OneCoin lose Singapore UOB account, only Bank of Africa left
It’s looking like OneCoin’s banking roulette may be coming to an end, with news today they’ve lost their Singapore United Overseas Bank account.
I initially thought OneCoin had lost their UOB account a few days ago along with their newly opened Cyprus account. Turns out while one of their accounts was frozen, OneCoin opened up a new account under a different shell company name.
The account, opened up under “Vernada Trading Pte. Ltd”, was removed from the OneCoin affiliate backoffice sometime over the last 24 hours.
The original account, opened up under “International Marketing Services Pte. Ltd”, is believed to have been frozen following an investor alert issued by the Monetary Authority of Singapore.
Whether the Vernada Trading account was also shut down or instead terminated is unclear.
As it stands, OneCoin has one bank account left with Bank of Africa in Tanzania. The account was opened using the shell company “IMS Marketing Tanzania Limited”.
The account has remained open for some time, suggesting Bank of Africa aren’t concerned OneCoin is using it to launder stolen Ponzi funds through.
If Bank of Tanzania were to investigate and close down OneCoin’s account, how newly recruited affiliates would deposit funds into the scheme is unknown. OneCoin currently accepts bitcoin as a form of payment but bank wire is by far the more popular option.
In related news the internal OneCoin exchange has been down for over a month. A few days ago the company announced it was moving the exchange to a separate domain, xCoinx.
xCoinx was initially touted as a public exchange but is infact owned and operated by OneCoin. The domain was abandoned following a decision to keep the internal exchange in the OneCoin affiliate backoffice.
Whether the recent spate of bank account closures is behind OneCoin disabling access to the internal exchange is unclear.
Very great. They destroy them selfs 😀
this is really cool news. ari widell of kusetukset.blogspot has really put in a commendable effort in getting onecoin bank accounts shut down one by one.
it’s a bit strange that onecoin affiliates barely talk about their banking problems on facebook. i suspect top affiliates are buying gift codes using their own onecoins and selling these gift codes locally for cash.
i have submitted a complaint to the bank of africa, tanzania at:
if they receive many complaints they may investigate and be pressured to shut down onecoin’s ponzi account.
i will post a complaint to them every day for the next few days. it just takes a couple of minutes.
i think i read somewhere a few days ago that bitcoin is no longer a payment option?
can someone with access to the affiliate backoffice check this out?
News to me if they’ve quietly stopped accepting it.
I checked the back office and Bitcoin is still an option there.
Why they should stop bitcoin? A wallet can not closed so easily! Its nothing better to get from stupid customers this nice Bitcoin 🙂
Bitcoin payment is still possible.
Methods available at the moment are:
– OnePay
– Bank Wire
– Perfect Money
– Cash Account
– OneCoin Account
– Bitcoin
– China Union Pay
OneCoin payment methods 10th November 2016.
It could be that the company starts using the Perfect Money -service more. It’s a popular service among scam schemes.
Bank of Africa Tanzania:
Customer Service: boatanzania.com/page/contact-us
Complaints: boatanzania.com/clients/complaints
Let’s do it!
I wonder: I could buy a gift code with OneCoins, use it to get tokens and “mine” the tokens to OneCoins.
Do I end up with more OneCoins than I had to begin with? Could iterate this to create infinite OneCoins?
xcoinx is online now.
No, you will have much less OneCoins in this case.
For example, if you get 5500€ Tycoon Trader with OneCoins, it will cost 11 000 OneCoins. Rate whe paying is 1 onecoin=0.5€. So with Tycoon, you get 60 000 tokens and 2 splits. After 2 splits you will have 240 000 tokens. But now is the 4x supersplit promo, so you will end up with 480 000 tokens.
This will “mine” for you with 70 difficulty 6857 OneCoins.
So you need to use 11 000 OneCoins in order to get a package which generates 6857 OneCoins.
