OneCoin, DasCoin, FutureNet & Lyoness scam warnings from Poland
Poland’s Office of Competition and Consumer Protection, more commonly known as UOKiK, has issued scam warnings against OneCoin (OneLife), NetLeaders (DasCoin), FutureNet (FutureAdPro), Questra World (Atlantic Global Asset Management) and Lyoness.
The December 18th warning, published by UOKiK President Marek Niechciala, appears to be an end-of-year recap of regulatory actions taken by the watchdog.
OneCoin and OneLife
One Life Network from Belize – encourages you to buy an “education package” OneLife or OneAcademy, promises the opportunity to receive material benefits for introducing other people to the system.
Following an internal investigation, On October 31st UOKiK ‘notified the District Prosecutor’s Office in Warsaw (about) the possibility of (OneCoin) committing a crime‘.
BehindMLM reviewed OneCoin in September, 2014 and identified it as a Ponzi scheme.
Net Leaders and DasCoin
NetLeaders encourage investment which provides a license to manufacture DasCoin.
They promise quick profits. They also encourage people who have invested in DasCoin to encourage others and thus earn a living.
The cryptocurrency DasCoin does not exist , the organizers are just promising to start its “extraction”.
You really do not know what DasCoin is, so consumers are paying money for something they do not have.
UOKiK received a warning from Poland’s Financial Supervision Authority (KNF) about Net Leaders in February, 2017.
Following an internal investigation, UOKiK notified public prosecutors of Net Leaders committing possible crime on June 28th.
Net Leaders initially launched as Coin Leaders in late 2016.
BehindMLM reviewed Coin Leaders in October, 2016 and concluded DasCoin is a clone of the OneCoin Ponzi scheme.
FutureNet and FutureAdPro
These are portals offering, in exchange for a fee, the purchase of advertising packages.
According to the information on the company’s website, you must buy the package and persuade other people to participate.
The KNF warned UOKiK back in February that FutureNet and FutureAdPro were likely operating as pyramid schemes.
Following an internal investigation, UOKiK notified public prosecutors on June 28th of the possibility FutureNet and FutureAdPro were committing crime.
BehindMLM reviewed FutureNet in 2014 and concluded it was a six-tier matrix Ponzi cycler.
FutureNet launched FutureAdPro, an adpack “revshare” Ponzi spinoff, in early 2016.
Last we heard FutureNet were trying to launch their own pump and dump Ponzi ICO.
Questra World and Atlantic Global Asset Management
Questra World and Atlantic Global Asset Management offer purchase of investment packages, promise high profits and the opportunity to “earn” from selling companies and persuading other people (to join and invest).
Complaints received by UOKiK in February and May suggest both companies ‘carry the hallmarks of a financial pyramid scheme‘.
BehindMLM reviewed Questra World in late 2016 and concluded it was a Ponzi scheme.
Atlantic Global Asset Management appears to be a sister scam run by the same people.
After launching two unsuccessful spinoff Ponzi scams, Questra World collapsed last month.
Lyoness
Lyoness offers material benefits that depend on introducing other people to the program.
Earlier, the participant pays in advance for the purchase of vouchers or gift cards or makes purchases from business partners.
BehindMLM reviewed Lyoness all the way back in 2012.
Throughout its various incarnations (Lyconet and more recently Cashback World), Lyoness has maintained its accounting unit Ponzi scheme.
Affiliates invest in units (or vouchers), which promise a ROI once enough new units or vouchers have been invested in by other Lyoness affiliates.
At the time of publication Lyoness appears to be thriving in Italy, with Alexa estimating the country makes up a third of traffic to the Lyoness website.
Alexa cite Poland as the second largest source, coming in at 5.6%.
Recyclix
To join the system, the customer had to buy from Recyclix at least 100 kg of waste that the company was supposed to send for recycling, and the profit to divide between consumers.
Recyclix also offered money to persuade other people to participate in this transaction.
Following an internal investigation, Warsaw Public Prosecutors initiating proceedings against Recyclix in May, 2017.
BehindMLM reviewed Recyclix in early 2016 and concluded it was a Ponzi scheme.
In March 2017 Recyclix collapsed and stopped paying investors.
In relation to regulation of MLM Ponzi and pyramid schemes in Poland, Marek Nichciala warns
proceedings conducted by law enforcement authorities and the President of UOKiK may result in criminal charges or the issuing of decisions regarding infringement of collective consumer interests.
A pyramid scheme is as follows: you deposit money and recruit other people for which you are paid.
Payment comes from the payments of people you directly recruited and people who they further recruit.
In this way, you fund the pyramid and finance the person who recruited you.
However, after some time the system falls, because the funds you deposit are not invested in any assets and do not generate profits.
The funds are paid out to people in higher positions in the pyramid chain.
This system works as long as more money is paid in than is paid out, but for this to happen, the number of people participating in the pyramid must constantly and rapidly grow – and this is not possible.
Your money is gone. Contact with the owners is lost. You’ve lost.
UOKiK recommend anyone in Poland who suspects an MLM company might be a Ponzi or pyramid to file a fraud report with local law enforcement.
Update 13th February 2020 – On December 30th, 2019, UOKiK ruled Lyoness is a pyramid scheme.
Is there a list of leaders that have jumped from Onecoin to DasCoin?
Is it legal to put this list forward on social media accounts (personal names and company names that are believed to be scams)?
I understand the right to free speech but am unsure of what constitutes slander or libel if I or my friends posted names to social media.
