OneCoin just bought a collapsing pyramid scheme, and the victims are furious.

The cryptocurrency company confirmed Friday that it acquired UniverTeam, a Brazilian operation that promised returns through network marketing. The deal gives OneCoin access to 120,000 people across Latin America and adds them to the company's 1.4 million members worldwide.

OneCoin CEO Ruja Ignatova called it a major strategic move. "Latin America is a very important market for us, and our partnership with UniverTeam will allow thousands of people there to take advantage of the unique opportunities we offer," she said in a statement.

But UniverTeam's own investors tell a different story. Their Facebook page shows a graveyard of complaints from people who lost money and can't get it back.

A Brazilian investor posted on February 19th that 2,000 euros were frozen in his account due to a system error. No one answered his requests for help. Days later, another user called the operation "a fiasco" and said he'd been waiting weeks for a refund. A Colombian investor reported putting in 30 million pesos across November with partners and hadn't seen a cent. "Are you going to steal that money?" he wrote.

By late February, the complaints turned darker. One user declared the company had already collapsed. Others pointed fingers at Alexandre Arenales, UniverTeam's leader, accusing him of running similar schemes before and deliberately blocking withdrawals through fake wallet errors. Someone else made religious accusations, writing that Arenales and co-founder Daiane Barros had "deceived many people."

A handful of users said they'd submitted multiple withdrawal requests that never hit their bank accounts.

OneCoin operates as a Ponzi scheme where members buy in and recruit others below them to make money. The company has faced legal trouble in multiple countries and is banned in several jurisdictions. Ignatova herself disappeared in 2017 and remains a fugitive. Authorities have charged her with fraud and money laundering.

The UniverTeam acquisition appears designed to inject fresh capital into OneCoin's collapsing operation. South America represents an untapped market of potential investors unfamiliar with the company's history. By absorbing UniverTeam's 120,000 members, OneCoin gains immediate access to people already conditioned by one pyramid scheme and potentially vulnerable to another.

For UniverTeam's victims, the news likely brings no relief. They're not getting their money back from the collapsed Brazilian operation. Now they're being funneled into a larger scheme with a proven track record of making people disappear—including its own founder.

🤖 Quick Answer

What cryptocurrency company acquired UniverTeam in a controversial deal?
OneCoin, a cryptocurrency firm, confirmed the acquisition of UniverTeam, a Brazilian network marketing operation. The deal provided OneCoin access to approximately 120,000 members across Latin America, expanding its global membership to 1.4 million users.

Why did UniverTeam investors express dissatisfaction with the acquisition?
UniverTeam investors reported significant financial losses and inability to recover their investments. Social media complaints from Brazilian investors documented widespread grievances regarding funds that could not be recovered through the platform.

How did OneCoin characterize the UniverTeam acquisition?
OneCoin CEO Ruja Ignatova described the acquisition as a major strategic move, emphasizing Latin America's importance as a market and highlighting UniverTeam partnership benefits for the region's members.

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