I’m OneCoin member I got OneCoin I’m trying to sell.but I couldn’t sell any coins.whats the points gaven to people can sell sale the coins.
Oh wait.. Gift code shop says Supreme package costs 376 000 onecoins, and it gives 1 888 888 tokens with 7 splits where 1 is superslit. So you will end up with 483 555 328 tokens which give with 70 difficulty, 6 907 933 onecoins.
However the difficulty raises, so it won’t be quite as many onecoins, but still probably much more than the 376 000 you actually used.
So yeah, I think you can iterate and become a multi-billionaire and the world’s richest man with this method. 😀
Funny. Xcoinx, “an independent Exchange,” while hashing been offline for 6 weeks now and having NEVER functioned, does not allow new users to “sign up” or “create an account” in order to use their platform. It is interestingly restrictive to only allow “log in.”
How one might otherwise use this “independent Exchange” of not already a OneCoin victim appears to be unanswered.
There was 1 split too much.
So that is 241 777 664 tokens which would be with 70 difficulty 3.45 million coins. Still much more than the 376 000 coins which this package costs.
Great exchange, you can only sell 1 onecoin at a time!?!?
Put 2 to the Ask quantity field, click “place order”.
It will say the quantity needs to be 1. 😀 😀 😀
I’m sure onecoiners are very happy that they can only sell 1 onecoin at a time. LOL
I must admit, the xcoinx.com homepage is a nice “façade”. Unfortunately the first thing I saw after I tried to log in was this error message (URL = xcoinx.com/en/terms-and-conditions ):
I’m ALMOST prepared to spend EUR 140 to be able to explore this system from inside (money I will never get back, but that would be fine). However, it’s against my principles to finance criminals, so I’m in a dilemma right now.
XcoinX works fine now. I’ve logged in and can exchange Onecoin with Euro. You lose, Tim and Oz
a commentator ‘yoakim’ has posted this on murrobs.muropaketti:
Kolikoita on näemmä pakko ostaa kerralla vähintään 10, mutta myydä ei tartte kuin yksi kerrallaan. Sisäänkirjautuminen ei ole vielä onnistunut. Ilmeisesti käyttäjätilejä ei ole vielä kytketty tuohon sivustoon, koska väittää omaakin tunnusta olemattomaksi.
google translates this as:
i’m taking this to mean affiliates are not able to log in and their backoffice onecoin account has not yet been linked to this new exchange website?
if affiliates are not able to transfer their coins to this new website they will not be able to encash their coins? so affiliates will probably not get paid for a while longer.
and yeah the website is crashing again and again!
OK, great, finally some sense of reality in the Terms and Conditions (my caps):
Its shame for a company to set a homepage unfinished online! Thats not professional!
MikeR! Did they told them, when you payout/sell, you have to pay taxes? (Like in EU). I dont think so ^^
@MikeR
I have a hat full of U/N and P/W’s people have given me in the past few weeks, so if you want some just email me: (Ozedit: removed)
The victims who gave me access already know the coins are useless, so free reign was granted (on condition of being prudent in not drawing too much attention to the accounts).
Now THIS sounds like a PERFECT REASON to raise a piss amongst OneCultists. Cult members are OBVIOUSLY going to bitch about this, which is the perfect strategy for Ruja, her mafia and all co-conspirators.
So, what will (or may) OC do? Well, hypothetically they COULD simply open up the flood-gates and allow all access trading, perhaps to coincide with the coming shut-down of the last and final Bank of Africa Tanzania.
So much mayhem would be taking place at once!
1.) 90% of victims trying desperately to sell, thus crashing the coin to ZERO w/in hours (at least they are already familiar with the hand sign)
2.) No cash to be extracted on “Happy Mondays” from any bank accounts, as the back office will be a frozen screen.
3.) AI bots to update FB accounts stating, “we are doing everything we can. but due to _______blah, blah, blah …COMING SOOOON!
4.) Meanwhile, Ruja and her renta-baby, Sebastian, Juha, etc., will have already boarded their plane(s) for Brazil and micronesia.
