Bulgarian company associated with OneCoin seized by authorities

An international operation on neutralizing a Ponzi scheme fraud called OneCoin
23 January 2018   459

More and more facts elaborating on whether OneCoin is scam or not are revealed. Last week Friday, January 19, Specialized Prosecutor’s Office of Bulgaria confirmed its involvement in the investigation of OneCoin.

With the combined efforts of Germany, Europol and Eurojust the offices of a Bulgarian company associated with OneCoin was searched, material evidence along with the servers were seized and 50 witnesses were questioned. The operation was, in fact, just a step in a large-scale investigation against the fraud structure for money laundering by issuing and distributing cryptocurrency OneCoin. Yet, no evidence of the coordinated operation was shown, the Prosecutor’s Office noted that the same inspection is underway in the USA, UK, Ireland, Italy, Ukraine and others.

To remind to the readers, a major anti-OneCoin operation was organized in India April through June last year: 22 people were arrested, 6 are searched internationally, approximately $4 mln. Seized in bank accounts (merely a third of the amassed $12 mln. from investing victims); in Germany the scrutiny in May 2017 revealed a large money laundering company and seized around €29 mln. In Finland, a report on OneCoin activity in the country was filed and as a result, 2 people are suspected to have stolen from more than 20,000 Finns.

As for the reactions in social networks, users of Reddit were divided: some were pleased to hear about this, but others, like user vander1279 was unaware of the existence of such a thing, saying «Didn't even know this coin existed, good riddance scam coin!». Another user fapthepolice was skeptical about OneCoin from the very beginning stating: «I mean this isn't even exactly a cryptocurrency-related scam. It's a classical ponzi which calls itself a cryptocurrency. And it's been going on for way too long».

PascalCoin to activate V3 Hard fork

PascalCoin V3 Hard fork will be activated on block 210,000 on May 31 and feature anonymity via transaction mixing and inflation reduction
26 May 2018   39

PascalCoin is preparing for V3 Hard fork scheduled for May 31. It will introduce key improvements as such:

  • anonymity transaction mixing;
  • 50% inflation reduction;
  • Lazarus/FPC gets 10% of funding

To get more into the details:

PascalCoin transactions occur between publicly visible accounts and the crucial aspect needs to be implemented - fungibility. The improvement will allow users to perform 'client-server mixing', 'network-protocol mixing', 'chaining multi-transactions', 'decentralized exchanging' and 'monetized-API mixing'.

As for Lazarus/FPC (a base tooling from which PascalCoin is founded on), a total of 10% of the Developer Rewards is recommended to be allocated for the FOSS project funding. In a long run, a large developer mind-share is expected to reduce costs significantly.

To learn more about the details of the fork, you can visit Improvement Proposal page here. And regarding the market characteristics of PascalCoin, at the moment of publication they are as follows:

Average price 0.765895 USD
Market cap 15,978,408 USD
Volume (24H) 89,861 USD