Usefulness of Cryptocurrencies Demonstrated Again

Original title: "US arrests cryptocurrency exec over 'multibillion-dollar' fraud"

Subtitle: "OneCoin was allegedly an elaborate pyramid scheme.

From the guidelines https://news.ycombinator.com/newsguidelines.html

> Otherwise please use the original title, unless it is misleading or linkbait; don't editorialize.

I think we are seeing cryptocurrencies demonstrate one specific use - an easy means of defrauding others of what is "valuable".

OneCoin isn't a cryptocurrency. Where is the cryptography? It is/was a ponzi scheme masquerading under a crypto-tangential name and shouldn't be called a cryptocurrency.