Crypto-Currency has been on the news all over the world for over a decade, and it is also as exciting as it should never been have at the fi...
Crypto-Currency has been on the news all over the world for over a decade, and it is also as exciting as it should never been have at the first place. Here in this case, we shall learn about a world famous case that revolved around laundering money on the premise of Crypto & Blockchain technology.
Bitcoin was one of the first crypto-currency that made the world take notice of an alternative currency aimed at being freed from any country's sovereignty and hence, decentralized and totally fair for its holder. Although the original crypto-currency concept was based on blockchain technology, that was originally developed to secure transactions over the internet, it found its use to even hold a valuable digital currency that could be virtually impossible to steal.
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| FBI Most Wanted Fugitive, Ruja Ignatova |
The scam of the self-titled 'Crypto-Queen' was nothing short of a scam from its initial idea itself when the person herself had little to any technical knowledge of the inner workings of the blockchain technology. Her quest to becoming rich and yearn to lead a lavish life will leave no stone unturned to achieve it, be it at the cost of anyone's life around them (including their beloved ones).
Ruja Ignatova, a Bulgarian descent German national is still being reported as missing and the wanted fugitive scamster who happened to siphon off billions of dollars worth from her multi-level marketing company's investors. OneCoin was the name of the crypto currency, who began around 2013-14 and starting taking money in the name of education about crypto, rather for an exchange of crypto-currency token.
Crypto-currency is usually stored in virtual wallets containing tokens that represent the worth in currencies for exchange or transactions. It has a identifier on between which two wallets it was transacted between, and cannot be detached from either identifiers making it traceable, hence secure.
The value of any crypto-currencies are designed to never go out of value since it comes in a limited supply only, and to the fact that it cannot be printed at will of any government agency. So every time when there is a transaction that involves crypto-currency, the value only goes up or down depending on the worth of service or material traded.
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| Previous plastic surgeries, and the newer one to escape most probably. |
Coming to the fake crypto queen, none of these were even done but only a hyped celebrations were staged to attract people who wanted to get rich quickly. It was this greed that she and her accomplices en-cashed upon to amass the wealth from all around the world. What is shameful isn't the fact she took the greedy and well off people's money, but also from the third world country who were barely making their ends meet to merely survive from meal to meal.
Ruja used this money to buy wealthy real-estate all around Europe, including a lavish sea-front mansion to live her glamorous life she wanted. Her visits to the Americas didn't go unnoticed as US government took notice of the ponzi-schemed-party popper very early on. European union too joined them, and investigations were put in place via interpol and other agencies.
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| At her own birthday bash |
It is during this time (early-mid 2017), that she scrambled off as much as she could and fled from Bulgarian mansion, and never to be seen again ever so far. Her accomplices, including her younger brother are either facing their term in jail or in the process of judicial enquiry.
She was easily trusted because of her CV which had big multinational companies in her employment record. Adding to it was the title Doctor (Dr) before name, which is usually how these fake celebrities who buy PhD's from unknown or fake universities to enhance their credibility too.
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| Ruja Ignatova with her younger brother in a party |
Her initial pitch to the public was so effective to get her going. She said, "Did you missed on the Bitcoin wave?" This is how they get you onboard, playing with your FOMO (fear of missing out), and then it is all one way spiraling down on their rabbit hole.
All this reminds us, as the famous saying that goes, "If it is too good to be true, it really is!" So, watch out for all those con-men and con-women, who are selling the idea of becoming rich, in fact they are poised to be, not you.
Do does that mean all crypto-currencies are fake and a scam? No, but a good education on anything is a must before getting all into it. Remember one thing after all, it is your hard earned money. Play wise!
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