5.) Mass Panic
6.) Mass Hysterics
7.) Realization
8.) Mortification (calculation of massive losses and severe depression)
It must suck to be this naive to have it come down to this with all the warnings and red flags these oblivious, greedy bastards have all received by now!
If you want to buy the minimum is 10 ONECOIN! Makes perfect sense!?!? 😀
Doesn’t it? 😛
Joby Boughey has new video out showing how to buy coins in the new Xcoinx. “Surprisingly” he doesn’t show selling and says he doesn’t recommend selling coins. 😀
youtube.com/watch?v=bD5wn5C76fs
Well, it probably is that you can sell at a time as much onecoins as your daily euro limit says, just as it used to be. At least in one russian video this is implied although not really shown.
It would be just too crazy if the limit is just 1 onecoin. It says this probably just when not logged in and the system doesn’t know your daily limit.
Yeah, confirmed from another video that you can sell as many coins as is within your daily euro limit.
It just showed that max quantity 1 when you are not logged in.
@Orondo
Withdrawals remain disabled. Please don’t lie.
You can submit all the exchange requests you want, ain’t no withdrawals going through (other than a token amount).
And lose what? OneCoin is still a Ponzi scheme.
Funny part is, you can exchange coins for money and money for coins, but the price of 1coin is still the same (buying and selling price).
Oz, its true, you cant withdraw the money? Just exchange? Pretty odd.
I don’t understand the hype among onecoiners. The exchange is in practice the same. There is massive sell stress and inbalance between coin sell supply and buy demand.
Nothing has changed in this regards, except the domain host. It seems it is possible to make multiple sell orders per day, but within the day limit.
I would guess the mandatory network bonus account euros used for buying the coins are even less than before really available due to to bank account freezing. So it is just number play.
So even if it looks like you are able to sell something, the withdrawal is even more harder than before, most likely not working.
Withdrawal has been a problem now for months, and it’s only getting worse.
Yeah Tim and Oz, of course you are the ones who lost.. 😀
@Orando – in a single sentence I can tell you exactly why OneCon will fail/ collapse/ etc. anyway, regardless of the fact that it’s an obvious ponzi and pseudo crypto.
OneCULT is a COMPANY, without a single operating or regulatory (MSB/ MTL) license in ANY jurisdiction or territory anywhere in earth; which alleges to mint it’s own digital MONEY from thin air and sell it for paper money – which no government on earth would even conceivably allow.
What twisted logic could make OneCULTists believe any authority would possibly allow this in perpetuity???
Now add to that the criminal and scamming history of the founders, the missing blockchain, CTO & Dev Team, 20 OC bank accounts shut down, consistent misleading and deceptive announcements (and blatantly false media), and the fact that by definition it’s a hybrid pyramid/ ponzi scheme.
Care to tackle any of this?
A Onecoiner yesterday told me I’m “stupid for believing that decentralized cryptocurrencies are the future.” lol.
Just like the popular (and “illegal”) music file sharing giants Napster, Kaaza and LimeWire, which were CENTRALIZED, all authorities have to do is “locate the servers and pull the plug.” One-stop shopping.
BOOM! Game Over. Thanks for Playing.
😀 Ooops… and where did those coins come from if nobody’s selling…? 😉
I especially like the flatline chart.. Pretty interesting market they’ve got 😀
Not to f you ask Kenny what xcoinx is…
Our external exchange? What’s that supposed to mean? LOL 😀
From xcoinx Terms of Use:
So now the OneCoins are going to be transferred to a company in Seychelles. Are Seychelles known to be a tax heaven?
Yeah really external. You will need OneCoin account to log in and do anything..
Re: “Its our external exchange” – Labine
Oopsie. I think they made a boo boo. This “external exchange” is missing the requisite “sign up” page to open an account. Instead the ONLY option is to “log-in.” But wait. You can only LOG IN of you have a OneCoin login.
