Cryptocurrency firm OneCoin sued over multibillion-dollar fraud

An investor seeking a class action lawsuit against OneCoin has been filed in the Southern District of New York, according to Bloomberg. Plaintiff Christine Grablis is seeking unspecified damages for $130,000 invested and lost in the pyramid scheme. OneCoin generated $3.8 billion in revenue from Q4 2014 to Q3 2016 and claimed to have over 3 million members worldwide. A March case against OneCoin founder's Konstantin Ignatov and Ruja Ignatov found that OneCoin had no value and wasn't accepted by anyone in the U.S.

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