CoinPayments dumps OneCoin Ponzi in 48 hours
Last week OneCoin revealed they would be accepting tether through CoinPayments.
Two days later the payment processor announced it had dumped the Ponzi scheme.
As reported by BehindMLM reader WhistleBlowerFin on June 22nd;
OneCoin has added a new feature to their OneEcosystem Portal which allows members to “top up” their OneLife Euro cash wallet by using real cryptocurrency via payment gateway called CoinPayments (registered to Cayman Islands).
This is needed not only for paying new MLM packaged but also for their new CashSafe interest feature, and because Dealshaker has now 1.25% Euro fee with all deals.
Some time ago OneCoin introduced a new service called CashSafe which provides “guaranteed” Euro interest up to 2% per month for Euro savings. All without any licenses of course.
A June 24th YouTube video features OneCoin promoter “Sa”, explaining investment into the Ponzi scheme via CoinPayments (click to enlarge):
Two days later, CoinPayments confirmed on Twitter they were “not work(ing) with OneCoin anymore.”
Giving CoinPayments the benefit of the doubt, I’d assume OneCoin signed up as a merchant via one or more shell companies.
If that’s the case, fair enough. CoinPayments isn’t alone is not realizing till it’s pointed out to them (or they get suspicious of fraud taking place).
If CoinPayments knowingly took on OneCoin as a merchant, even if it only lasted two days, they might want to strengthen their internal vetting processes.
What happens to any tether OneCoin investors dumped into the Ponzi through CoinPayments between June 24th and 26th is unclear.
Update 20th April 2023 – Despite their denial, as of April 2023 CoinPayments is still providing financial services to OneCoin.