Articles under ‘OneCoin’:

OneCoin warning issued by Bank of Uganda

aUganda is the latest country to issue a regulatory warning against OneCoin. A notice published by the Bank of Uganda on February 14th all but accuses OneCoin of being a Ponzi scheme.

OneCoin’s Chris Principe also promoting Skyway Capital Ponzi scheme

In his own words, when Chris Principe ‘first heard about OneCoin, (he) thought it was either a scam or a pyramid scheme‘. That quickly changed  after OneCoin paid Principe to run a fluff-piece in his Financial IT publication. In addition to paying an undisclosed amount of money to change Principe’s opinion of the scheme, OneCoin [Continue reading…]

Slovenian consumer association issues OneCoin warning

In contrast to the speed of which European authorities are investigating the scheme, OneCoin warnings from consumer protection agencies continue to roll in. The latest is a January 25th warning from Slovenia’s Consumer Association.

Second German consumer agency issues OneCoin warning

In an interview with German radio station SR3, Thomas Beutler of Saarland’s Consumer Protection Center has warned against OneCoin investment.

OneCoin lose “secret” Abu Dhabi bank account

Following a large number of bank account closures in 2016, OneCoin began to get very secretive about their banking details. Previously accounts for affiliates to deposit invested funds into were provided in the backoffice. Today affiliates need to go through designated “leaders” who route invested funds into OneCoin’s accounts. Ari Widell, author of the Scam [Continue reading…]

OneCoin warning issued by Latvian Consumer Rights Protection Center

Citing previous OneCoin pyramid scheme warnings from Latvia’s Financial and Capital Market Commission, the government’s Consumer Rights Protection Center has today issued their own warning.

Judicial investigation initiated against Laurent Louis (OneCoin)

Following a complaint from a OneCoin victim last November, Laurent Louis was the subject of a criminal complaint. The victim claims Louis convinced him to invest 50,000 EUR on the promise of a 1000% ROI “or even more”. Louis (right) stands accused of pyramid selling, fraud, violation of banking laws and money laundering. Louis is [Continue reading…]

$52,000 OneCoin scammer taken hostage by victims

When you’re sitting on the internet all day posting inspirational memes and marketing your lastest MLM underbelly scheme, it’s easy to forget you’re pitching to real people. As two OneCoin scammers in India recently found out, some victims are all too willing to take matters into their own hands.

OneLife suspend OneCoin withdrawls, affiliates can’t cash out

Whatever hopes OneCoin affiliates had of getting their money out of the scheme have been dashed, after it was announced the xCoinx internal exchange will remain closed. The news was broken to OneCoin affiliates over the weekend, tacked onto the end of a video message by Founder Ruja Ignatova.

Nigerian SEC warns against OneCoin, SwissCoin pyramid schemes

In a public notice published yesterday, the Nigerian SEC has issued a warning against cryptocurrencies and pyramid schemes. OneCoin, SwissCoin and Bitcoin are specifically singled out, with the SEC extending the warning to “such other virtual or digital currencies”.