The largest cryptocurrency scam in Asia over the past seven years was the OneCoin MLM Ponzi scheme, which emerged in 2016 when Bitcoin was priced at approximately $1,200, and Ethereum was around $12. This fraudulent scheme particularly affected investors in Pakistan, where many individuals lost their life savings. Some even went as far as selling their homes to invest in OneCoin, lured by the promise of high returns through its multi-level marketing (MLM) structure.

OneCoin offered investment packages ranging from $300 to $18,000, with participants incentivized to recruit others into purchasing larger packages. The scheme thrived on aggressive marketing and false promises until its operators disappeared, leaving investors devastated.

This incident served as the first exposure to cryptocurrency for many in the region, albeit in a negative light. It stands as a crucial lesson: never invest in MLM-based schemes, as they are often designed to collapse, taking your money with them. Always conduct thorough research and invest only in legitimate, transparent financial instruments.#MileiMemeCoinControversy #BNBChainMeme #PPIShockwave #BinanceSquareFamily