Ethereum dev: “OneCoin is a pure scam”
Ethereum is ‘a public blockchain-based distributed computing platform, featuring smart contract functionality‘ (Wikipedia).
In a nutshell, third-parties can use the Ethereum platform to create applications that use blockchain technology and its Ether cryptocurrency.
Ethereum is currently the second biggest cryptocurrency in the world, with a market cap of $951 million and $11.53 value.
Naturally you’d expect developers behind the Ethereum to know a thing or two about cryptocurrency.
According to one Ethereum developer, “OneCoin is a pure scam”.
Bob Summerwill made the remark in a recent Reddit thread, in which it was reported OneCoin spam links has been left on an official Ethereum website blog entry.
If somebody has access to the blog, I think it would be a really good thing to remove those comments to avoid funneling any visitors to their site and so their google page rank isn’t being increased. Thank you!
Summerwill, in his capacity as an Ethereum developer, replied;
I agree. OneCoin is pure scam, taking advantage of people who know no better.
Summerwill himself wasn’t able to removed the spam but another developer removed the offending content shortly thereafter.
Seeking clarification from Summerwill regarding his claim, BehindMLM reached out via email for further comment.
Summerwill, all too happy to be quoted as a cryptocurrency authority, provided the following statement:
There are almost *too many* red-flags with OneCoin, but let me just pick two key points:
1. Nobody within the cryptocurrency community recognizes OneCoin as a cryptocurrency.
Coinmarketcap lists nearly 700 cryptocurrencies, down to the most worthless of projects. Where is OneCoin?
The story is the same on every single cryptocurrency website and exchange. OneCoin is nowhere to see seen, except in their own marketing materials.
The only references you will find online are articles warning against OneCoin as a scam.
2. Crypto-currencies are trustless and decentralized – that is their whole purpose and essence.
They rely on decentralization (anybody can run a bitcoin node) and on encryption and consensus algorithms like proof-of-work to make them trustless (you don’t need to trust any individual, just to trust math).
They are open-source and documented and based on science. White papers are published explaining how they work, and these are mercilessly critiqued.
The state of the art in blockchain technology progresses like good science – in the open and based on facts.
OneCoin is the polar opposite to real cryptocurrencies. It is anti-science, with no public information, no transparency and nothing more than “trust me” from individuals who obviously have a lot to hide.
They run everything. They control everything. You can only buy and sell through their website. It is anti-cryptocurrency.
This centralization is the key thing which bitcoin and other cryptocurrencies seek to remove in comparison to fiat currencies.
Bitcoin can be bought and sold in hundreds of different ways. There are thousands of merchants who accept bitcoin. None of this is true for OneCoin.
“Centralized cryptocurrencies” make no sense whatsoever. Everything which comes out of their mouths is laughable to the cryptocurrency community.
They are selling snake-oil. Do honest business people stomp around on stage with loud music and fireworks? Do honest people hide behind unclear business structures?
The sad thing to me is that this kind of scam is succeeding in extracting vast sums of money from the pockets of those who can least afford it.
They are taking advantage of people who are not technically savvy enough to realize that “the OneCoin sell” makes no sense whatsoever.
No doubt most of the “buyers” have heard of bitcoin and heard the term cryptocurrency, but know little more than that. OneCoin continually conflate themselves with bitcoin and cryptocurrency as a whole – but it is a complete lie.
As OneCoin continues to try to insert itself into the cryptocurrency community, we’re seeing an increasing number of members of it push back.
Last month alone we saw two separate instances of cryptocurrency enthusiasts openly challenging OneCoin promoters at recruitment events.
For their part, OneCoin management are well aware OneCoin’s Ponzi points business model is at odds with the wider cryptocurrency community.
At OneCoin’s “CoinRush” event held in June, Founder and CEO Ruja Ignatova (right) told assembled affiliates:
You know, I have been accused by the so-called community of cryptocurrency, ‘she is violating the philosophy of cryptocurrency’.
(It) sounds very spectacular, I am violating the philosophy.
To everybody who tells me that I violate the philosophy of cryptocurrency… guys, we are (a) bigger community. We decide what the philosophy of cryptocurrency is.
We will be the biggest out there and we will write history. And the cryptocurrency community will have to rewrite philosophy.
Whether that indeed happens remains to be seen.
the top honchos of onecoin like ruja ignatova, sebastian greenwood, juha parhiala, ed ludbrook etc should answer the questions raised by the real cryptocurrency community, instead of strutting around the world announcing that onecoin is the ‘bitcoin killer’.
i’m glad the cryptocurrency community is taking offence and taking the time to kick rujamama’s butt.
11 hrs ago bob summerwill posted this message on reddit:
people, kindly share the relevant information with mr bob summerwill!
i love that cryptocurrency enthusiasts are ‘Disrupting’ onecoin events. this has to be a new kind of protest against ponzi schemes which pretend legitimacy by structuring themselves around trending concepts like ‘cryptocurrency’.
i haven’t seen this kind of ‘activism’ against a ponzi scheme before, so more power to the onecoin ‘disruptors’ who are willing to gatecrash onecoin events and call it out for the scam it is!!
