OneCoin raised about $4 billion selling a cryptocurrency with no real blockchain
OneCoin · Cryptocurrency scheme (private)
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Document authenticity / direct pull
Would have looked for the blockchain the token claimed to run on.
Can mislead when: The company can refuse consent, and a refusal is itself a flag. Some banks and co-op banks are not on AA yet.
Ownership / related-party links
Would have mapped the offshore entities to the founders.
Can mislead when: Nominee directors and offshore layers hide links. Name matching throws up false positives, so every flag shows its evidence path.
End-use tracing of funds
Would have traced investor money to the founders.
Can mislead when: Kubr sees only the company's own accounts. Once money reaches a third party's bank, Kubr can flag the payee but cannot see the next hop without that party's consent.
Where Kubr services would have helped
Financial diligence
Offered in India- C3 Would have mapped the offshore entities to the founders.
- C5 Would have looked for the blockchain the token claimed to run on.
Borrower monitor
Offered in India- C3 Would have mapped the offshore entities to the founders.
- C6 Would have traced investor money to the founders.
Proceeds tracer
Offered in India- C3 Would have mapped the offshore entities to the founders.
- C6 Would have traced investor money to the founders.
Verified Snapshot
Offered in India- C3 Would have mapped the offshore entities to the founders.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.