The craziest crypto scams and hacks: Part 2: How investors put $4bn into OneCoin, a coin that didn’t even exist - Crypto in Plain English - Episode 126 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it22 Maalis 2022

The craziest crypto scams and hacks: Part 2: How investors put $4bn into OneCoin, a coin that didn’t even exist - Crypto in Plain English - Episode 126 - by cryptohunt.it

The craziest crypto scams and hacks: Part 2: How investors put $4bn into OneCoin, a coin that didn’t even exist

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english.

This week we will take a look at the fascinating stories behind some of the largest crypto hacks and scams.

Today, let's investigate OneCoin – a coin that never even existed. Nonetheless, investors lost over $4bn dollars in the scheme.

OneCoin was founded by Dr. Ruja Ignatova, who is still running from the authorities, and Sebastian Greenwood, who's now in jail in the United States.

The promise was simple: OneCoin was a new, revolutionary crypto currency that could initially only be minted by insiders, potentially making them very rich. To become an insider though, you'd have to become an affiliate and the more new affiliates you bring in yourself, the more extra tokens you can mint.

The company armed its affiliates with marketing material and even created an internal exchange where tokens could be swapped for cash with other members. In order to use the exchange though, you'd have to buy a higher level of membership.

Smells like fraud to you? Not to many others, as the scheme was going on for years. In the end, and in hindsight obviously, there was no cryptocurrency and the two founders ran away with all the money.

The sad thing is: Where there is money, there are scams. And the promise of getting rich quickly blinds a lot of people's common sense. Keep your eyes open and always ask yourself: Why does someone want my money before I see anything in return for it? If it's too good to be true, it probably is.

And tomorrow: The case of a Secret Service Special Agent, who stole millions from an online drug marketplace.

Jaksot(373)

The Pros and Cons of “Proof of work” and “Proof of Stake” - Crypto in Plain English – Episode 21 - by cryptohunt.it

The Pros and Cons of “Proof of work” and “Proof of Stake” - Crypto in Plain English – Episode 21 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today we talk about the pros and cons of ““Proof of work” and “Proof of Stake” There are a few things...

26 Loka 20211min

What is “Proof Of Stake”? - Crypto in Plain English – Episode 20 - by cryptohunt.it

What is “Proof Of Stake”? - Crypto in Plain English – Episode 20 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Last time, we explained how time-consuming puzzles are one way to solve the problem of cheating on th...

25 Loka 20211min

What is “Proof Of Work”? - Crypto in Plain English – Episode 19 - by cryptohunt.it

What is “Proof Of Work”? - Crypto in Plain English – Episode 19 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today we explain how “Proof of Work” works. First, remember that cryptocurrencies validate transactio...

22 Loka 20211min

How crypto wallets work and which one is best for you - Crypto in Plain English – Episode 18 - by cryptohunt.it

How crypto wallets work and which one is best for you - Crypto in Plain English – Episode 18 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: How crypto wallets work and which one is best for you. Although they are called wallets, crypt...

21 Loka 20211min

The dark (climate) side of crypto - Crypto in Plain English – Episode 17 - by cryptohunt.it

The dark (climate) side of crypto - Crypto in Plain English – Episode 17 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: Crypto’s impact on climate change. Blockchain technologies – to the enthusiasts, they promise ...

21 Loka 20211min

How to create your own Web 3 product - Crypto in Plain English – Episode 16 - by cryptohunt.it

How to create your own Web 3 product - Crypto in Plain English – Episode 16 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: Together, we are creating our own fictional Web 3 product An example teaches more than a thous...

19 Loka 20211min

What is the web 3 movement about? - Crypto in Plain English – Episode 15 - by cryptohunt.it

What is the web 3 movement about? - Crypto in Plain English – Episode 15 - by cryptohunt.it

Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: We explain why everyone is excited about Web 3 To understand Web 3, let’s first talk about wha...

18 Loka 20211min

Why everyone has their own token - Crypto in Plain English – Episode 14 - by cryptohunt.it

Why everyone has their own token - Crypto in Plain English – Episode 14 - by cryptohunt.it

014 Why everyone and their grandma have their own token Welcome to the cryptohunt jam where we spend one minute a day to explain crypto. In plain english. Today: We explain why there are thousands of ...

15 Loka 20211min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
psykopodiaa-podcast
rss-rahapodi
ostan-asuntoja-podcast
rss-rahamania
rahapuhetta
rss-laakispodi
rss-sisalto-kuntoon
herrasmieshakkerit
rss-lahtijat
rss-bisnesta-bebeja
rss-seuraava-potilas
inderespodi
rss-sami-miettinen-neuvottelija
leadcast
timanttia-hiomassa
rss-kohti-unelmia
rss-juurisyy-johtamisesta-kilpailuetua
rss-porssipodi