Bulgarian company associated with OneCoin seized by authorities

An international operation on neutralizing a Ponzi scheme fraud called OneCoin
23 January 2018   597

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».

Barclays to Freeze Crypto Trading Project

This is reported by two anonymous sources to Financial News London
15 October 2018   197

One of the largest UK bank Barclays has suspended work on its own crypto-trading project, Financial News reports citing two sources familiar with the situation.

Earlier this year, the bank gathered a high profile team to explore opportunities for cryptocurrency trading as part of its own business. However, according to one source, the initiative was “frozen”.

The former head of Barclays for energy trading, Chris Tyrer, who headed the “digital assets project,” left the bank in September after management decided to freeze the initiative.

Together with Tyrer, the macro-strategy in the field of foreign exchange and emerging markets was Marvin Barth, Senior Technical Specialist Lee Brain, and Consultant Matthew Jobb Duval.

Their task was to determine whether cryptocurrencies are an asset class with far-reaching prospects, whether Barclays customers are interested in them and what type of IT infrastructure will be needed to work with them, the source said.