OneCoin scammers to launch Circle of Finance (Invicta)

Two architects of the OneCoin Ponzi scheme are building their next scam.

Veselina Valkova and Habib Zahid, both veterans of OneCoin's inner workings, are launching Circle of Finance—a cryptocurrency venture that copies the playbook of the $4 billion fraud that collapsed around them. Details emerged last November, though the operation remained under the radar until now.

Zahid was a top recruiter for OneCoin, the cryptographic con that promised investors instant wealth before imploding when founder Ruja Ignatova vanished in October 2017. Valkova worked for OneCoin's corporate structure, though she operated mostly behind the scenes rather than on stage hawking the scam to crowds.

The new venture is registered as TradeInvicta in Estonia—a shell company that exists on paper only. They used Heaven Invest, a formation service that sets up Estonian shells for €1,800. Estonia's lax corporate registration makes it the go-to jurisdiction for fraudsters who need quick, anonymous incorporation.

Circle of Finance uses the same business model blueprint that made OneCoin so profitable. According to a YouTube video posted to their official channel, the scheme encompasses forex trading, network marketing, e-commerce, payment processing, and—crucially—exchange and remittance services. Every one of these elements was central to OneCoin's operation.

The exchange promise matters most. OneCoin never launched a real public exchange because doing so would have exposed the scam immediately. Investors couldn't cash out because there was nothing to cash out. Circle of Finance dangles the same carrot. The exchange is pure marketing bait designed to hook the OneCoin victims still convinced their losses are recoverable.

Valkova learned her lesson from OneCoin's collapse. The scheme thrived as long as Ignatova and her inner circle controlled every transaction, every price movement, every payout. When you run the whole operation, nobody can blow the whistle. When you control the exchange, you control who wins and who loses.

Circle of Finance is targeting the desperate. Thousands of OneCoin investors are still holding worthless digital tokens. They've sunk thousands or tens of thousands into a dead scheme. The promise of a new platform, a new exchange, a fresh start—it's catnip for people looking for a way out that doesn't require admitting they lost everything.

This isn't speculation. The video footage, the company registration, the names involved—it all points to a carefully orchestrated resurrection of OneCoin's core architecture under new branding. Valkova and Zahid aren't innovating. They're photocopying.

The remaining question is whether regulators move faster this time or whether Circle of Finance manages to siphon millions from OneCoin's still-hopeful investors before the inevitable collapse.

🤖 Quick Answer

Who are the founders of Circle of Finance and what is their background?

What is the connection between Circle of Finance and OneCoin?
Circle of Finance reportedly replicates the operational model of OneCoin, the $4 billion Ponzi scheme that collapsed in 2017. The founders' involvement in OneCoin's inner workings suggests continuity in fraudulent schemes and similar investment solicitation strategies.

How is Circle of Finance structured and registered?
The venture operates under the name TradeInvicta and is registered as a shell company in Estonia. This registration appears to

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