Hmmmmmm. Very “3rd Party.” Much “external.” So “independent.” Wow.
Status:pending LOL
imgur.com/a/96zFp
Basicaly is the same shit, different day.
Labine claims that Xcoinx is not owned by OneCoin because Terms and Conditions say the service is provided by CIH Central Limited.
Sure, that settles it. Cause it’s not that OneCoin uses shell companies for anyhing. Umm, wait..
Sure, it’s totally independent 3rd party external site, except it’s 100% integrated to OneCoin system and needs OneCoin account in order to operate.
But otherwise it’s totally independent 3rd party external exchange. 😀
Old Ken is still trying to stick to his claims that xcoinx isn’t owned by OneCoin.
Instead, he’s trying to claim that CIH Central Limited must own it because of the line in the TOU which states:
WTF is CIH Central Limited, lol? Is that another fake OC company?
Not much of a digital footprint for a digital company.
I don’t know how f-king stupid these OneCoin reps think people are.
Totally OneCoin integrated, has to be used only with OneCoin account. And it’s claimed with clear eyes that yeees, this is totally external exchange, not owned by OneCoin.
Like OneCoin would let the trading on the mercy of some 3rd party. How surprising that this 3rd party implements the same daily trading limits. What a conincidence.
How fking stupid Labine is, and the people who believe him and his scammer friends. Unbelievable, the stupidity of these scammers just hurt my brain.
What else it is than another of the dozens shell companies of OneCoin, located in Seychelles tax haven.
@butter
Yes Seychelles is a haven for money laundring!
Setting up a bank account or company in taxhaven Seychelles is hasslefree and secure.So what about the CIHCentral ltd?
taxhavens.biz/other_tax_havens/tax_haven_seychelles/
Appears to be a fictitious company.
eservice.egov.sc/BizRegistration/WebSearchBusiness.aspx
Tried variations and parts of the name. Nothing.
My previous link to Seychelles company search won’t work with https prefix.
nolink://https://eservice.egov.sc/BizRegistration/WebSearchBusiness.aspx
ed ludbrook of onecoin [i don’t know if he holds a corporate position anymore] has uploaded a video a few hours ago, gushing about trump being elected president of the US and how that’s soooooo good for onecoin.
see if this makes sense – um, trump is president of USA and the dollar is the global reserve currency and onecoin wants to be the global reserve economy, and so trump becoming president is good for onecoin!! eh?
and something about people getting empowered and the atmosphere being ‘strategic’ for onecoin’s growth.
and something about various countries [russia , japan, china etc] not promoting onecoin but letting them do what they do, because of ‘strategic’ changes.
for the life of me i cant understand what this bumbling idiot is blabbering about!
i think what he is actually trying to convey is – with trump in the white house ponzi schemes can crawl out of their holes and play! trump is the ponzi president of the world!
Edward hartelt, Moyen Islam, Jose Gordo and Marian Lopez dewaard.. Those stupid Leaders will come to Morocco To steal more money.. see the pic: img15.hostingpics.net/pics/29324214925583102109502184083495974010188537637355n.jpg
They are still spreading the illusion.
It seems that the Arab media is weak and is not competent to defame erect these alleged the company … greed recipe dragging their minds into the abyss ….
Sometimes it’s interesting to go back a year in time and see what’s been claimed, what’s new, and what promises or projects have “come to fruition.”
On that front, let’s take a journey back inn time in which CoinTelegraph was still a semi-respectable news media source in the cryptocurrency world:
cointelegraph.com/news/onecoin-a-voice-from-inside-is-there-underground-circles-in-bulgaria
Does anyone know what ever happened to “Aurum Gold Coin,” whom OneCon had “partnered with” to back their “asset” by one gram of “pure 99.9999% pure gold?” (notice the extra “9” in “.xxx9” – lol)
Aurum Gold Coin seems to have fallen off the face of the map. While OneCULT is no longer “promoting” it, it does appear to still show up in their back office.
