The founders of the cryptocurrency exchange based in Bulgaria, OneCoin have been recently arrested for promoting fraudulent activities. The founders of OneCoin, Mark Scott and Konstatin Ignatov was reportedly arrested on 6th March for encouraging people to invest in the pyramid schemes. Ignatove have reportedly stated, “If you are here to cash out, leave this room” when asked if the investment can be cash out.
A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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