According to the Complaint, OneCoin Ltd., founded in or about April 2014, is a foreign corporation based in Sophia, Bulgaria. It markets a purported digital cryptocurrency called “OneCoin” through a global multi-level marketing (“MLM”) network of OneCoin members.

The Complaint alleges that OneCoin, its related corporate entities, and the Companies' founders and principals fraudulently promoted cryptocurrency investments and engaged in an unregistered offering and sale of securities that violated numerous federal securities laws. The Complaint further alleges that OneCoin's principals laundered hundreds of millions of dollars of investor funds.

On July 11, 2019, the Court issued an Order appointing Lead Plaintiff. On July 24, the Court approved Lead Plaintiff's selection of Counsel. Lead Plaintiff filed an amended Complaint on August 2. On February 28, 2020, Lead Plaintiff voluntarily dismissed two of the individual Defendants. On August 20, Lead Plaintiff voluntarily dismissed one of the individual Defendants. Lead Plaintiff filed a second amended Complaint on September 25.

Lead Plaintiff voluntarily dismissed this case on October 8, 2021.