Slander and libel don’t apply to statements believed to be factual and made without malicious intent.
That said some countries don’t have free-speech so it really depends where you’re based.
This is just the regulatory agencies not understanding the brilliance of OneCoin, and it is not illegal to sell educational material. OneCoin and OneLife are in full compliance with all rules and regulations. Just ask Igor Krnic.
The authorities were bought off by the banks and competitors of OneCoin and of course I can’t forget us “haters.”
Now they write in some sport news websites it is not Lyoness who is sponsor of polish soccer league but other company, with different name haha.
I have been in Lyoness and there has not been an issue. It’s all about shopping, earning cashback and points. It’s more in depth because it’s going to confuse people.
Lyoness is going and getting big. I’m proud to be a member.
Good thing UOKiK’s warning isn’t about whether you personally have had an issue with Lyoness. It’s about Lyoness’ business model, which is a combination of pyramid and Ponzi fraud.
Up until mid October Lyoness recruitment had declined steadily throughout 2017.
Once recruitment fizzles out in Italy it’ll go back into decline (till they find another country to jump to).
Well….since they signed AS Roma as a partner recently that won´t happen for a while!
I persoanally believe the opposite will happen in 2018!
There’s only so many football fans they can con to invest. That’s if the Italian regulators don’t move in first.
Lyoness has left a long trail of destruction in the countries it’s operated in.
Oz,
Have you seen this article? I just came across it tonight:
(Ozedit: URL removed, see below)
Xunlei’s OneCoin has nothing to do with the MLM company.
You don´t get it mate! The AS Roma or other collaborations has nothing to d with “con” fans to invest.
They will on the other hand consume through CashbackWorld and by this consumption increase the shoppingpoints for the sponsors…. not invest in Units as you all seems to argue!
It would be worthless if they become Lyconet members…..!
Sure it does. People love their sports teams and partnerships such as these pave the way for affinity fraud.
Yeah, that’s the pseudo-compliance version. In reality they’ll be promised tons of money and told all they have to do is shop.
Then when they get nothing they’ll be told to invest in AUs if they want anything back.
Lyoness didn’t just partner with sports clubs. Someone in the club is a Lyoness affiliate and wants to recruit the supporter-base into their downline.
You still don´t get it! If we now take AS Roma fans for an example: they sign up for free as with every other bonus cards and the DO get money back on EVERY purschase made within Cashback World affiliates.
They doesn´t pay extra for this BUT they sponsor AS Roma instantly everytime they use their card!
For those having a part of the Italian Customer Cloud this will kickback very good as Italy is the most expanded country.
You are so wrong about the downline for white label collaborations! No single person get these fans as their downline! But if, so what? It still gets Cashback World card going, working and refunding….
I get money back for ALL mine purschases online and in stores! No extra paid for that! Wake up!
If you want to ignore history, do so at your own peril.
Italy is simply the latest country to fall for Lyoness, and you are obviously a new’ish affiliate ready to buy into the marketing BS.
Lyoness cashback has never been anything more than a preamble to getting people to eventually invest in AUs.
If it was worth a damn there’d still be activity in countries where affiliate recruitment has collapsed.
Instead Lyoness move from market to market when affiliate recruitment collapses, with Italy being the latest market to exploit.
How naive you are. None of this is coincidence.
Whoever convinced AS Roma to exploit their supporters will profit handsomely.
Yes I’m familiar with the marketing pitch, seen it from affiliates in every country Lyoness has set up shop in.
As Hubert Freidl himself said though, “it’s all about positions!” Best of luck with the scamming.
game over in Norway
/lottstift.no/nb/om-oss/aktuelt/varsel-om-vedtak-sendt-til-lyoness/
Trying to debug a server issue at the moment. Will get to the news soon as we’ve squashed it.
OK, nobody breathe. I’ve had about 1 hr sleep over the last 18 hrs dealing with this. Going to monitor for a bit longer and then go have a nap.
News tomorrow (thanks to those writing in).
okey dokey boss.
remember to breathe while napping!
Good to have you back!
Hello,
I was reading an article in your website regarding Netleaders, DASCOIN, where it says the coin DASC doesn’t exist, and I was surprised to read that because I actually traded DASC on very reputable public exchanges and also to my understanding they have an alliance with cartaworldwide which is the #1 online payments processors, and very reputable.
plus the CEO just assisted a conference at the ONU talking on helping sending money to countries and avoid corruption so clearly you are misinformed, and (Ozedit: conspiracy theories removed)
I can admit there’s a lot of ponzy schemes out there trying to scam people, but Dascoin/NetLeaders is not the case.
Have a great day.
Thanks
What was the date of the article, and what was the date Dascoin launched it’s altcoin script? Herp derp.
Launching an altcoin doesn’t change the fact that NetLeaders investors have been stealing subsequently invested funds through the DasCoin internal exchange. That’s the Ponzi side of the business.
And having an altcoin these days is just part of the eventual exit-scam. You take in real money, as NetLeaders and DasCoin did, and pawn off pre-generated altcoins (or points if you’re not there yet).
Get your altcoin listed on an exchange and leave your investors in a trading race to to the bottom. You don’t care, you’ve already got their actual money.
NetLeaders recruitment has been in decline for at least six month (Alexa). DasCoin’s website health is even worse. And almost 100% of all DASC trading takes place on on exchange, so it might as well be internal.
These are all classic signs of an MLM altcoin exit-scam.