Dies anyone have any introspective on this?
Since victims of onecoin can transfer coins from onelife to xcoinc their imaginary blockchain should show more than 1 transactions shouldn’t it?
Can anyone confirm if the blocks show more than 1 tx?
I mean if xcoinx is truly an external exchange (I think it’s not) and if onecoin is truly a cc (which I think is not) then moving coins from OL to xcoinx NEEDS transactions
It has shown more than 1 transactions since the “new blockchain”.
They made some adjustments due to the critique regarding how the old “blockchain” was only showing 1 transaction and a counter counting backwards until block was “mined” (now it counts forward) etc. In order that someone might think it’s a real blockchain now.
It shows now on average maybe 15 transactions per block. This didn’t change anywhere after introducing Xcoinx.
Lol now some other Canadian OneCoin IMA hypes on Labine’s Facebook that “Congrats to all One Life Network. This is a great move to be really honest, we gone public.”
And now this according to Labine “external exchange not owned by OneCoin”, has closed down for the weekend, just as before when it was in BackOffice. What a conincidence.
FACEPALM ALERT !!
This message was sent by someone:
My Response immediately was:
Can you ask why the accounts were in the names of ‘IMS marketing Services Ltd’, ‘Educamax Ltd’ and even ‘China Imports and Exports Ltd’? None of these mention onecoin or anything to do with cryptocurrency.
Can you ask why one account was even shut down within 48 hrs? Doubt they would have maxed out in 48 hrs
Can we see certified accounts to prove a billion dollars revenue?
Why is it that they get shut down after they get reported to the authorities of the countries in which the banks have been set up?
@Raf
Comedy gold right there. They even explicitly say not to mention onecoin and cryptocurrencies in payment. Sounds legit.
You could just point them to something like this: image.guardian.co.uk/sys-files/Guardian/documents/2009/03/24/BIGGEST_BANKS2.pdf
Top 50 banks by assets, the smallest of that top 50 has over 400bn, the biggest 3.8trn. I somehow doubt one coins banking would be problematic to any of them in terms of value or % of assets.
Hmm, I guess OC’s claims about their bank accounts means that Microsoft, Apple, GM, GE, WalMart, Goodyear, Target, etc., etc. are only about 1/10 the size of OC; since they don’t keep shutting down accounts and opening new ones like OC.
My response would have been 2 questions.
1. If OneLife was such an intelligent business, why would they have their money in an account at a bank? Intelligent people/businesses would invest their funds and earn larger returns. For example, OneLife could buy a bunch of Onecoins and quadruple their assets.
2. What does a cryptocurrency do with funds in a bank account?
@Lyndell
Apple released their most recent quarterly earnings. They’re grossing $100 million in sales (on actual product, of course) …A DAY!
But that’s “cute” compared to OneCULT, apparently. OneCon mints 72,000,000 “coins” a day “valued at” €6.95 each, which is 100,000 coins every 2 minutes worth €695,000, or a bit over €500,000,000 daily. Aka: 5x the gross profit Apple reports.
Just LOL.
muhammad zafar held a recruitment event in london yesterday along with chris principe and florian andris.
anyways, before the event these fellows held a live FB call during which an affiliate clearly indicated funds were Blocked [frozen] in the singapore account.
zafar’s response to this^^ question was that the affiliate should contact customer support at onelife, to which the affiliate responded:
zafar started to read the affiliates response^^ out aloud, realized it was trouble, and immediately changed the topic!
another affiliate complained about sending funds to cyprus and not getting his package in return. this suggests funds are Blocked [frozen] in cyprus too.
i wonder how much funds are frozen in bank accounts which have been closed one after the other? no wonder there are so many payment complaints from affiliates!
