![Karl-Greenwood-Co-Founder-of-OneCoin-Pyramid-Scheme-Sentenced-to-20.jpg Karl Greenwood, Co-Founder of OneCoin Pyramid Scheme, Sentenced to 20 Years in Prison, $300M Forfeiture](https://cryptotoptrends.com/wp-content/uploads/2023/09/Karl-Greenwood-Co-Founder-of-OneCoin-Pyramid-Scheme-Sentenced-to-20-678x381.jpg)
OneCoin began in Bulgaria in 2014, branding itself as a cryptocurrency and telling investors that the token could be mined and had real value. In reality, it did not exist on the blockchain and was a pyramid scheme in which investors were rewarded for bringing in new participants. OneCoin is estimated to have defrauded more than $4 billion from at least 3.5 million victims.
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