Onecoin fiasco in India

This is the time to cheerup ! Most of the frontline crypto currencies are making new highs, but Indians may not be able to get rid off of the sour crypto currency called onecoin. Recently, the law enforcement officials in Pune arrested a few associated with this currency. OneCoin was marketed as a virtual cryptocoin but without an actual public and transparent blockchain. This was promoted by OneCoin Ltd, which was a Gibraltar company led by Bulgarian Ruja Ignatova.
It was a purely money circulation scheme which is prohibited under the Indian laws. OneCoin never sold any cryptocoin but sheerly termed itself as a coin just to take benefit of the crypto boom. It was selling education material for trading. Members bought these educational packages ranging from 100 euros to 25,000 euros and each package included tokens. Other countries like Germany also tested this cryptocurrency, but regulators stopped them.
Media is playing significant role in highlighting these incidences, which resist indians from entering into crypto trading