OneLife suspend OneCoin withdrawals, affiliates can’t cash out
Whatever hopes OneCoin affiliates had of getting their money out of the scheme have been dashed, after it was announced the xCoinx internal exchange will remain closed.
The news was broken to OneCoin affiliates over the weekend, tacked onto the end of a video message by Founder Ruja Ignatova.
For months OneCoin have been denying all but a tiny percentage of withdrawal requests made through xCoinx. xCoinx is an internal exchange operated by OneCoin and is the only way for affiliates to cash their OneCoin points out.
A few weeks back OneCoin shut down xCoinx, in anticipation of an announcement on January 13th.
As per a message quietly flashed up on-screen after Ignatova’s video,
xCoinx will be closed to prepare for the IPO.
Until then you all can exchange your coins for OFC – or spend coins on your newly launched e-commerce platform.
The IPO ruse is straight out of the OPN playbook. OneCoin purchased the OPN affiliate-base back in January of 2016. The deal also saw several OPN executives given cushy leadership positions within OneCoin.
OPN, otherwise known as The Opportunity Network, was a failed reincarnation of the Unaico/SiteTalk virtual shares scam.
Not unlike OneCoin’s OFC offering, which are virtual shares in the company’s yet to take place IPO.
In an attempt to provide some value to the virtual shares it had been schlepping onto affiliates, OPN tried to list itself on the GXG Markets stock exchange through the shell company “ST Communities”.
OPN however failed to pass GXG Markets’ “screening process” and the listing was terminated.
The backup plan saw OPN list itself on the Cyprus stock exchange via “Global Digital Services PLC”, another shell company.
OPN IPO shares were converted to actual shares in Global Digital Services. Not surprisingly, after the listing the share price plummeted.
Global Digital Services is still traded on the exchange, with a share price 2.6 cents as of December, 2016.
Why am I bringing all of this up?
Well there’s a good chance OneCoin is going to follow suit. Frank Ricketts, the man who orchestrated the OPN bogus IPO, has been appearing on stage at OneCoin events since the OPN acquisition.
Expect OneCoin to announce it’s IPO via a backwater stock exchange and shell company you’ve never heard of soon.
In their current state, OneCoin points present a dilemma for OneLife as a company. The represented internal value is currently 7.9 EUR a point, only OneCoin doesn’t have enough money to honor the millions of coins it’s created and sold off to affiliates.
The OFC offering is an attempt to convert OneCoin point liabilities into virtual shares, the value of which will plummet once the IPO takes place.
Basically it’s just a different way for affiliates to lose money through. OneCoin will claim they can’t control the public share price, and that’ll be that.
Oh and despite quite clearly offering securities to their affiliates, OneCoin have of course failed to provide any indication that they’ve registered themselves with a securities regulator in any jurisdiction.
So we can now add securities fraud to list of financial crimes OneCoin have thus far engaged in.
The other major announcement made in Sweden over the weekend pertains to OneCoin’s merchant network.
Last year the number of merchants that were purportedly “signed up and ready to go” climbed to 500,000. In May OneCoin was supposed to reveal its pre-populated merchant platform but that never happened.
Late last year the company released a merchant app, which since appears to have been quietly abandoned.
Now affiliates have been told they’ll need to source merchants themselves for OneCoin’s upcoming “Deal Shaker” platform.
Merchants using the Deal Shaker platform have to take payment of at least 50% in OneCoins, with OneLife taking a 50% cut of whatever the real money percentage is.
That not a typo. OneCoin is going to charge affiliates a 50% fiat currency fee for using their DealShaker platform.
What’s curious is that up until recently OneCoin support were telling affiliates merchants wouldn’t be able to accept OneCoin as payment until the coin goes public.
Ruja Ignatova has previously stated that won’t happen until the second quarter of 2018. That plan seems to have now gone out the window.
Meanwhile how merchants will actually use OneCoin is unclear. A legitimate third-party business (not run by a OneCoin affiliate at a loss) needs to conduct business in actual money.
With xCoinx down even merchants can’t exchange OneCoin for money. So why would a legitimate merchant accept OneCoin?
