OneCoin Ponzi Scheme Generated Fake Reviews on TrustPilot and Quora
The OneCoin cryptocurrency scam made headlines back in 2019 for all the wrong reasons. The Ponzi scheme faced numerous regulatory investigation due to fraudulent marketing methods and several fake accounts issuing positive reviews on TrustPilot and Quora to boost the firm’s stature.
The Digital Forensic Research Lab (DFRLab) of the Atlantic Council think tank, conducted research that suggests the ill-famed OneCoin Ponzi scheme used fake reviews on Trustpilot and Quora to induce investors.
Moreover, a report published on 29th January claims that OneCoin obtained an abnormal number of five-star reviews on TrustPilot. This is after the mainstream media started covering OneCoin negatively back in October 2019. As per the report, OneCoin received 579 reviews on TrustPilot. 90% of the reviews were positive. However, 400 of the 479 reviews were published within a single month. Additionally, DFRLab claims that OneCoin also recieved one-star reviews that were largely outnumbered by the five-star reviews.
On the questions and answer forum, Quora, DFRLab pin-pointed accounts that positively posted on OneCoin. These profiles have indicated signs that they are not authentic. Signs such as fake profile pictures, lack of biographical information, inconsistency during posting and a keen interest in discussions relating to OneCoin.
She Scammed the World and RanBack in June 2016, Ruja Ignatova, the self-proclaimed crypto-queen on a Wembley arena in front of thousands of fans, introduced OneCoin to the world. She explained that she had created a digital currency that will rival bitcoin. Somehow, she lured investors to invest billions into her project. However, she vanished in October 2017 never to be seen again.
In conclusion, investors from all over the world invested in OneCoin, hoping to be part of a new revolution. It is hard to know exactly how much money had been invested into the cryptocurrency scam. Some reports claim it is €4 billion while others say it could be as much as €15bn. To lure investors, crypto-queen cooked and mainly promoted the idea that OneCoin was a far better substitute to Bitcoin. perhaps, a high profile digital currency.
About The Author
Yvette MwendwaI'm a believer in decentralization. An enthusiastic author, web geek & writer with experience writing for tech, digital, and cryptocurrency blogs.
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