For any cryptcurrency enthusiasts or scam-busters: HERE are some of the Meet-Ups I found on MeetUps.com
Los Angeles Group Meet-Up: meetup.com/Los-Angeles-New-Currency/
Atlanta, GA (#1) meetup.com/GreaterAtlantaDigitalCurrencyMeetup/
and
Atlanta, GA (#2)
meetup.com/One-Billionaire-Club/
Overland Park, KS
meetup.com/Overland-Park-New-Currency-University/
Houston, TX
meetup.com/Houston-New-Currency-Lun…/…/121226522/
Medfield, MA
meetup.com/Future-of-Money-Meetup-Medfield/
New York, NY
meetup.com/Cryptocurrency-Convention-CCCNYC/
Champagne, IL
meetup.com/CRYPTO-preneur-Champaign/
Santa Barbara, CA
meetup.com/Santa-Barbara-Digital-Currency-Meetup/
Ventura CA
meetup.com/Ventura-New-Currency/
Nashvile, Tennessee
meetup.com/Nashville-Digital-Currency-Meetup/
Pleasant Grove, Utah
meetup.com/Financial-Education-For-Digital-Curr…/
Las Vegas, NV
meetup.com/DigitalCurrencyMastermind/
Houston, TX
meetup.com/Houston-New-Currency-Luncheon/
Canada (Mississaugas, ON):
meetup.com/Mississaugas-New-Currency-University/
U.K. – Birmingham
meetup.com/One-Coin-The-Bitcoin-Killer/
U.K. – Glasgow (Scotland)
meetup.com/ONE-DREAM-TEAM-SCOTLAND-DIGITAL-CURR…/
Switzerland – Wallisellen
meetup.com/Wallisellen-OneCoin-Krypto-Currency-…/
Germany – Furstenfeldbruck (#1) meetup.com/Furstenfeldbruck-Onecoin-Kryptowahru…/ and
Germany – Munchen
meetup.com/Munchen-Kryptowahrung-ONECOIN-Invest…/
Australia – Brisbane (and Gold Coast)
meetup.com/OneCoin-Brisbane-and-Gold-Coast/
France – Rennes
meetup.com/Meetup-Innovation-Rennes/
Nederlands – Haarlem
meetup.com/Haarlem-Amsterdam-OneLife-Meetups/
They just announced a “Press Kit” …
onecoin.eu/en/press-kit
Just buying time… Tic Tac Tic Tac
so, ken labine, the onecoin village idiot from canada is frothing and fuming.
he’s just so pissed that the ‘scared’ bitcoin people are crashing onecoin events and attacking the ‘freedom of speech’ of onecoin scam recruiters.
because, y’know, one coin will overtake bitcoin come october 1st, 2016 when the new blockchain is unleashed on the world and everyone’s onecoins get magically doubled!
labine says there have been so many investigations into onecoin, and nothing came out of them. er, hello labine, exactly where has onecoin been ‘cleared’? we know of several countries warning about onecoin, we know of some investigations into onecoin, but we haven’t yet heard of onecoin being ‘cleared’ by any country.
and labine, you haven’t addressed why youtube threw the onelife channel out. is youtube ‘scared’ of onecoin too?
labine is glad that all the attention the ‘scared’ bitcoin people are giving him, has let to a large following on facebook.
hey, labine, this^^ knife cuts both ways. a large following now means a large bunch of angry people who will be seeking out your ass, when your silly scam crashes.
onecoin is currently teaching it’s IMA’s [independent marketing associates] some psuedocompliance word spin to avoid using terms like ‘investment’ and ‘get rich quick’ :
gallery.mailchimp.com/cf9659fd672fe664d487e7e1b/images/13c99113-fdba-4f6c-ab21-e5aa3a7580ab.png
zeek tried to teach its affiliates psuedocompliance language, recently traffic monsoon’s scoville tried to dance around the SEC with some psuedocompliance BS, and look what happened to them.
two more articles from the crypto community, yesterday and today, bashing the onecoin scam:
1] newsbtc.com/2016/08/01/is-onecoin-legitimate-the-most-asked-question-on-the-internet/
2] medium.com/@BlockByBlock/why-onecoin-is-one-big-scam-555064d4f308#.5kpzz0ucd
@anjali – that second link does an AMAZING job in breaking it down! Thanks for the share 🙂
“so, ken labine, the onecoin village idiot from canada is frothing and fuming.
he’s just so pissed that the ‘scared’ bitcoin people are crashing onecoin events and attacking the ‘freedom of speech’ of onecoin scam recruiters.”
He’s really said that? So he doesn’t understand freedom of speech, where the recruiters were perfectly free to deliver their message, the real objection seems to be he doesn’t like the freedom of speech of others to point out the problems.
I love to follow the articles and comments published here concerning OneCoin and other scams. It makes me shiver the number of new Coin scams alluring people every week now.
One of the real to me dangerous ones…besides OneCoin… and because of the speed and size they have already is OctaPartners (OCP – OctaCoin) and nobody seems to write about nor investigate them in-depth.
There was an article here on the website in April 2015 when they were still called Crypto888 (before it was JUUBEO).
One of the names that might trigger you involved there is Nigel Allen… exactly who was thrown out of OneCoin… and now just like Sebastian Greenwood at OneCoin seems to be the main man in OCP.
They really play under the radar like the real money games used to do… they allow their member to publish the meetings or send invites only hours before the start but have from what I heard now… almost a million distributors (people) that have invested serious money and drag in others every minute.
Same story… not transparent how they make money (besides money coming in)… value of their Coin… same story as OneCoin… splitting mining etc… and even cash out stop at the moment or limited… So many resemblances.
Other people that seem to be linked to that company have a questionable history. Plans change from month to month… they have a supposed partnership with NXChain and LXC Coin (that made again thousands invest more because they were on their way to NASDAQ) but hmmmm the “credible” guy that runs that company Henrik Ellefsen was charged for the Norwegian T5PC fraud and condemned to 3.5 years in prison in 2007. (80.000 people lost 160 Million $ in total).
Their announced event to Thailand has been cancelled recently because of bigger news coming… they need probably more money to keep the machine going.
Id love an open event in my area of California. California Penal Code section 327 seems a nice fit.
the way ruja ignatova oversees the official FB pages of her ‘bitcoin killer’ company is hilarious.
for days together, the FB pages fall into anarchy, with commentators complaining and criticizing onecoin, and calling it a scam.
then someone over at onecoin wakes up, ties their apron and sweeps out all the negative comments.
this^^ means that ruja does not even have a single staff member who can moderate the onecoin FB pages on a daily basis.
i wont be surprised if ruja herself, does the sweeping and mopping on FB whenever she has time to spare!
well John H, maybe not tomorrow, rujamama’s ‘censorship’ is quite unreliable, let’s just say – when she finds the time you will get censored!!
Yep, I knew the person who used to do that a year ago… perhaps she’s not there anymore.
Look at their page activity: their last post was published on 27 July…long time ago.
@llidanStormrage – do tell more! Get us up-to-date!
