CoinPayments still servicing $4 billion OneCoin Ponzi scheme
Payment processor CoinPayments is still providing financial services to the $4 billion OneCoin Ponzi scheme.
This follows a categorical denial from CoinPayments in June 2022.
In an attempt to distance themselves from notoriety, OneCoin created OneEcosystem in 2021.
On April 12th, 2023, OneEcosystem uploaded a video titled “HOW TO TOP UP YOUR DIGITAL CASH WALLET” to their official YouTube channel.
The video presents different ways affiliates can invest money into OneCoin. At [1:03] into the video, various deposit option in euro are presented, with CoinPayments appearing as OneCoin’s payment processor.
Last year OneCoin featured CoinPayments in its marketing material. This was shared by BehindMLM reader WhistleBlowerFin on June 24th.
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).
Within 48 hours of that information appearing on BehindMLM, CoinPayments issued a statement on Twitter denying involvement with Onecoin.
Turns out that was a lie, with CoinPayments continuing to provide OneCoin with financial services all along.
OneCoin founder Ruja Ignatova sits on the FBI’s top 10 most wanted list.
Several OneCoin executives have been indicted in the US. The OneCoin criminal cases are in various stages, with some defendants awaiting sentencing and others yet to be convicted.
Despite the dismantling of OneCoin’s public executive team by US authorities, OneCoin continues to operate out of Bulgaria.
The Ponzi scheme is run by puppet CEO Ventsislav Zlatkov, who is believed to work for organized crime interests tied to Bulgarian officials.
CoinPayments is a crypto payment processor that operates under UAB Star Ventures, a shell company incorporated in Lithuania.
CoinPayments is owned and operated by Alex Alexandrov and Jason Butcher.
Alexandrov is originally from Ukraine but moved to Canada at a young age. Alexandrov relocated to the notorious crime capital Dubai a few years ago.
Butcher, believed to be a Canadian national, is hiding out in the Cayman Islands.
Most of the OneCoin arrests pertain to money laundering, in addition to other criminal charges.
CoinPayments has a history of assisting fraudulent MLM schemes with laundering money.
- in March 2019 the PowerBot Ponzi scheme blamed CoinPayments for its collapse
- in June 2019 the CFTC revealed the Control Finance Ponzi scheme had laundered ~$150 million through CoinPayments
- in February 2021 the SEC revealed Krstijan Krstic used CoinPayments to launder Ponzi funds
- in July 2022 BehindMLM noted CoinPayments was being used to launder NexusICO Ponzi funds
- in November 2022 US authorities recovered 3658 BTC of stolen EminiFX investor funds sent to CoinPayments
- in October 2022 the NovaTech FX Ponzi scheme blamed ongoing withdrawal delays on CoinPayments
Whether US authorities will go after CoinPayments for assisting and continuing to assist OneCoin with money laundering remains to be seen.
does this mean i might be able to cash in the $25,000 worth of OneCoins i have for real money or something?
No. That ship sailed ~2017.
State sanctioned money laundering by Bulgaria.
Current CEO of CoinPayments is Sean Mackay.
“Check out what CoinPayments’ CEO Sean Mackay answers to some of the most frequently asked questions about the world!”
Ah, they’ve left a fallguy in Canada to take the hit when regulators come knocking.
And Mackay’s a new hire too. It was only back in March 2022 CoinPayments appointed Dennis Pederson as CEO.
Being CEO of a payment processor furnishing crypto Ponzi schemes seems to be a revolving door position.
Can’t help but laugh at OneCoin’s incompetence. They thought they are very “clever” with the video and blur their CoinPayments’ account name, which is “right_click”.
I don’t know what’s the point of that really because we know that anyway, but anyway they blurred it and the company email which again links to OneCoin: invoice(at)onelifecorp.eu
Except they missed blurring one screen and the email is also pretty much still visible despite the blur. LOL.