Cryptocurrencies are becoming popular for the right reasons off late. Even five years back, it was not the same. There was hardly a much-trusted source of information on it. Many entrepreneurial ventures had tried to come up with a digital alternative to the currency. The problem always laid in the fact that there would still be a third-party involvement in them. People never trusted this reality.
Cryptocurrency was anyway having a tough time to hold the ground. But upon a fresh market and very few players when the returns of the investments were observed, a new chapter in finance began. The cryptocurrency rose the ladder, with Bitcoin being the most popular one. Many fresh investors expressed their desire to invest in bitcoins. More and more investors came on board, especially upon learning about blockchain technology. Unlike other digital payments, with cryptocurrency, it is backed by blockchain. The security and anonymity made the risk bearing that comes while investing in bitcoins worth it.
At a reasonably raw juncture, Dr. Ruja Ignatova, in her shining ballroom gown, addressed a mass gathering and said that she would change the future of cryptocurrency with her version of Bitcoin’s competition with OneCoin in 2016. The educated Oxford graduate and entrepreneur showed people a dream to multiply their money to almost ten folds. Overnight she earned the gifted title of “Cryptoqueen.” What followed was a massive pouring of funds from England, Yemen, Pakistan, Canada, and so on. Upon some major confrontation by Bitcoin enthusiasts and a fishy job offer, it was discovered that the entire furrow was a farce. People were excited to see the figures shooting skyrockets on OneCoin’s website, but it was nothing but a scam.
Probably what can be called the greatest scam in the cryptocurrency market, she was found to disappear shortly after her big unveiling. To date, Dr. Ignatova’s traces have not been found. She has gone on to become of the most wanted by FBI and federal organizations across the globe. BBC based an entire podcast named “The Missing Cryptoqueen,” detailing out the layout and brain behind the finance world’s one of the biggest traps. The eight episodes podcast series is curated by the technology journalist Jamie Bartlett.
The series entails the ghastly wicked mind and practice of the pyramid scheme and fake coins as a business to dupe millions across the world. You can catch the podcast on the BBC’s website or Apple Store.