OneCoin movie starring Kate Winslet coming soon

Even as the OneCoin Ponzi scheme makes its way through the courts, a movie about it is now in development with a Titanic lead star.

As reported by Deadline, Kate Winslet has signed on to star and produce Fake!, a movie based on an unpublished book by Jen McAdam and Douglas Thompson.

McAdam, a victim of the OneCoin scheme, will be a producer on the film.

OneCoin was founded in 2014 by Ruja Ignatova in Bulgaria.

As Cointelegraph previously reported, OneCoin followed the typical structure of a multilevel marketing scheme, but with a cryptocurrency twist.

It promised OneCoin is the next Bitcoin though it wasn't backed by a blockchain or a network.

Despite several warnings from crypto industry insiders and government agencies, OneCoin continued to be popular, fostering an 'us vs. them' mentality.

McAdam, who started a support group for OneCoin victims, told Cointelegraph she and her friends and family invested and lost over 250,000 euros before she learned its server was not a blockchain and could not create crypto.

Investors have sued OneCoin for fraud alleging losses of up to $5 billion.

Fake! is not the first artwork inspired by the OneCoin scheme.