konstantin ignatov
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US arrests cryptocurrency exec over 'multibillion-dollar' fraud
Cryptocurrency scams are nothing new, but they're rarely as large as this. US law enforcement has arrested Konstantin Ignatov over a fraud charge relating to OneCoin, the cryptocurrency he helped found. Ignatov, his sister Ruja Ignatova (also charged, but hiding) and others allegedly orchestrated a "multibillion-dollar pyramid scheme" where people received commissions for persuading people to buy OneCoin packages that themselves were junk. OneCoin reportedly rigged prices, sold people non-existent coins and didn't even have a true blockchain to manage the currency.