another affiliate asked:
as far as i can tell this^^ question was not responded to [the live call recording is 2 hrs of bullcrap. going by the timestamp of the question i tried to locate the response in the video but couldn’t locate it]
someone asked;
chris principe who claims to be a financial expert answered that if a manufacturer makes glasses worth $1 each, if he goes public the price of the glass wont change. similarly by going public onecoin’s value wont change!
a onecoin is more comparable to the ‘shares’ of the company which is going public and not to the product ie glass it manufactures. if there are too many shares or a sudden glut of shares in the market the price will crash similar to a onecoin.
zafar&co avoided any questions about xcoinx probably because explaining why shifting of the exchange from the back office to a website with the same sell limits has nothing to do with ‘onecoin going public’.
they were more concentrated on speaking about taking ‘action’ and getting two people and helping those two to get two more each and ‘rising’ by ‘helping’ others rise ie mostly recruitment crap.
a frustrated listener summed it up pretty aptly:
wrote in a fresh complaint to bank of africa tanzania at boatanzania.com/clients/complaints
@anjali, wow, Chris Principe said that? Link, please.
Principe also has a new publication called Fin Future. The first issue, which can only be purchased, has six individuals on the cover described as “movers of the financial future”. Ruja Ignatova is one of the six.
Then I found an article about the London police investigation, which was obviously sourced from CoinDesk: fin-future.com/2016/09/27/london-police-investigate-onecoin-cryptocurrency-scheme/
there is a recording of this FB live talk on zafar’s page:
facebook.com/muhammad.zafar.77736?fref=ts
principe talking about onecoin valuation is around the 1:33 mark
Thanks, you made my day!: 😀
Actually – like many Bitcoin businesses do, OneLife should do all the payouts in their own currency, not in euros. That way there wouldn’t be this annoying flee of money out from the Ponzi. 😉
in an FB post castigating oz and tim tayshun yesterday, joby boughey claimed;
most of the above named countries have issued warnings/started investigations into onecoin sometime in 2016 itself. regulatory investigations generally take a long time, especially where a business like onecoin is operated from bulgaria and works through a number of offshore shell companies.
AFAIK none of the above countries boughey names has stated that they have closed investigations into onecoin without any finding. none of the countries has withdrawn any warnings they have issued about onecoin.
so, what is boughey talking about?
germany:
germany’s Federal Financial Supervisory Authority (BaFin) is investigating OneCoin. pursuant to this the german banks commerzbank and duetche bank shut down onecoins accounts.
belgium:
the Financial Services and Markets Authority (FSMA) and the Bank of Belgium have together issued a warning against onecoin.
poland:
the National Prosecutor’s Office found after investigating OneCoin that there were potential breaches of “unfair market practices”. these findings were forwarded to the Office of Competition and Consumer Protection, who have since launched an official investigation.
finland:
the NBI (KRP), national bureau of investigation, continues to monitor OneCoin’s activities after forwarding the case to the prosecutors office. the NBI ran into problems because onecoin is operated from bulgaria but they have definitely NOT claimed that they did not find any problem with onecoin or cleared it in any way.
a TV program by finnish public national broadcasting company Yle (like BBC) recently [oct, 2016] exposed onecoin as a fraud:
youtube.com/watch?v=B4u3DtZITAE
sweden:
the swedish gaming board said:
‘We looked into the concept after getting tips that reminded us of a pyramid scheme or chain letter game.’
they have forwarded the matter for to the swedish police for investigation.
thailand:
IIRC there has been no investigation or clearance in thailand.
china: there were arrests of onecoin affiliates in china and coverage by chinese TV of the onecoin scam.
since then no onecoin leader has entered china and the china business is illegally run from hongkong under the radar.
vietnam:
just a week back the vietnamese press has exposed onecoin and the Ministry of Industry and Trade has forwarded the investigation to Ministry of Public Security.
philippines:
IIRC there is no investigation or clearance in philippines so far.
load of crock^^^^
the china union pay card is a prepaid debit card which is issued through a bank in georgia [europe].
getting a prepaid debit card from a merchant bank in georgia is pretty easy and has nothing to do with the chinese govt ‘approving’ onecoin.
a commentator on boughey’s FB page left a comment asking for an open discussion on his claim that countries had found no ‘problem’ with onecoin, but that comment was of course deleted.
joby boughey must show which country has cleared onecoin till now, or stop posting lies because he wants to continue scamming people out of their money.
