And it’s important to note that OneCoin simply pioneered the model that every crypto uses today.

23% of Black Americans own crypto according to the Economist: https://www.economist.com/graphic-detail/2022/05/20/why-the-...

These products have been heavily marketed to minorities, and the only real difference between today’s crypto and OneCoin is that there’s a smokescreen of technology and VC money.

I wasn't aware of this, but it makes me dislike 'crypto'-currency even more, which I did not think was possible. Thank you for sharing this.

They didn't recruit in the slums of Manila or the Nepali countryside. I'm sure there were some poor people among the victims too but the majority wasn't. Just look at the amounts of money they gave them. What "marginalized" person from a developing country has thousands of dollars lying around to give to random people promising them high returns? Poor people get debt trapped with so-called microloans, happens to millions in Africa and South Asia.

The minority in this case were folks with more wealth than brains - in Europe, the Middle East and Asia. What poor person has the money to travel all the way to places like Dubai to attend a OneCoin conference?

No they absolutely did recruit in the developing world and in the type of “slum” you refer to. They took huge amounts of money in Africa.

Your comment shows you haven’t looked into one coin deeply. There were huge one coin conferences in Africa. For example Uganda was plastered with onecoin. https://youtu.be/NMt4KUSz_Fw

A youtube video by some random guy with 310 views is not a credible source. Surely you've seen some kind of evidence that isn't social media hearsay to make you so convinced. Pictures, videos? Can you tell us the name of the slum you're referring to?

>They took huge amounts of money in Africa.

"Huge" amounts. What sort of amounts are we talking about? Do you have a more concrete number and a source? Must be someone involved in the scam who told you because the perpetrators have not even been caught yet, let alone tried.

German authorities tried charging a single couple that collected over 320 million Euros for Ignatova on their own! Just to give an idea of what sort of sums we're talking about. The average each of the European victims invested is in the thousands, possibly over 10k Euros.

The media commonly cites 4 billion dollars that Ignatova and her accomplices collected in total. How much do you think they got out of that supposed Ugandan slum?

Thus, probably mostly stolen money. Stealing from other crooks is made to seem hardly like stealing at all.