MADRID, 17 JUL. (Bolsamania.com/BMS) .- more than two years ago, specializing in the market for criptomonedas, ‘Cointelegraph’ web prestigious sent a notice to mariners OneCoin, the fictional virtual currency based on bitcoin has come to raise more than $ 11.5 million in India alone. Uncovered later as a pyramid scheme, this investment fund in the online currency par excellence is not the only one who has used the ‘Ponzi scheme’ in the ecosystem of the criptodivisas. Growth in the number of ‘altcoins’ -alternatives to bitcoin- that has occurred in recent months makes it very difficult to ‘separate the wheat from the chaff’, according to experts consulted, and paves the way for fraud schemes proliferate and nonexistent currencies.

Recently, authorities in Mumbai have been filed against the founder of OneCoin, Ruja Ignatova, as part of an investigation against the promoters of this currency that is holding the city police. They accuse her of cheating and swindling and his name has been added to a list of 30 suspects who issued the Economic Crimes Unit of the Indian police. The OneCoin network operates globally and, in fact, its headquarters are in Bulgaria, but unlike other central banks that have only been limited to issuing warnings about this scam, India has taken action and since last month April has arrested more than 20 people related to the pyramidal network and has seized two million dollars.

The company is listed observation Bulgarian authorities, Finland, Sweden, Norway, Latvia and Belgium, who have warned of the potential risks involved in this type of business. In addition, according to information from ‘Criptonoticias’, in Hungary there is a group working exclusively for the case and countries such as Italy and the UK have banned OneCoin or issued alerts at institutional level. The most recent action has taken Austria, where the Authority Financial Market Supervision has issued a notice against OneCoin investment scheme, which makes clear that this entity is not authorized to operate in the country.

The operation of this pyramid scheme, explain various specialized media industry, it is based on the sale of educational packages on monetary exchange which cost between 100 and 25,000 euros. With each seminar, users are provided with tokens that can be assigned to “undermine” onecoins on its servers in Bulgaria and Hong Kong. But the only way to change onecoins for another currency is in an exclusive domestic market for those who have purchased more than one package with a daily limit of change. The more of these educational packages are purchased, the greater the number of coins that can be changed daily. Moreover, the system contemplates that for each new user that is captured for business, 10% of the investment that individual will be obtained.

This model the company would have reported a profit of 3,800 million in 2015. The data have been published by the company are about two years ago and in December 2015 the pyramid scheme entered 375 million dollars near 500,000 Asian investors, in a similar movement occurred in 2013 with bitcoin. More recently, in March 2016, the company said the OneCoin market capitalization amounted to 3,340 million.

On its website define their alleged crypto currency as an asset that is created through a mining process. They explain that there are a finite number of onecoins, namely 120,000 million, and that they can be mined. It also points out that the currency can only negotiate in xcoinc.com, where it is allowed to “buy and change the criptodivisa” and nuance that OneCoin “not operated on any other exchange house because only independent partners of onelife Red can undermine the supposed virtual currency and