Two OneCoin Promoters Found Dead in Mexico
Two OneCoin promoters were found dead in Masatlan, Mexico.
Oscar Britto Ibarra and Ignacio Ibarra, two major OneCoin promoters, were kidnapped and killed in Mexico.
According to the report, the two men were promoting OneCoin as a payment method for a local car company – ‘Latin American Automotive Marketing Company’.
The news was first reported by the publication ‘La Tercera’ last Saturday (July 11th). According to the report, the bodies were found in suitcases in an abandoned property.
In 2017, Oscar Britto signed on as an affiliate (partner) for OneCoin. At that stage, the project was already recognized as a Ponzi scheme by many international authorities.
After promoting the scam for some time, Britto found a partner from Argentina – Ignacio Ibarra. He advertised OneCoin, offering discounts on car purchases if the token was used. According to the report, the promised cars were never delivered. However, the two men continued to promote the scam.
READ MORE: $600 Million Stolen in The Biggest DeFi Hack so Far
Around 140 people were scammed by OneCoin by the end of 2019, with some losing up to $400,000, the report claims.
On June 20, Britto and Ibarra went to Masatlan, Sinaloa, and it is unclear exactly why they did so. A few days later, their bodies were found in suitcases.
Local cartels, who are increasingly using cryptocurrencies to launder their money, are likely involved in the murder.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
