Incoming compensation for onecoin victim

[YellowSwap]

A compensation process for the victim of onecoin has been opened by the US justice department,

I did some research and found that Onecoin was very popular years ago when ICO was still very eye catching, sadly almost everyone involved got scammed, i saw the news this morning that the government is planning to return that money back, do you believe this?



If this money gets back to people what do you think will happen?  Is this good for the crypto market or it makes no difference?

[uneng]

If a legal lawsuit is going to happen, then it's possible that investors get their money back partially. They aren't going to recover 100% of the funds, anyway. What happens in these cases is that seized money by authorities is used to compensate investors for their losses.

In Celsius scam, for an example, something similar happened and we got about 33% of our original funds back. Even though 1/3 was recovered, it still means a severe loss, therefore, you have to be careful with your money when investing on the internet.

Always make sure there are guarantees involved, and if there is none, avoid it.

[Joy_learns_crypto]

A compensation process for the victim of onecoin has been opened by the US justice department,

I did some research and found that Onecoin was very popular years ago when ICO was still very eye catching, sadly almost everyone involved got scammed, i saw the news this morning that the government is planning to return that money back, do you believe this?



If this money gets back to people what do you think will happen?  Is this good for the crypto market or it makes no difference?

How will the government return the money of all investors back, the process could create opportunities to scammers, by your research onecoin happened years ago, fake investors can come to claim compensation that isn’t theirs.
If the money is shared to the victim without any dispute afterwards it will be good news but I don’t think the news about this is true and I don’t think it will happen.

[IjawMan]

i saw the news this morning that the government is planning to return that money back, do you believe this?

I'm not sure what to believe if the compensation will be definitive to succeed with all the proposals to do so.

But what my counsel on this would be, is that, those involved should make sure to fill all necessary required files they are asked to fill. Do not sleep on it if you lost a none negligible sum of money.

Am using the FTX story as an example on this. Lot of victims did not had trust in the filing procedures for refunding of their lost money, and that made them not to comply, but presently you can see similar from this post I created, FTX announces 4th phase distribution.
When it would be paid, people who did not comply will not be eligible and regrets will follow

[AmoreJaz]

i saw the news this morning that the government is planning to return that money back, do you believe this?

I'm not sure what to believe if the compensation will be definitive to succeed with all the proposals to do so.

But what my counsel on this would be, is that, those involved should make sure to fill all necessary required files they are asked to fill. Do not sleep on it if you lost a none negligible sum of money.

Am using the FTX story as an example on this. Lot of victims did not had trust in the filing procedures for refunding of their lost money, and that made them not to comply, but presently you can see similar from this post I created, FTX announces 4th phase distribution.
When it would be paid, people who did not comply will not be eligible and regrets will follow

The thing is, most of these victims already forgot the credentials that they used when they signed up for ICO, such as their emails or passwords, or whatever info they need. Most already forgot because for sure, some already buried this experience a long time ago because they thought the compensation won't come anymore.

[davis196]

Onecoin was never an actual cryptocurrency. Onecoin was a ponzi scheme disguised as a cryptocurrency. AFAIK, it had no protocol, no blockchain, no mining and hash rates, nothing. It was a typical multi-level-marketing ponzi pyramid garbage, where the people at the top of the pyramid had to gather more paid referrals. The creator of the Onecoin ponzi scheme Ruja Ignatova is still missing and nobody can find her. Maybe she's dead. Perhaps the authorities have found some bank accounts, that are linked to this scam and the funds in those bank accounts would be used to partially compensate some of the victims. This is good news for the victims, but please don't you ever link Onecoin with the crypto world.

[m2017]

A compensation process for the victim of onecoin has been opened by the US justice department,

By what means? Does the government have the money seized from Onecoin to give to the victims?

I did some research and found that Onecoin was very popular years ago when ICO was still very eye catching, sadly almost everyone involved got scammed, i saw the news this morning that the government is planning to return that money back, do you believe this?

If the government has publicly announced that it will begin the compensation process, then they have no choice but to do so.

If this money gets back to people what do you think will happen?  Is this good for the crypto market or it makes no difference?

How will compensation be provided? In what currency? The market impact will depend on this. Will it be in dollars, USDT, bitcoin, or shitcoins (onecoin )?

If the money is issued in bitcoin, some people will start selling these assets, which will trigger a corresponding price movement in the market.

[rbynxx]

A compensation process for the victim of onecoin has been opened by the US justice department,

I did some research and found that Onecoin was very popular years ago when ICO was still very eye catching, sadly almost everyone involved got scammed, i saw the news this morning that the government is planning to return that money back, do you believe this?



If this money gets back to people what do you think will happen?  Is this good for the crypto market or it makes no difference?

It's not exactly $4B I guess, it would only be a small portion same to what happened on the FTX scandal. I think it's good for the crypto community considering that people will reinvest it on crypto itself and it will make a difference, it may not be great but at least there is. Was the founder been imprisoned already or she was still hiding? I think there was that theory that she might have been dead already but I doubt it.

Do you think they'll be able to compensate that $4B full? I doubt it. I doubt if they ever got some funds to compensate the victims too.

[Taskford]

A compensation process for the victim of onecoin has been opened by the US justice department,

I did some research and found that Onecoin was very popular years ago when ICO was still very eye catching, sadly almost everyone involved got scammed, i saw the news this morning that the government is planning to return that money back, do you believe this?



If this money gets back to people what do you think will happen?  Is this good for the crypto market or it makes no difference?

It's not exactly $4B I guess, it would only be a small portion same to what happened on the FTX scandal. I think it's good for the crypto community considering that people will reinvest it on crypto itself and it will make a difference, it may not be great but at least there is. Was the founder been imprisoned already or she was still hiding? I think there was that theory that she might have been dead already but I doubt it.

Do you think they'll be able to compensate that $4B full? I doubt it. I doubt if they ever got some funds to compensate the victims too.

Still good than getting nothing, but for the question if they can able to compensate such amount? Well maybe government already know that they have funds to do that and this is the reason why they demand once coin devs to compensate their victims

But also I really hope that people learn a valuable lesson from their bad experiences. And they will never think about coming back for investing on those ponzi schemes.

They experience to get scam by One coin and hopefully we can see that many people will have critical thinking and know how to avoid scams.

[7juju]

How will the government return the money of all investors back, the process could create opportunities to scammers, by your research onecoin happened years ago, fake investors can come to claim compensation that isn’t theirs.

There’s what it called contract address, the contract address has the record of every address that made purchases of the coin during the ICO phase. The time, the amount and the address that made the purchases are being stored in the blockchain. In blockchain nothing is hidden everything is public and you will know the wallets that every cent came from. If the government want to make refund to the victims, all they have to do is to send back the money to those wallets that their records of purchase are recorded in the ICO contract address. There will be no room for scammers claiming anything from the money.

[HyperCodexV]

If the compensation is real, then it’s actually a good move, but people shouldn’t expect to get back everything they lost. OneCoin was a massive scam and in cases like this, authorities usually recover only part of the money. So victims might get some refund, not full recovery. If people do get paid, it will help restore a bit of trust and show that scammers can still be tracked and punished. That’s a positive sign for the crypto space.