Popular cryptocurrency Ponzi scheme OneCoin has now been shutdown as the website is no longer active. According to a report from multi level marketing (MLM) focused website, BehingMLM.com, it was noticed that as of Saturday Nov 30, the onecoin.eu website is no longer available.

BehindMLM reached out to EurlD, the registry in charge of the domain, and got a response suggesting that it had been taking offline because “the domain name is under legal investigation.”

OneCoin has been involved in an investigation for a while now, after it was revealed that the company was a scam and had been swindling investors for years. Reportedly, OneCoin successfully defrauded investors up to $4 billion.

Last month, OneCoin lawyer Mark S. Scott was found guilty of aiding money laundering efforts by co-founder Ruja Ignatova in hundreds of millions of dollars. He was reportedly paid $50 million for his efforts in laundering about $400 million. In court, Scott tried to argue that he was unaware about OneCoin being a scam and only tried to fulfill his role as Ignatova’s attorney. However, the jury disagreed.

Back in March, co-founder Konstantin Ignatov who is also Ignatova’s brother, was picked up by law enforcement at the Los Angeles International Airport. He was charged and has since pleaded guilty for his role in the large fraud and money laundering ring, signed a plea deal, and could possible bag up to 90 years in jail. Ruja Ignatova however, is still on the run.

Image Credits: Pixabay

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