Le Quoc-Hung, a key figure in the notorious OneCoin Ponzi scheme, has launched a new crypto Ponzi scheme — OneLink

Since joining the scam in 2022, Quoc-Hung, also known as Simon Le, allegedly recruited thousands of investors into OneCoin from his home land of Vietnam — before becoming a significant player and recruitment 'captain'.

Accordinging to media outlet, BehindMLM, Le positioned himself and the helm of OneCoin'south OneLife network afterwards the scheme's co-founder, Konstantin Ignatov, was arrested and the subsequent hiding of Ignatov'southward sister, Ruja Ignatova.

Le then used OneLife equally a platform to prompt his new scam, in improver to continuing to solicit investment into the OneCoin scam. Le is believed to be hiding in either Dubai or Vietnam.

Key OneCoin recruiter launches new investment scam

OneLink comprises a classic Ponzi scheme, offering no products for affiliates to sell across membership in the scheme itself.

Members invest into OneLink using the stablecoin Tether (USDT) in exchange for OLX points — with investment packages ranging from $100 to $5,000 on summit of a $40 membership fee. Chapter marketers are promised 10% of the funds invested into the scheme by recruits, with residual commissions from downstream referrals besides flaunted to concenter marketers.

Affiliates are ranked according to volume of investment they can generate from victims, with Rolex watches listed among the bonuses offered to entice prolific marketers.

Several leading figures from the OneCoin scam are currently involved in legal proceedings. Co-founder, Karl Greenwood, faces a pre-trial conference in June, and OneCoin lawyer, Mark Scott, faces charges for alleged coin laundering, and an ongoing form-activity lawsuit.

Crypto Ponzi schemes continue to proliferate

Numerous crypto Ponzi schemes accept shuttered over the years, with their master actors going into hiding. Some of these include Bitconnect, OneCoin, and PlusToken. Despite the prevalence of these scams, new schemes continue to emerge and accomplish alarming levels of success.

AntiMatter Kingdom, a Chinese cloud mining scheme that began operating on April 1, has captivated roughly i,607 Bitcoin (BTC) in less than four weeks.