DEVIL'S COIN

A personal account of a Scottish woman’s fight against a fraudulent organization.

When she invested in the cryptocurrency OneCoin, McAdam sought to create a secure nest of savings for her family. Swayed by the enigmatic business tycoon Dr. Ruja Ignatova, the author didn’t realize she was giving her money to one of the world’s most sinister scams. OneCoin targeted “unbanked” and “underbanked” populations, and the vast majority of victims were unable to fight back when they lost everything. In this hybrid of memoir and vigilante origin story, McAdam clearly shows how she fell into OneCoin’s trap, but she dedicates most of the text to her journey of retribution. Spreading awareness about the scheme, she gave voice to the victims even as she received death threats from OneCoin. The author begins and ends the book with an overflow of emotion, while the middle concentrates on the scrupulous details of the con. Some readers may get lost in the wave of characters that weave through the labyrinth of Ignatova’s criminal network. McAdam’s work is an incredible story that requires focused attention. Meticulous readers will be at the edges of their seats, but others may feel the urge to skim. However, even without knowledge of cryptocurrency or OneCoin, it’s easy to empathize with the author. The prose is largely straightforward, reflecting the tone of a testimony with interviews and data. “Ruja had kidnapped my life and I was a changed person,” she writes, “still caring and concerned for others, but I was much more cynical, acutely aware of life’s dark side and finding it almost impossible to trust others….These bastards made people lose their lives, get sick, become hopeless—and then took off with all they had without regret or even a glance at their victims, who were nothing but a commodity.”

A poignant dive into the rabbit hole of financial fraud and mysterious scammers.