OneCoin Exposed as Multi-Billion Dollar Crypto Scam Without Blockchain
The alleged "Bitcoin killer" raised nearly $4 billion, but operated on a private database with manually edited balances instead of a genuine blockchain.
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Terms & Concepts
Blockchain: A decentralized, tamper-resistant digital ledger used to record cryptocurrency transactions.
Mining: The process of validating and adding cryptocurrency transactions to a blockchain, often involving complex computations.
Public Ledger: An open, transparent record of transactions in a blockchain network, accessible to all participants.