Ponzi scheme Onecoin hits the big screen! Will be starring Kate Winslet, the leading actress from Titanic.

An overseas media outlet "Deadline", which focuses on reporting entertainment news and Hollywood, pointed out that the cryptocurrency Ponzi scheme "Onecoin" will hit the big screen, starring award-winning actress and Titanic leading lady, Academy Award winner Kate Winslet.

"Fake"

The movie "Fake," centered around the transnational Ponzi scheme "Onecoin," is based on the book of the same name soon to be published by Jen McAdam. The book tells the true story of McAdam's involvement in the Ponzi scheme, where McAdam herself will also be one of the movie's producers, with the screenplay written by Scott Z. Burns.

It is understood that McAdam was initially using the inheritance left by her father to find reliable investment targets when she encountered "Onecoin." In the end, McAdam and her family and friends lost a total of 250,000 euros (approximately 8 million New Taiwan Dollars).

Initially, McAdam believed that Onecoin could bring her substantial profits and recoup the costs within just twelve weeks. However, as time passed, more and more members were unable to cash out, and the scheme was officially exposed. As a result, McAdam not only published a book but also established an organization for Onecoin victims.

"Onecoin"

Previous reports have covered Onecoin, one of the world's most well-known cryptocurrency Ponzi schemes, which ran from approximately 2014 to 2017, amassing over 135 billion New Taiwan Dollars worldwide.

The founder of Onecoin is Ruja Ignatova (Dr. Ruja), who claimed at the time to have invented a revolutionary and disruptive virtual currency called Onecoin. She even spoke at The Economist summit and packaged the project with blockchain technology and a large number of high-profile intellectuals as members.

Current Situation of Onecoin

Founder Ruja Ignatova disappeared along with all the funds in October 2017 after boarding a flight to Athens, Greece, and her whereabouts remain unknown to this day. Her brother, Konstantin Ignatov, was arrested in March 2019.

In a civil suit brought by victims against the founder's brother, Konstantin Ignatov initially sought to become a tainted witness but was rejected and became a plaintiff. Even though plaintiffs Donald Berdeaux and Christine Grablis reached a settlement with Ignatov, in the lawsuit filed by the U.S. Department of Justice (DOJ) against him, he may still face up to 90 years in prison.