This is patently false. Stopped reading here.
Joby has to lie. All these investigations are starting to take a toll on recruiting; just like all the closed bank accounts are having an effect on recruiting.
They lied about why they have had to close so many accounts, or the banks closed their account to try to make it sound like this is normal for a business like OC.
But then lying is what they have been doing since the launch of OC. It is all based on a lie…. every part of it.
Thankfully a lot of people are waking up before they get in, and this is why the lies will continue to get bigger and bigger and more outrageous. It’s all they know how to do.
When this goes down, all the major pimps will declare they were just an affiliate like everyone else, and they were lied and duped like everyone else.
If the authorities don’t act soon, Ruja and gang are going to run. The signs are already starting to show. Not much time is left.
Does anyone know what is the thing with Bank of Africa? It’s both the only remaining bank account OneCoin has and the most long lasting bank account they have.
And yet they always seem to have promoted other accounts over the Bank of Africa. Is it so that there are some daily limits on what OneCoin can withdraw from that account? (Oh the sweet irony that would be in such.)
You have to remember that OneCoin is “100 times larger and growing faster than Bitcoin, Microsoft, Apple and Facebook”: twitter.com/derosetech/status/753374737296949248
OneCoin’s last bank account is gone. No more Bank of Africa payment possible.
kusetukset.blogspot.se/2016/11/onecoin-ponzi-pyramid-crumbles.html
Great work guys !!!
Not that they need to steal anymore cash, but how does OC get their cut if people are now buying directly from their sponsor?
Same question for how upline would get it’s cut?
You are asking rhetorical questions. The upline is packing their bags already.
woohoo and wow.
the line – ..we wish all of you success on your lifelong path to education and a better future! – sounds very much like a farewell.
will ken labine go whoop!whoop! now?
I think, I cant find Ken Labines fb page. Am I doing something wrong, or he went private ?
his FB page is very much there with his most recent post abusing tim tayshun:
^^guess labine hasn’t received the memo yet that onecoin don’t have no bank account no more!! onecoin gone kaputtt …
Still there… facebook.com/KenLabine
Last visible post from Saturday ripping on Tim.
He’s been doing pretty well in his quest to ignore the “haters” for the most part though.
Sounds like that to me as well.
Sadly, the “education” that many will be receiving isn’t exactly what they were hoping for.
bye bye one coin…
I hope so reh, I hope so
the german publication ‘the merkle’ has an article dated 12 nov, about onecoin’s fake exchange xcoinx:
themerkle.com/the-only-exchange-trading-onecoin-does-not-even-allow-signups/
Well, on the bright side, I have a feeling that soon many of us will have a lot of extra free time on our hands. I may have to take a vacation soon 🙂
Thank God the victimization is finally drawing to a close.
I hope that very very good support groups are set up. I do NOT want to be one of the MANY here and elsewhere working on this who are right in our predictions about the extent of the repercussions from this fall out.
^^^THAT is unfortunately going to show how truly ugly and EVIL these F#@%’ng scams are :'(
In muroBBS there was a good question that is the payout bank account (i.e. The one where “sold” coins are credited as euros) same as these frozen bank accounts?
If not, they can keep up with the illusion of payouts. If it was the same, no money coming out from the Ponzi.
Latter case will crash the scam faster as the “investors” see that the money is no longer coming back.
Of course the final signal is when top leaders just mysteriously vanish overnight.
@Tim
Guess its too early for vacation…Here info from Stephan Steinkeller.Soon new solution
murobbs.muropaketti.com/posts/1718048016/
What is your experience with scams, which are without bank accounts? Does it mean, that they will finish soon? Or is there any chance to continue with scamming people?