Bring in more disgruntled commentators to this thread, be they “anonymous,” or not!
Certainly, despite the obvious LIES and other egregious behavior of Onecoin, there are MANY newer “members” who were brought on via the “epiphany” that The Federal Reserve and corporate banking structure are controlled by a few international “mountain movers” and money shakers who play the “marionette.”
THIS is the same “ideologies” which drew many Bitcoin and Cryptocurrency “enthusiasts” into realization that our current “money system” is ‘flawed.’
However, the criminal minds and career con-artists are capitalizing on this “epiphany” to instigate one of the greatest and most clever SCAMS that have ever been perpetuated, using the new buzzwords of “cryptocurrency” and “Blockchain technology” – which are “totally ‘hip’,” but are also completely unsubstantiated within the realm of what Onecoin is either capable of, or has given any evidence, whatsoever, of communicating, at even the most simplest level.
The SCAM has merely recognized and is perpetuating “buzzwords” which even they clearly do not understand, in the slightest!
They are appealing to a mainstream “band-wagon” who have no idea whatsoever about how true Cryptocurrency “works,” but definitely recognize the value of the philosophy, and are the first criminal “movers” to exploit the general public’s lack of education in the space, by pretending to ride the coat-tails of Bitcoin, and subject their VICTIMS to the anarcho-capital philosophy of evading 3rd party intermediaries (banks, governments, corporations) by pretending to be >2 million members strong (while not realizing that the numbers are inflated, and that the majority of “members” are simply names I databases acquired from previous failed schemes, in order to expand the network by conning more who lost money in previous “bitcoin killers” or premature Ponzi claim opportunities.
The fact remains that Bitcoin, a decentralized, distributed and immutable ledger system, is the most amazing and secure Blockchain ledger which has ever been created.
As such, it enables “programmable money,” which Ruja and clowns haven’t an inkling of understanding in, but which enables true “peer-to-peer” financial and “trustless” cooperation, in which the transaction is proven sincere, and in which money can move from one wallet to the nest, and the value of the BTC is completely recognized within dozens of exchanges and opportunities.
Oz, I’m turning to you, for the second time, for your opinion on an “opportunity” I’ve been approached with.
This time, it’s OneCoin. Is this a Ponzi scam, a pyramid scheme; or both? I’ve read several entries on the website stating negative opinions, but value yours. Thanks for your response!
I was in onecoin and nadeem good money of recruiting people join onecoin.
After the block chain has changed and onecoin changed to onelife. I stop promoting onecoin and I don’t believe this company anymore for many changes.
So it was good to you before the name change and “blockchain” change to onecoin?
So no other thing stood out as being bad?
So the money was good as in recruitment and not the “education” ?
I just want to be clear on all of that.
after declaring that bitcoiners are ‘scared’ of onecoin, labine has taken his scammy ass to the UK, to recruit more people into onecoin.
he is going to be speaking at several onecoin recruitment events along with onecoin top recruiters like kari wahlroos. seems that labine has worked his way up the onecoin pecking order, by posting waffle videos in support of onecoin.
but but but, once you give labine that mic, how will you take it away from him? that guy can drone on and on and put potential onecoin recruits to sleep. maybe wahlroos will stand behind labine with a heavy object in hand and go ‘Boink!’ if labine wont let go the mic 🙂
I’m not quite sure how this travelling salesmen bit is organized, maybe someone with experience can enlighten.
I mean, people like Latrine aren’t making huge amounts of money (other than the equivalent of a regular salary maybe?) so flying round the world is not something to be done on a whim.
Has he been told to go by his upline handler? Do they have a rota?
Obviously they pay expenses out of their own rake off, maybe OC Central says something along the lines of “Diamonds and above are expected to spend X% of their gross on OC promo work?”
I understand that domestic pimping would be done with the intention of direct benefit for the affiliate, but I’ve been intrigued by the international travel budget of this circus, anyone with input on this here?
BTW, I wouldn’t be surprised at more Direct Action a la Florida and Melbourne occurring in the future….
The event on Saturday is at the kensington close hotel in London.
I have emailed the hotel to warn of the scam that is coming their way. Might be useful if a few more people can email a warning to them and see if we can get this event cancelled.
Below are two email addresses for the hotel. I will find out the email addresses for the rest and post them here over the weekend
Conference(at)kensingtonclosehotel.com
Res(at)kensingtonclosehotel.com
i’m not sure if this system is used internationally, but in india top recruiters are often paid travel expenses by the company.
top recruiters who are making big bucks may in turn pay travel expenses for someone in their downline, if they feel the guy has the potential to become a good recruiter, or if they feel his presence at a recruitment meet would be beneficial.
i think labine has become somewhat [in]famous in onecoin because of his big mouth, and top earners like kari wahlroos wouldn’t mind paying for his trip to display him onstage as onecoins knight in shining armor.
‘Hey I saw that guy on YouTube! ZOMG TAKE MY MONEY!(*%*!!!’ *faints*
This is getting interesting! Obviously, the name of the game at this point is to DESPERATELY keep money in the system.
On Onecoin’s main FB Page, Onecoin Member, Dylan Wong Ls asks:
SCREEN CAPTURE: pinterest.com/pin/184506915963545958/
Can someone with access to the back office confirm this as true?
Also, “Alexa Ratings” were what both Tom McMurrain and Ken Labine have been touting for 16 months as the way to know how much Onecoin is growing and “taking over.”
Here are Onecoin and OneLife Alexa charts, clearing illustrating more trouble in paradise!
OneLife (the “new” name)is beginning to flat-line less than 2 months after this announcement, despite everyone’s money “doubling” who signs up before Oct. 1st:
alexa.com/siteinfo/onelife.eu
Onecoin (“old” name) absolutely TANKING!
alexa.com/siteinfo/onecoin.eu
Furthermore, Labine is in London now, as we know. He just posted THIS earlier, calling for a TEAM LEADER/ REP ONLY meeting tonight: pinterest.com/pin/184506915963545999/
Consider Onecoin’s latest pseudo-compliance initiatives, which none of the top leaders have bothered with, maybe they didn’t just call Labine in for speaking at a seminar next to his hero, Kari “I wear sun-glasses because the future looks so bright” Wahlroos.
