The offices of the OneCoin distribution company were raided, and their servers in Sofia were under arrest on January 17 and 18. This was the next step in a series of raids and court cases against this altcoin in several countries. Although the OneCoin servers were shut down, the service continues to work.
The founder of OneCoin, Ruja Ignatova, was born in Bulgaria, but has German citizenship. The raid by Bulgarian security forces took place on the orders of the German prosecutor's office. OneCoin bills itself as “a centralized model that monitors the security of its users and enforces anti-money laundering regulations.” This means that OneCoin does not meet the definition of a cryptocurrency because it is not decentralized and does not work with publicly available software.
All documentation and information of the OneCoin distributor One Network Services has been removed from the servers. The same procedure occurred in fourteen other representative companies. During the raid, 50 witnesses were interviewed, but no one was arrested.
According to the police report: “hundreds of branches are now under investigation in England, Ireland, Italy, the USA, Canada, Ukraine, Lithuania, Latvia, Estonia and many other countries.” This is not the first time that companies associated with the OneCoin token have faced allegations of illegal activities. In May 2017, a similar incident occurred in Kazakhstan, and in July 2017 in India, human rights activists arrested 23 employees of the company on suspicion of fraud.
In August 2017, the Italian Antimonopoly Committee and the Office of Consumer Protection called OneCoin a financial pyramid and fined them 2.5 million euros.
According to https://cointelegraph.com
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