OneCoin Mongolia was part of the international OneCoin organization, founded by Ruja Ignatova. It operated as a multi-level marketing (MLM) network, promoting and selling "educational packages" which purportedly included tokens that could be used to "mine" OneCoins. Despite being marketed as a revolutionary cryptocurrency and "Bitcoin killer," OneCoin lacked a verifiable blockchain and was a centralized, fraudulent Ponzi scheme. The company's mission was to recruit new members to purchase its packages, with a focus on promising exceptionally high returns on investment. The global operation collapsed following international law enforcement actions and widespread public warnings.

Founded in

Mongolia