It looks like the Onecoin scam is now a few steps closer to finally ending. As reported by Finance Magnates and Finance Feeds, legal proceedings against the project, as well as law enforcement activities are making an impact with the latest being a shut down of the OneCoin project website.

While the search is still on for the project’s founder, Ruja Ignatova her lawyer and broker are now either facing legal action or have already been convicted of several charges, including money laundering. Ignatova’s brother, Konstantin Ignatov, who allegedly co-founded OneCoin and aided Ignatova in operating the scam, has reached a plea deal with the US Department of Justice after being arrested in Los Angeles earlier this year. Ignatov currently faces a 90-day jail sentence, and could be sentenced to 90 years in prison.

The OneCoin scam is estimated to have generated over $4 billion in illicit revenues and it will be a daunting task to find and recover such a large amount of funds. It will be important to see what can be learned from this massive fraud in order to ensure such large scale scams don’t happen in the future.