: Unlike Bitcoin, OneCoin never had a public blockchain or a verifiable mining process; it was a private database controlled by the company.
: The only place to "trade" was the internal xcoinx exchange, which was permanently shut down in 2017.
: Authorities in numerous countries, including Germany, Italy, and Thailand, issued cease-and-desist orders or labeled it an illegal digital currency years ago. 2. Legal Status and Prosecution
as it is widely recognized by international authorities as a fraudulent multi-level marketing (MLM) pyramid scheme.