Maybe they called him there because they recognize the ship is sinking and they now have all the big reps with the longest down-lines together in one place to instruct them on what to say and not say these coming weeks/ months!
It appears that even the Alexa “OneLife” rating has formed exactly half the shape of an impending phallus, which is what is about all the compensation any of the recent victims of this scam will be getting.
I can confirm, it’s 30€ comission.
pictub.club/image/IH5ro
Nice video from the former onecoiner Ryan Conley: OneCoin has stolen My Money!
youtube.com/watch?v=qkfMBKt3cQo
in the end he is even offering a unique way to get rid of useless coins.
There is a beautiful new piece on Brave New Coin website, dissecting OneCoin/OneLife. Very methodical and enjoyable reading:
bravenewcoin.com/news/how-not-to-blockchain-a-look-at-onecoin/
2 of my favorite lines are:
-and-
A must read, IMO.
the finnish media has an article today reporting on onecoin and comparing it to one of finland’s biggest scams ‘wincapita’.
savonsanomat.fi/kotimaa/Uuden-virtuaalivaluutan-taustatiimill%C3%A4-Wincapita-yhteyksi%C3%A4-ja-petostuomioita/813727?pwbi=3bed38563ed1f22fc8ccc89e4ed86676#comments
the google translation is quite poor, but one can follow the gist of the article which basically suggests onecoin is a scam.
Hey anjali,
Thanks for that pointer on the OneCoin meeting in Vancouver, but sadly it has already happened.
If anybody does spot further OneCoin meetings in Greater Vancouver area, please do contact me at @bobsummerwill on Twitter or bob@summerwill.net and I **will** go and expose them.
Thanks for the article, Oz. I’ve just shared it on our sub-Reddit:
reddit.com/r/ethereum/comments/4wp0br/ethereum_dev_onecoin_is_a_pure_scam/
Here was the earlier thread. We’ve wiped all the spam comments and will do so again as required:
reddit.com/r/ethereum/comments/4vgh3n/onecoinscam_links_in_comments_on_ethereum_blog/
What they are doing is just revolting. Love your articles here, Oz. Keep fighting the good fight!
So far at least 7 finnish newspapers have posted the story. A reported sneaked in to a small scale recruitment session in Hlesinki.
Seppo Metsala, a OneCoin recruiter there said for example that:
Hey Ken, you forgot to do the sphincter thing with your fingers.
Be careful to be “on message” at all times, or Compliance will freeze your account(s). 🙂
i.imgur.com/vS5sCU1.jpg
No worries Bob, thanks for getting back to me.
Every time someone says something even little bit suspicious regarding OneCoin on Labine’s facebook, Labine comes attacking like: You fool, you hating simple minded ignorant fool thanks for exposing yourself as the hater you are!!!11
Somehow I can’t imagine that you would get a similar kind of response from some Ethereum Foundation guy even if you would say that you don’t believe in Ethereum. 😀
OneCoin is a really a fking cult, and in UK it seems to raise interest especially among the pakistani community for some reason.
omg
i just caught a couple of videos by joby boughey [onecoin top recruiter from the UK] fawning all over ken labine and calling him the biggest ‘advocate’ of onecoin and saying he should be the ‘ambassador’ of onecoin and that he works closely with ‘compliance’.
to the best of my knowledge labine has not been able to satisfactorily address any questions regarding the legitimacy of onecoin and its cryptocurrency, either on behindmlm or on other forums with cryptocurrency enthusiasts like tim tayshun.
after getting his ass whipped on these public forums, labine usually reacts by posting angry long rants on youtube, where he can present his onesided ‘opinion’ without being shown up for the idiot he his.
apparently, these illogical rants, which are merely bluster without substance, have made labine a poster boy for onecoin, to be paraded at recruitment events in the UK.
and oh, in the video with boughey, labine keeps interrupting him and snatching ‘talk time’, and in the end he dismissively tells boughey to ‘wrap it up for us brother’ and walks out of the frame. ouch boughey, that must’ve hurt!
but that’s labine for you, he will talk over you, he will talk down to you, and he will just talk talk talk, as if ‘talking’ makes him ‘right’.
when onecoin crashes, which it surely will as any ponzi/pyramid does, i wonder how labine will talk talk talk his way out of the mess he has helped create.
Links to 9 finnish newspapers which run the story by STT – a major finnish news agency, about OneCoin being a shady business, Ruja being a convicted fraudster in Germany, onecoiners having connections to biggest scam ever in Finland (Wincapita), onecoin scammer trying to persuade people to sell their investment apartment in order to put the money into OneCoin instead. KRP (National Bureau of Investigation) warning people that they should not put their money to shady businesses like OneCoin.
talouselama.fi/uutiset/uusi-bittivaluutta-herattaa-kysymyksia-perustajalla-petostuomio-6571908
aamulehti.fi/kotimaa/uusi-virtuaalivaluutta-lupaa-suuria-tuottoja-mukana-olevilla-petostuomioita-ja-wincapita-yhteyksia/
ts.fi/uutiset/kotimaa/2741104/Uusi+virtuaalivaluutta+lupaa+suuria+mutta+herattaa+kysymyksia
kaleva.fi/uutiset/kotimaa/uusi-virtuaalivaluutta-lupaa-suuria-krp-kehottaa-varovaisuuteen/734974/
savonsanomat.fi/kotimaa/Uuden-virtuaalivaluutan-taustatiimill%C3%A4-Wincapita-yhteyksi%C3%A4-ja-petostuomioita/813727
kainuunsanomat.fi/kainuun-sanomat/talous/uusi-virtuaalivaluutta-lupaa-suuria-mutta-herattaa-kysymyksia/
ess.fi/uutiset/kotimaa/art2291676
karjalainen.fi/uutiset/uutis-alueet/kotimaa/item/112732-uusi-virtuaalivaluutta-lupaa-suuria-mutta-herattaa-kysymyksia
sss.fi/2016/08/uusi-virtuaalivaluutta-lupaa-suuria-mutta-herattaa-kysymyksia/
in a onelife newsletter dated aug 1, 2016, it was announced:
i had contacted the blue dragon children’s foundation, vietnam, to inquire about their ‘partnership’ with onecoin/onelife.
