I just saw an interesting case update about the follow-up to the OneCoin fraud case. The High Court of the United Kingdom has overturned all charges against Moyn Islam and his brother Monir, and the international orders that had frozen their assets have also been lifted. Honestly, the two brothers were essentially small investors who got swindled out of their money by OneCoin. When they later realized something was off and wanted to warn others, they ended up being prosecuted instead. Now the court has confirmed that they’re not at fault, and the people who brought the charges will have to compensate them for their legal fees.

In a statement, Moren Islam said that over the years, false information about OneCoin ruined his reputation, and he was accused of fraud and of fleeing the UK. Now, at last, he can turn things around. The OneCoin scam started in 2014, and it cheated people out of about $4 billion, with more than 1.6 million victims falling for it. The two brothers believed it at the time as well, only realizing something later. The court’s decision now means they can focus on their own business without having to carry around these unfounded accusations.

The case number is CL-2024-000213. It was already closed in January last year, but it was only made public recently. It feels like things like this are still pretty common in the crypto world—innocent people get pulled into it, and they end up spending a lot of money on legal battles just to prove they’re right. Moyn Islam must have won this one, then.