Is OneCoin the world’s biggest crypto hoax?

Picture the scene. It’s London’s Wembley Arena and the date is June 11, 2016. Dr Ruja Ignatova takes to the stage against a backdrop of the Alicia Keys’ hit song Girl On Fire. Flames shoot high into the air and hundreds of screaming fans get their mobile phones out to welcome their hero.

With her flowing silk ballgown, trademark bright red lipstick and expensive diamond drop earrings, she looks every inch the star – but there’s a difference. This isn’t a pop concert but a financial sales presentation. Dr Ruja isn’t a superstar but the ‘founder and visionary’ of a pseudo ‘cryptocurrency’ called OneCoin that, at the time, was taking the world by storm.

Less than 18 months later the self-styled ‘cryptocurrency Queen’ failed to show for a OneCoin event in Portugal in October 2017 and things began to unravel. She hasn’t been seen since – just like much of the billions that investors all over the world have parted with.

And here’s the thing. OneCoin was…