they have written back asking for more information which i have provided. here’s hoping they will conduct their own due diligence and sever ties with onecoin/onelife.
onecoin tries to pretend legitimacy by associating with established organisations, like ‘seva canada’ and ‘mastercard’ in the past. on receiving information about the onecoin scam, seva canada and mastercard dropped onecoin like a hot potato.
it will be helpful if others too write in to blue dragon children’s foundation with information about this scam.
the contact info can be found on their website at bluedragon.org/contact-us/
@anjali
This reminds me! I provided similar evidence to OneWorldFoundation’s (OWF) “Partner” – “Pencils of Promise,” some months back.
I had forgotten to follow up for a statement, but they stated that there was never any official “partnership,” and have since been removed from OWF’s website.
At the time I believe there erected maybe 3 (?) of OWF’s “partners” who we unaware of said “partnership,” and have since been deleted from the site.
Unfortunately, many of the “partners” had no easily recognized English speaking affiliates or representatives, but it seems that all who had any office or branch in the US are no longer affiliated.
After this weekend I will try following up to confirm this, as I have taken screen captures of their “partners” and will see how many still stand, or have been mysteriously ‘replaced.’
The “One World Foundation” would be an excellent “charity” avenue for any followers here which do not have time to perform broad inquiries to focus on.
If media attention were drawn, even specifically, to OWF (by individuals or teams who could focus on a single or a few ACTUAL charities; to find out details of OWF’s minimal and lackadaisical “partnerships,” than we could attack the scam on all fronts – PROVING that OWF was ONLY created to lend credibility to the bigger scam: Onecoin/ OneLife)
I am HOPING that BMLM and the crypto-community may figure out a sort of “Guerilla/ Organic ‘Task List'” and PROTOCOL on how to determine, prove and widely ‘publicize’ and distribute egregious incongruencies, embellishments, falsehoods and outright lies amongst claims of affiliate and “partnership” relationships which either do not exist whatsoever, or are rambunctious enough to call into question the core claims being asserted by such SCAMS, as Onecoin/OneLife are perpetuating.
In my opinion, BMLM’s work and efforts can be magnified via a joint effort within the digital currency space (ie., “nerds, accountants, bookworms and programmers”) who would support a joint effort PROTOCOL and effort to establish outlines, guidelines, checklists and “red flag” increments (even via a “point voting system/ reputation platform”) that could query bullet-point issues resulting in “levels of seriousness/ ‘alarm'”
Such a system might be implemented via both factual overviews (such as what Oz presently is very good at), plus audience feedback (ie, “reputation mechanisms).
Being that “good players” in the Cryptocurrency space are familiar with “predictive markets,” such as Augur, etc., but we would need propose actual “voting mechanisms” – which carry reputation based “clout.”
Probably not something which will be immediately addressed. However, with the pervasiveness of new Ponzi Scams trending on cryptocurrency, do not be surprised if a computer scientist/ nerd approaches you (us) and comes up with an interesting table or algorithm to run these scams through, which could end up being some NEW STANDARD.
(End of rant)
A fun fact about the on going Onecoin tour in U.K. with Ken Labine, Dr Parwiz Daud, Mansour Tawafi and Joby Boughey.
Mr Parwiz Daud presents himself as a doctor and claims to work in the Leicester General Hospital. In fact there’s no licensed doctor in the whole U.K. by the name of Parwiz Daud.
The hospital was also contacted and there’s no one named Parwiz Daud in their staff:
murobbs.muropaketti.com/posts/1717674706/
Here’s Parwiz Daud in Facebook:
facebook.com/parwiz.daud
Joby Boughey lol……when you can’t get your other scamming cronies from banners broker, my advertising pays, or imarketslive scams, like septic simon stepsys to join this, it must reeeeeally be a scam.
FWIW, here’s estimated costs to support a kid in Vietnam from a recognized charity, not some bogus foundation. It’s only a few hundred dollars per year, as low as 2-400 for really young kids.
cef-vietnam-usa.org/faq.html
Basically, even if they did it, it’s a drop in the ocean for PR value, nothing more.
The following message was posted to (one of) “Ruja Ignatova’s” Facebook pages 23 hours ago:
HERE are photos of the screen capture below:
1/2: pinterest.com/pin/184506915963585704/
2/2: pinterest.com/pin/184506915963585707/
i agree. ruja ignatova’s ‘charity’ is very very stingy.
for a few hundred dollars she can claim ‘partnership’ with the blue dragon foundation.
then she can go to say, india or malayasia and tie up with a charity there on the basis of her relationship with blue dragon, vietnam.
at least locally, investors in vietnam and say, india or malaysia, will be impressed by the fact that onecoin is in ‘partnership’ with a local charity. this increases onecoins ‘legitimacy’ in their eyes.
so however small, it may be worthwhile to expose the onecoin scam to these charitable organizations, so that ruja cannot build an ‘impressive list’ of her charity ‘partnerships’.
Just received this in my inbox after posting below the gentleman’s comment:
the contract between IMA’s and onecoin states that IMA’s are purchasing educational packages. they get the tokens [which can be mined into onecoin] for ‘free’.
so, how many coins ruja mines is her own prerogative, and IMA’s have to shut up since she’s doing them a ‘favor’ by giving them any tokens at all.
plus, where do you litigate against onecoin? which is the proper jurisdiction?
the only hope investors can have is that regulators stop the scam, and try to pay back net losers with whatever money they can get their hands on.
but seeing that onecoin is spread over so many countries and is probably registered in some offshore haven, this will be a very complex operation which can take a lot of time.
going viral on social media against onecoin ‘could’ help, but rujamama is pretty thick skinned, so cant be too sure of this method either.
@Tim Tayshun @Lambo Bo
I hope this guy report to Bulgarian Interpol (dies he live there?)even though Bulgaria is a very corrupt country.
