of 28 partners including Visa, PayPal, Uber and Spotify, who are joining with Facebook to launch the currency.
The plan has already run into a lot of opposition from regulators and I put it to the Association's Chief Operating Officer Bertrand Perez that much of this was due to that C word. Surely such a powerful coalition could have invented a new payments system - a more ambitious version of Kenya's Mpesa perhaps - that was neither a crypto-currency nor dependent on a blockchain?
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No, he insisted, blockchain was the cornerstone of the Libra project, immune to fraud, fast and efficient: "This technology is the future for sending and receiving money. Funnily enough, that was similar to Dr Ruja Ignatova's message to the Wembley faithful in - OneCoin was going to be "borderless, safe and easy to use. Now of course Libra is a very different kettle of fish, backed by many very respectable institutions which have pledged that it will not launch until regulators are happy.
From Wikipedia, the free encyclopedia. Ruja Ignatova. Sofia , Bulgaria.
Blockchain Startups in Bulgaria | Tracxn
November 24, The Times. November 24, — via www. Astrid Stadler Fachbereich Rechtswissenschaft". January 20, November 14, — via www. Categories : Bulgarian fraudsters 21st-century Bulgarian criminals births Living people People associated with cryptocurrency Bulgarian emigrants to Germany People from Schramberg.
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