Good news! Ever since OneCoin is in the news again and “The Missing Cryptoqueen” have already released an 11th episode, proving that they are really back, we are going to redouble our efforts. Starting today, we’ll be summarizing two episodes a week to keep abreast of the latest developments in Dr. ruja. We hit the nail on the head with this one, and there’s nothing for it but to roll the roulette and see where the OneCoin story takes us.
In this episode, we learn that OneCoin’s internal slogan was “the best company ever” and Jamie Bartlett travels to Sofia, Bulgaria, to recover Dr. Ruja to see. This episode is free of mafia innuendo, but instead covers the cultic aspects of OneCoin’s entrepreneurial culture. We can also give a figure on how big the OneCoin scam really was. SPOILER ALERT: It was at least $4 billion in size.
Remember you can download episodes straight from the BBCor listen to “The Missing Cryptoqueen” on Apple, Spotifyor iVoox.
About OneCoin and Episode Three of “The Missing Cryptoqueen’s”
The most exciting thing about “The Missing Cryptoqueen” is the sense of immediacy it exudes. It is a living and breathing podcast. The story revolved around Jamie Bartlett and the team. The OneCoin folks are reacting to the creation of “The Missing Cryptoqueen” and are attacking the creators via social media with everything they have. And the whole scene is part of the podcast. And this is only episode three. In the end, they even ask the public to call and give them a tip about Dr. ruja.
This episode starts with Konstantin Ignatov, the younger brother of Dr. Ruja, personal assistant and heir to the OneCoin crown. He was arrested by the FBI and charged with money laundering and fraud. The authorities had even declared OneCoin a fraud. Surprisingly, Bartlett and the team realize when they visit OneCoin’s headquarters that the company is still “open for business.” People are still buying OneCoin despite the fact that one of their leaders is on the run and the other has been arrested.
Which brings us to the cult-like aspects of the operation. A creed justifies the disappearance of the leaders as a conspiracy to stop OneCoin. In the quote below you can feel the silence when reading the description of the offices of the organization. You will see the adoration of Dr. Feeling Ruja. It is just one step away from religion and very close to a cult. Jamie Bartlett describes OneCoin as “less of a cryptocurrency and more of a belief system.” An expert in the field confirms the hypothesis.
BTC price chart for 10/20/2022 on Bitstamp | Source: BTC/USD on TradingView.com
The devastation they caused
At some point we listen again to the voice of Dr. Ruja saying the slogan of the crypto scammers. “In two years, no one will be talking about bitcoin.” If you ever hear that, run away. In the second episode, we found out that OneCoin called the critics “haters”. In this one we learn that the investors and employees are instructed to stay away from them Scientology style. Another surprising fact is that the second term OneCoin uses most often to describe its critics is “bitcoiner”. Those pesky bitcoiners, who always cause trouble.
We learn about the extent of the devastation Dr. Ruja has caused by hearing about the OneCoin Victims Support Group. The victims are broken, they have lost everything and then some. We also learn about the scope of the scam through a report/database that producer Georgia Catt got his hands on. The organization received 60 million euros per week from all over the world. From August 2014 to March 2017, OneCoin’s revenue exceeded €4 billion. More than €100 million came from the UK alone. And that’s where the report ends, the organization was still making money left and right.
Quotes from “The Missing Cryptoqueen’s” Episode Three – “More Than Just A Coin”
An anonymous witness describing the OneCoin offices:
“At its peak, there were about 50 people working in the Sofia office. Ruja’s office is on the 4th floor. You never saw her without the gypsy earrings, the dresses, the jewelry, everything. Even if she just works in the office. Inside the Sofia office is the crypto center where members of the OneLife network can meet key members of the Sofia staff. If you’re out of favor they won’t let you in, or they’ll make you wait all day.
It is almost set up like a cathedral. You don’t speak out loud, you whisper to each other. It’s all in dark tones, everything is gilded. There was a large cardboard cutout of Ruja. You see people touching it and that stupid OneCoin sign pretending it’s an icon. It’s gone now because it eventually fell apart because too many people touched it. dr. Ruja! dr. Ruja! The biggest insult you can give OneLife is to say, “That’s not Dr. Ruja’s vision.”
Bitcoin enthusiast Timothy Curry, who is the personality cult behind Dr. Ruja describes:
“There were a lot of cultic things the company did. The repetitive indoctrination. If you look at the top leaders, the way they dress, the way they showed things. Ceremonial stuff, almost like, especially on stage. Everything from the musical introductions to Ruja to the theater, they really created an adoration behind her.”
OneCoin content and delivery credits
Six years ago, while OneCoin took the world by storm, NewsBTC quoted the infamous Roger Ver talk about the matter. Known then as a “bitcoin evangelist”, the controversial figure denounced OneCoin for what it is:
“In a recent interview, the owner of Bitcoin.com says he believes OneCoin is a fraud and that investors should always be wary of new coins and do their research before putting their money into things they don’t understand:
“There is never a cryptocurrency without a wallet. This sounds like more proof of its fraudulent nature. OneCoin is not traded on one exchange anywhere in the world as far as I know.”
OneCoin has been around for more than two years, but questions about its authenticity continue to plague the internet.”
Say what you will about Roger Ver, but the man was right about this one.
And finally, the closing credits of the episode:
Presenter: Jamie Bartlett
Producer: Georgia Catt
Story Advisor: Chris Berube
Editor: Philip Sellars
Original music and sound design: Phil Channell
Original music and vocals: Dessislava Stefanova and the London Bulgarian Choir
Previous Guides to BBC’s “The Missing Cryptoqueen” Podcast:
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