I think he hardly gets his money back. Me as well had a mail conversation with admin OC back in March 2016.
I joined OC for a year. Ni sponsoring. No problems selling coins but early 2016 Stop! Expired expired…
Saw the ponzi scheme clearly.
“I want my money back at least what I have invested.”
“No,it is against the policy of the company”
“Then I want. You to shut down my account”
“No,it is against…”
“I demand You shut my account down here and now.”
Half a second it was done. The money I could be without. Not that much. Relief. No ponzi for me.
I find it most important that everything that has to do with Oc comes up no matter what. Start Reporting!
Many of us have reported loads to Swedish Finnish Police Interpol Europol well you name it.
Unfortunately it takes to long before Authorities start acting. If? Will they?
Good luck Lambo bo.
Hi, I am from Indonesia and I was worried as this scam has started brainwashing clueless people in the island i reside; Bali. In fact, my friend borrowed money from his relative to join the package of 5500 Euros. Ridiculous!!
It’s very obvious and blatant that this is a scam and I will strongly suggest everyone not to even think of “investing” in this.
I was invited by a friend to attend the seminar a month ago and as I knew nothing about cryptocurrency, I asked stuffs like what is mining? what is difficulty ?what is it based on? and the answers were so vague and of no basis.
The only thing they emphasized is the HIGH RETURN and this is spreading really fast as I am aware that they hold another small seminar again tomorrow , this is implicitly a malicious act!
@Tim Tayshun @Lambo bo
PS.You can
also report to Interpol Headquarter i n Lyon France
DS.
My understanding has always been that members of the public cannot report anything directly to Interpol.
This is confirmed by interpol.int/FAQs
Interpol is not a Worldwide Police Force, it’s more of an international co-ordinating agency.
First stop for any scam reporting should be your local police or, even better in some circumstances, Trading Standards Office or similar.
@tmfp
That is correct! But it has not stopped me from mailing the G.Secretariat among other locals.
interpol.int/Contact-INTERPOL
Comparison between YoCoin and OneCoin (OneLife) – lack of liquidity with only $29,000 in volume.
Today, the price of YoCoin dropped back below 15 cents.
Yocoin (YOC)$ 0.147362 (-2.53 %) on $29,000 in volume (past 24 hours)
This is why Ruja holds on tight to her (worthless) OneCoins. (see complaints on company Facebook page where sell orders are not completed)
The simple laws of “supply and demand” would destroy the “real value” of her monopoly money ponzi scheme coin immediately.
Even hardened ponzi schemers like Tom McMurrain, Kevin Foster and Ken Labine would agree with this observation.
I personally believe the end is near for OneCoin, especially here in the USA.
Let the lawsuits fly! And when the Investors here in the USA finally realize they’ve been “had” (instead of getting rich) they most assuredly will go after the so-called “winners/sellers” I’ve seen this bad movie play out dozens of times before.
For example, ever watch an episode of American Greed where the Investors claim the Ponzi Schemer was:
Such a nice guy.
He was like family.
I trust him.
My friends were making easy money so I figured I’d get in on it too.
Advice to OneCoin investors: If someone says you can get rich by sending your hard-earned money to Bulgaria or Romania (without any access or tracking)……..RUN!
When will Tom McMurrain, Carl Wilt, Ken Labine, Kevin Foster, Sarah McGee and others finally tell the truth about OneCoin/OneLife NOT EVEN BEING REGISTERED to do business here in the USA? One word comes to mind: hypocrisy
It doesn’t matter – the truth will soon be readily available in print and digital news sources throughout the USA.
in a corporate webinar on 11th, august, 2016, paul smith announced that the two new packages of euro 7500 and euro 118000, will have ‘the highest priority trading rights’ in the internal trading practice platform [ie xcoinx.com].
i thought ‘trading’ is on a first come first serve basis? how can someone have ‘higher priority’ in trading?
so basically, onecoin is saying that if affiliates purchase these two new packages, their coins will be converted to cash faster on the fake internal onecoin trading platform.
it also confirms once again, that onecoin management controls this fake exchange and decides who’s coins to encash and who’s not to.
One of Sarah McGee’s downline told me that she has tried to contact her telling her that she wants out.
She knows Sarah prior to this Onecoin debacle, and said that she is even ‘worried’ about her, to some extent, recognizing that she is clearly breaking the law.
While she was “active,” (and when she knew her from other circles) this person had no problem getting her on the horn, but now, she is impossible to reach.
She has raised legitimate concerns, such as the increased withdraw fee, which has DOUBLED from 15€ to 30€, and is seeking answers to Ruja’s recent FRAUD CONVICTION in German Courts (for embezzling money and 23 other charges, including improper accounting), which Ruja Ignatova plead GUILTY to in March (this was for the company her and her father, Plamen Ignatov, ran into the ground and bankrupted, Walterhoff Gusswerks GmBH). And Sarah will not return her messages.
Like many in her position, she is fearful of her Onecoin Benevolent Dictator FREEZING HER ACCOUNT, so is attempting to go about this questions inquiry diplomatically, but running into dead ends.
She claims that She has known Sarah “for a long time” and that while she describes Sarah as being a bit ‘ditzy,’ she is a great ‘talker.’
This person now KNOWS that Onecoin is a scam and totally violates SEC and MLM law in the U.S., , by the way. She also states that Sarah claims to now have over 10,000 people in her downline.
She said that Sarah has been busy spending her money as fast as possible, remodeling he house and has bought new car(s).
She said she seems to be liquidating the money as quickly as possible (and, of course, bragging about it in a “look at me and my success” kind of way.” The idea is that, “this can be you.”
I have tried to present Sarah with information that should concern her, but she kindly asked me to NEVER contact her again, and effectively “F-off” with my “hater” attitude.
Certainly the clawbacks that Sarah will face over the next several years will demonstrate that promoting an illegal MLM/Ponzi scam in the USA was …net worth it.
Correct?
