Fraud plagues OneCoin’s DealShaker platform
The trouble with running a Ponzi scheme is you attract all manner of seedy people.
When OneCoin told affiliates it was suspending withdrawal requests earlier this year, their less than scrupulous investors had to come up with new ways to withdraw money.
For affiliates in India, that meant creating new accounts for unsuspecting victims and offloading their OneCoin balances in exchange for cash.
For affiliates in China, they saw potential in OneCoin’s DealShaker platform.
Launched in January 2017, DealShaker allows OneCoin affiliates to list goods and services in exchange for a combination of real money and OneCoin points.
Fees tend to be a bit ridiculous, so other than random purchases flea market goods (to use in affiliate marketing more often than not), nobody really uses it.
Almost immediately after it was launched, “too good to be true” listings for luxury cars and properties began appearing in Chinese.
Although they could only understand the listing through auto-translate, it didn’t take long for English-speaking OneCoin affiliates to tout the listings as evidence of DealShaker’s success.
Luxury cars paid for entirely in OneCoins or a fraction of the RRP? Quite obviously the ads were targeting Chinese OneCoin affiliates, so what on Earth was really going on?
A few days ago a message in the OneCoin affiliate backoffice revealed the answer.
The ruse, as revealed by OneCoin, saw affiliates list luxury items for intentionally ridiculous prices. Upon selling a listing, the seller would demand additional real money. This additional money (which would typically make up the “discount” difference), was to be paid external to the DealShaker platform.
This release comes as a warning issued following recent complaints, reporting a chinese car seller, requesting payments outside of the coupon price, indicated in the DealShaker platform.
This saw the OneCoin scammer running the listing collect OneCoins and real money, on top of what ever the sucker who bought the deal was willing to send them outside of the DealShaker transaction.
The ruse eventually got so out of hand that OneCoin banned all real estate and car deals from “Chinese regions”.
The DealShaker and OneLife teams would like to inform all merchants that due to the above any real estate and car deals will be rejected and banned from the platform for all Chinese regions, until further notice.
All fraudulent merchants will be blacklisted and reported and no compromises are made if any other deceptive behaviour is attempted or reported.
The good news is that, while you may no longer be able to “purchase” a car or house on DealShaker at a steal, there’s still plenty of useless flea market garbage you can trade your Ponzi points for.
Better get in quick though, authorities around the world are closing in and there probably isn’t much time left.