Onecoin Victims Ask EU Parliament For Crypto Fraud Fund

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The Onecoin ponzi scheme continues to cause ripples in the cryptosphere. As some 3.5 billion Euro have been lost by EU-citizens, the victims have now grouped together and are asking the EU parliament to setup a future fund to repay those affected by crypto fraud.

A few weeks ago we already explained the OneCoin ponzi scheme at length, one of the biggest crypto fraud schemes that ever existed which caused a 7.2 billion dollars hole worldwide. The main protagonist, the Bulgarian Dr. Ruja, remains missing. Her European victims launched a petition earlier this week.

“With Onecoin, it is a disgrace that they continue to operate as we have pointed out directly to the EU Commission” kryptohuijaus #Onecoin toimii yhä .eu-domainin osoitteella. https://t.co/gx5PiYKLnl

— petterij ? (@petterij) October 1, 2020

OneCoin victims blame, to some extent, the European parliamentarians, especially the British ones (pre-Brexit). In fact, the UK is accused of offering financial structures that encourage cryptocurrency scams. Scammers, for example, have become accustomed to registering their sites under the “.io” domain, under the supervision of the British Foreign Office.

#OneCoin Victims Join Petition Seeking Establishment of European #CryptoFraud Compensation Fund - #Bitmixers #Cointeck #Cryptocurrency #Etorocom #EUCommission #EUParliament #GDPR #LawEnforcement #MMMGlobal #News #OnecoinFraud - https://t.co/iIQuusiyTm pic.twitter.com/C63GAitaNI

— PaulCrypto.com (@PaulESamson) October 1, 2020

The victims’ lawyer, Jonathan Levy, claims the UK government is aware of these practices. Yet nothing is being done to alleviate the problem.

Compensation fund

Onecoin victims have now joined a consortium that wants the European Parliament to setup a compensation fund. They have started a petition which has already gathered thousands of signatures.

The group’s goal is to create a fund to compensate for current scams and prevent future ones. The users themselves would contribute to this fund. They should pay 0.0001 cent for every euro spent in cryptocurrencies.

We’re quite sure this isn’t the last of the story.