QUESTION: Can Ponzi Pimps like Sarah, Ken Labine, Tom McMorron, and others stand to lose more than they gained? If they are only netting 6% of $100,000’s (or more) of total losses incurred by their down-lines, can they be held liable for the entire amounts? Or only the amounts they actually received as “profit?”
Serious question. How do AGGRESSIVE “clawbacks” work within the judicial system?
Is Labine (and others) liable only for their own net gains, or for total amounts that their victims contributed to the scam?
Either way, this shit is about to get really ugly, and may destroy some of our favorite Ponzi pimps, like Labine (who has a family to support).
Despite Labine being a total BRAINLESS IDIOT, who may or may not even know he is even involved in promoting an EPIC SCAM, there is obviously TOO MUCH evidence which any normal functioning member of society can claim “ignorance of.”
Will Labine see jail time? Will Sarah? What is repeat offender, Tom McMorron looking at, sentence-wise?
The regulators need to make an example out of OneCoin/OneLife (and the Top Ponzi Pimps) in an effort to stop the proliferation of crytocurrency ponzi schemes popping up everywhere.
In my opinion, since OneCoin is not “officially” doing business here in the USA, they will go after the Top Distributors this time around.
So, Tom McMurrain, Sarah McGee, Carl Wilt, Ken Labine and others are likely to “receive a visit” and have to answer for their participation in this obvious ponzi scheme. I list our favorite Canadian Con-Artist because of his high profile status and aggressive marketing tactics here in the USA.
I also believe the “investors” will turn on them too. As often happens with the ponzi schemes, a few of the leaders will agree to work with the regulators and provide “inside info” against the others.
It will be interesting to see who “turns” first.
And yes, it makes sense that civil and criminal charges await some of the top money grabbers.
Their GREED will put them in a place where the sun seldom shines – jail.
Stay tuned…..
Ruja is on her way to Mexico in September 9th.
Two swedish events were planned here but they are removed. The two swedish topleaders Nilsenius and Tavakoli stick to Norway…
onelifeevents.eu/en/
By the way, one of the worst $4million Juha Parhiala this former Swede is a citizen of The United Arab Emerates since April 19 2016.
Early bird Sebastian Greenwood also former Swede is a citizen of???? Anyone knows?
I really hope this ends soon. They are also spreading in Latin America.
I don’t know if the guy who tried to recruit me is a con artist or naive. They all say the same things.
Rumour going around is that Irina Dilkinska, Onecoin’s “Head of Legal and Compliance” has left Onecoin and skipped town – for reasons of impending prosecution.
Do we have any “insiders” following this who are trapped in the Onecoin quagmire who may be able to confirm or deny this claim?
On a side note, such a prominent figure in the Onecoin/ OneLife “5+ Billion Dollar Company, which has grown bigger and faster than Apple, *RedTube, etc.,” (*sarcasm) seems to have completely eliminated her name from LinkedIn and online, altogether.
For such a large and growing company, is it
a.) a coincidence that Irina has “disappeared” her glorious affiliation and accomplishments tied to the “#1 growth company in all of MLM,” and
b.) is this common for persons involved in such an amazing “growth company,” and
c.) can anyone confirm that Irina “has left the building” (AKA: “gone into hiding”)?
This seems to be a tributary which could lend validation to one, Angelina Lazar’s posts, alluding to a recent “raid” (or something of the sorts) on Onecoin/ OneLife offices/ major co-conspirators persons.
A second or third confirmation that Irina Dilkinska has taken her bag of money and left would strongly suggest “big trouble in paradise!”
Can anyone confirm whether Irina is a real person?
Probably as real as William Shakespeare.
@Mr. Ponzi Scheme
I can confirm that the person who went by that name exists and is real and has attended meetings in Dubai and elsewhere.
However, i never thought about it but, true, I cannot confirm if that is her actual name and identity by birth.
Interesting point, by the way!
uh, i would think twice before taking lazar’s posts seriously.
her recent conspiracy theory post about joe biden and the CIA and a serbian minister and herself and her partner [about onecoin], is seriously ‘out there’ in cuckoo land.
other posts, like the one comparing hillary clinton and ruja ignatova and calling them lesbians and witches etc seriously dent her credibility and makes one wonder if she um, ‘needs help’.
At least there’s someone by her name and skills (“legal adviser”):
upwork.com/o/profiles/users/_~015ab39d7058e8380f/
The director of this company is probably the same Irina Dilkinska:
beta.companieshouse.gov.uk/officers/mGPbqZfj0v-OEfD7pd7VH-g8XeQ/appointments
@Onecapita – good find. A few clicks away lead to a page showing this:
SEE: tinyurl.com/heeyemp
and underneath that shows her appointment one week prior to Onecoin’s big London CoinRush Event
28 Jun 2016 Appointment of Ms Irina Andreeva Dilkinska as a director on 3 June 2016
If this is the same “Irina Dilkinska,” why would she presumably leave a cush position at “the #1 fastest growing company in the history of the world,” or at least, why would she seek secondary employment?
The Hypocrisy of OneCoin Pimps like Kevin Foster
Kevin Foster FB Post:
His solution? Convince his friends, family and social media contacts to send their hard earned money to Bulgaria! 🙂
So, in his post, he’s actually praying to God that more friends, family members and social media contacts succumb to his “plead for greed” pitch and invest in a company that is not even REGISTERED to do business in the USA.
Of course, as his marks say goodbye to their money, Kevin Foster gets his 10% right off the top.
Glenn Smith, another OneCoin pimp, doesn’t even try and hide his motives. Check out this recent post on his FB page:
While Kevin Foster and Glenn Smith use different styles and approaches, the results are identical:
Gimme Your Money NOW Sucker!
s601.photobucket.com/user/nakaryah/media/WolfInShepherdsClothing.jpg.html
haha 🙂 🙂 oneworldfoundation.eu, onecoin’s ‘charity’ arm which ruja hopes will buy some ‘legitimacy’ for her ponzi scam, has removed any mention of the blue dragon children’s foundation, vietnam, from it’s website.
can someone please recheck the oneworldfoundation.eu website to make sure i haven’t missed it?
so people, if you have some time to spare, it is worth writing in to all the charity organisations that ruja ignatova has ‘partnered’ with, so that they give her and her scam a boot, the same way that banks keep kicking her ass out the door!
