An investor in the OneCoin cryptocurrency scheme is facing death threats after publicly speaking out about her ordeal. Besides death threats, Jen McAdam has also been threatened with sexual violence, according to the BBC. As one of the tens of thousands of victims who lost…
An investor in the OneCoin cryptocurrency scheme is facing death threats after publicly speaking out about her ordeal. Besides death threats, Jen McAdam has also been threatened with sexual violence, according to the BBC.
As one of the tens of thousands of victims who lost money in the OneCoin scam, McAdam was most recently featured in a BBC investigative podcast, The Missing Crypto Queen. The podcast dug deep into the disappearance of Ruja Ignatova, the founder of the pyramid scheme. Since then she has been subjected to a ‘torrent of abuse’.
Per McAdam, the threats are coordinated attacks instigated by OneCoin supporters. Most of the threats that McAdam has received have been posted on Facebook. In one threat posted late last month, the podcast was described by fake news by one OneCoin supporter while McAdam, referred to as ‘that laddy’ was informed she had only a few days to live.
In another posting, McAdam is accused of being a ‘hater’ of OneCoin and subsequently threatened with death.
All the threats seem to emanate from fanatical OneCoin supporters who might be profiting as distributors of the scheme’s educational products. While OneCoin poses as a cryptocurrency, it also sells educational materials for traders. These range in price from 110 to 55,555 euros.
Besides putting in £8,000 (approximately $10,000) into the scheme, McAdam also convinced relatives and friends to invest £220,000 ($277,662).
Per The Missing Crypto Queen podcast, OneCoin has raised more than $5 billion from victims residing in about 175 countries. While other OneCoin leaders have been arrested, Ignatova is still at large. She disappeared in 2017 leaving her brother Konstantin Ignatov in charge. Ignatov was arrested in March while on a visit to the US.
In absentia, the founder of OneCoin crypto scam was also charged with ‘wire fraud, securities fraud and money laundering offenses’. This was revealed in an indictment that was unsealed after the arrest of her brother. Despite the mountain of evidence that it is not a true cryptocurrency and the multitude of victims who lost vast amounts, the OneCoin operation still maintains innocence. It also continues operating in some parts of the world and its website is still up and running.
Besides being featured in the investigative podcast that has earned her death threats, McAdam has also been prolifically providing updates on the scam under her Twitter handle, @JenMcAdamGlobal.
This article was edited by Samburaj Das.
Last modified: January 11, 2020 2:30 PM UTC