There are scams out there that have recruits pay directly to their sponsor, but doing it that way will most certainly kill the huge momentum that OC had at one point.
People will be even more skeptical when someone tells them to just send your money to me instead of some alleged biz opp. It just adds another layer of shady to the whole scam.
Of course, this makes individual recruiting events even more of a money grab.
In the ponzi world, you have Black December coming up, which is when many scams shut down or collapse due to the huge increase in people trying to cash out for some holday spending money.
I think we should target China Union pay next. Any suggestions how to proceed with this?
I this this should be done with combination: contacting Chinese financial fraud authorities and China Union Pay.
@Without bank accounts question.
It depends upon couple of things.
1. Where have OneCoin been sending real money to affiliates when they have sold OneCoins and asked to transfer those real money funds to their accounts?
If they cant do that anymore, then that is a serious blow to them as no one is going to be receiving any money from them anymore, that might take even some of the hardcore leaders out in the long run.
2. Basically they can still get money in when spots are bought with bitcoins. (any chance for stopping them from using BitCoins?)
Idea is that hardcore leaders will buy those codes, and sell codes to new affiliates, this way leaders do get some real money, and leaders are also willing to go through the hassle of buying more coupons with bitcoins.
Bitcoins OneCoin can change to real money.
But it wont be as effective anymore, for many reasons. As example, someone might want to join as a company and demand for book keeping point of view that payment must be bank transfer. Not possible, not joining.
Others will not feel good about buying codes from other people, but want to buy them from company directly, once again, not joining.
Those who finally get little bit of downline, go happily to transfer bit of their profits, but cant do it. finally quit.
Also, dont forget that many leaders might not be wanting to handle any recruitment money through their hands, since as long as they are just promoting, but one joining is always directly dealing with company, they dont legally get to same situation as they get when they actually handle the money themselves.
For those who are scammers, they might not want to take that step, and then again those who are honest, they want to know how to handle it from book keeping/taxation point of view, and it will probably fall on that part that they are not willing to do, either because it is unlcear, or because hadnling the money themselves make them have more responsibility which they might not want.
etc.
so it can live still, but it isnt so easy anymore.
Don’t forget there are other “cryptcurrencies” that share the same principles as onecoin like swisscoin, giracoin, yocoin. All of them offer great opportunity.
Even capricoin seems like a scam.
@From Finland –
No, bitcoins use a “push” mechanism and once they are sent cannot be recovered. There are advantages to this for legitimate merchants, as well as for scam companies.
However, NO ONE who is familiar with “how bitcoin works” is stupid enough to sign up for OneCoin. NO ONE.
The ONLY hope they would have would be in actually “teaching” real cryptocurrency education to first time users, and even then, why use a cryptocurrency which “works” to pay for things and trade it for an alleged cryptocurrency which clearly doesn’t.
@Moszi – I do Not predict ANY success with “pre-mined” MLM coin scams at all. Off people want to use crypto, they can but $1.00 or $100 of ANY crypto and actually HAVE $1 or $100 of that cc which is fungible on a variety of exchanges.
The ONLY way to make any money in the MLM cc market is via binary and blind “faith.”
@Oz don’t sleep. The “no banks left” is old news soon. 😀
Maybe Onecoin will be assimilated by one of those?
How about Nexxuscoin?
No public exchange, mind boggling compensation plan. Centralized coin for bonuses and sales of non existing merchants.A Crypto university. Top leaders with unbelievable vitas. Etcetera….
Sounds just about right, doesn’t it? 😀
I just wonder… What’s the price tag on 2.6mil KYC documents again? 😀
@Mark –
100% AGREED! Black Market. Insult to injury. Oh Labine and Boughey. You stupid assholes!
I only woke up an hour or so ago and am going through the overnight comments. What do you mean old news, I’m just about to put pen to paper!
Lets stop all this nonsense before everyone loses there money……