@Anjali – RE: Recheck
Sadly it is still there
SEE: pin.it/Gnnf-1J
But don’t stop! I did the same thing for the charity organization “Pencils of Promise.”
Here is OWF screen capture with them listed as a “Partner”:
SEE: pin.it/wJsAWHe
When I spoke with the Assistant Director a couple months back, she started that they were NOT “partners” with OWF, as OWF had not even made a donation at that time.
I was told that Pencils of Promise had recently had an inquiry of some sort of grant from OWF, but neither had any grant been fulfilled nor had there been any discussion whatsoever about onboarding their PoP logos onto OWF web page in some kind of “partnership.”
I believe The Foundation of the First President of the Republic of Kazakhstan was another “Partner” which had OWF remove them.
SEE: pin.it/9VspYDe
As some of us recall, Behind MLM first published a story about Ruja’s fraud charity front claiming partnership with Seva Canada (to help certain blind kids to have their) on June 20, 2015.
As you would guys, the claims were false and Seva Canada went so far as to post directly on their website: “Please note: Seva Canada has no current relationship with One World Foundation or Onecoin.”
Yes, I can! I worked for them (I know her personally!). She is a real person and that’s her real name.
Yes, it is her!
I managed to find her Facebook page as well but it hasn’t got much in it: facebook.com/irina.dilkinska
– Either she doesn’t use much Facebook or it’s set to private.
You will never find much information about the people involved in this scheme. I was really surprised by the complete lack of transparency, especially given the fact that they claim to be a cryptocurrency.
the website oneworldfoundation.eu does not have any mention of the blue dragon foundation, vietnam, anymore.
an old link on the one world foundation FB page about onecoin partnering with the the blue dragon foundation, leads to another charity organization in vietnam.
so, onecoin and blue dragon seem to have broken up!
@Anjali – a ScamBuster who has been following the Onecoin/ One World Foundation fraud posted this response to my comment regarding Pencils of Promise being taken off the OWF PAGE
The most pressing question, obviously, is what the hell does a “generous donation of 500,000 Onecoin” even mean?!?!?
According to Onecoin, it would be the equivalent donation of $3.5MM. Yet, if Ruja herself valued 1,160 Onecoin at exactly 550€ for the OneLife tablet, what amount of REAL MONEY was actually “donated to charity?”
MORE SIGNIFICANTLY, AND PERHAPS LEGALLY, if 500,000 OC were announced publicly to the world (or affiliates) to have been moved from Senastian, Juha and Mr. Vincent Ta’s account to OWF’s “charity fund,” would the charity have legal fiduciary responsibility to “exchange the *currency immediately into fiat, in order to put it to use, within a reasonable period of time, in order to fund some of its charitable operations? (I think there could be a story here!)
Two of the largest charitable organizations in the world, The American Red Cross, and The United Way, both accept bitcoin. However, since charities are not typically in the business of “speculating,” as far as I know, both use the BitPay platform to handle their merchant transactions.
BitPay, as the largest, and one of the few Merchant Services Processors, exchanges currency from bitcoin to fiat for a 1% fee (possibly less for registered 501 c3 charities).
This cuts 2/3 off of many major credit card processors, like VISA, MasterCard, etc. If $100 is donated, the charity receives at least $99 (less a small $0.15 ACH transfer fee imposed by the banks to make the final deposit into the account holder’s bank account).
Furthermore, despite how Ruja’s misleading statements about merchants absorbing any losses due to bitcoin volatility between the time BTC is exchanged for USD, EURO, Rubles, etc., BitPay guarantees the amount paid will be the amount received (less 1% and $0.15 3rd party ACH bank fee).
At what rate of exchange did 500,000 Onecoin become exchanged for charitable causes? How was that exchange facilitated? What was the transaction fee in relation to the promoted “Price(value)” of the 500,000 OC, and whom was the recipient?
Certainly earthquake victims in Italy or blond kids in Canada can’t do anything with 500,000 OC! Where did it go? Why was this not promoted more? And why does it not even show up on their own OWF “donations page?!?!?”
Would this be considered criminal? Thoughts, anyone?
Ps. That last comment and supposition was extracted from this page, which has many, many great introspects and publishing on the Onecoin scam, which Ari Widdell has been diligently following and giving us his introspect on.
kusetukset.blogspot.com/2016/08/onecoinonelife-one-world-foundation.html
I think it’s safe to assume that 500k onecoin donation was never actually done. OWF can’t do a thing with onecoins so that donation is a (sick inside) joke.
I guess they just wanted to show how warmhearted people those top leaders are and at the same time they were promoting One World Foundation. Most of the true believers of Onecoin think of Ruja as a some kind of Mother Teresa who wants to wipe out poverty and while doing so make everyone a millionaire.
Looks like OWF can’t do charity that exceeds a limit that’s considered money laundering:
oneworldfoundation.eu/en/applyforgrant
Is this a common practise to charity organisations? I don’t know but 3000 euros doesn’t sound a lot for a believable charity organisation.
Are they going to send 3000 euros to help the victims of the earthquake in Italy?
@Onecapita – OWF was trying to receive donations to THEMSELVES rather than DIRECTLY to organizations on the ground in Italy, as shown HERE:
kusetukset.blogspot.com/2016/08/onecoinonelife-one-world-foundation.html?showComment=1472190321212#c6371188069828946473
Would be interesting to know if any Onecoiners actually replied to that post by sending a donation, and what became of that “donation.”
RE: “Most of the true believers of Onecoin think of Ruja as a some kind of Mother Teresa…”
pinterest.com/pin/184506915963704194/
QUOTE: “please dont say bad about dr ruja she is our goddess” – “Dr.” Mohammed Zafar (fastest Blue Diamond)
Pictured HERE with Ruja: pinterest.com/pin/184506915963687645/
I’ll be publishing more of this conversation via screen capture in which I am offered a BRIBE to, “just dont write anything (else) about onecoin.”