You can’t run a business on Ponzi points, even if you’re only taking in the minimum 50% of revenue in OneCoins as required.
With the merchant platform unlikely to take off (beyond a few token businesses owned by affiliates), that leaves affiliates with OCF virtual shares, an IPO who knows where and coins they can’t liquidate.
Once Nigeria stops pumping money into OneCoin, what then?
So, turns out this whole OFC thing has been already executed once with the Unaico/OPN scam, which includes the same scammers Greenwood and Ricketts.
It’s pretty clear path now to the end. OneLife just has to be able to list somewhere, convert to real shares. Price falls. The end.
It’s pretty fascinating that OneLife goes the same path with this stock exchange listing and virtual shares as Unaico/OPN.
I put the OneCoin weekend news announcement summary once more here.
Dealshakers.com merchant place:
– DealShakers will start taking deal offers tomorrow. But according to Ruja, members can start using OneCoins after a month February 16th.
– The seller has to accept at least 50% of the value as onecoins
– Ruja takes 25% fee from the real money part
– If a rep can pimp a merchant to join, the rep can get BV (and bonus) from the real money part of the pimped merchant sales
Ruja’s future talk:
– Still plans to make OneCoin public second half of 2018
– Ruja wants to take OneLife to some Asian stock exchange (interesting to see if possible even in Asia)
– Ruja persuades members to exchange their coins to OFCs which can be used to acquire real shares according to Ruja.
– In February there’s a promotion where you can get double the OFCs with your coins (whoop whoop)
– XcoinX remains closed for undisclosed amount of time. Interesting to see member reactions to this news, who are hoping to finally get some money out of their investment.
– Selling coins remains impossible. No serious merchant will touch with a 5 foot stick this kind of circus.
By the way, the link giving the raw figure of OneCoins “mined” works again.
Just now it gives a number: 9439480000. About 9.439 billion onecoins “mined”.
This gives with the internal 7.85€ value a fake market-cap of: 74 billion euros.
Compare this to Bitcoin’s 12 billion euro market-cap.
Only thinng is, now that XcoinX is closed, nobody can sell any OneCoins, even though its fake market-cap increases a billion euros every 2 days and is already 6 times bigger than Bitcoin (not in reality of course).
Soooooo, Let me get this straight:
1.) Onecoin is a “FINTECH company”
2.) most transparent
3.) “Bitcoin Killer”
4.) “What gives cryptocurrency value is usability. We plan to be the most usable cryptocurrency and easy for the merchants” – Ruja Ignatova
5.) it’s “easier to use than bitcoin”
6.) …But can ONLY be used to a.) buy likely overpriced goods from fellow club members (at whatever exchange Tate they see fit???), or b.) convert into virtual shares which would inherently be highly volatile, thereby destroying the whole facade of “creating stability fit the coin,” unlike other crypto
7.) Merchants have zero liquidity (other than volatile shares)
8.) if merchandise/ product is sold for 100€ than merchant pays company 25€ outright, BUT IF HE WANTS TO WITHDRAW CASH PAYS ANOTHER 30€ to withdrawal???
RE #8: I don’t think the maths works:
50% MUST be in OC. Therefore, a 100€ product sold 50/50 (half OC/ half€) leaves a 55€ expense. *scratches head
Soooo, in this scenario, which is the minimum acceptable model (ie., “must offer product in 50% OC”) how or from where is the remaining 5€ in actual money accounted for or collected from? Merchant receives just 45% of original price ….but in OC ONLY???
BY CONTRAST, BITCOIN (an old and outdated cryptocurrency – the “MySpace” if you will to Onecoin’s “Facebook” solution), HAS THE OPENBAZAAR MARKETPLACE:
OpenBazaar: “A Free Market for all. No Fees. No Restrictions. Download · It’s open source. View the code.”
Just wow! So much for “The Future of Payments” and “Banking the Unbanked” – bringing affordable banking and Payments to the world. Uggggh! SMH!!! Lol.
John Reilly, a well known US OneCoin rep, seems to have finally realized what is going on with OneCoin. He hasn’t been doing new OneCoin videos for over a month, and seemed to be less and less enthusiastic about OneCoin.
Obviously today after the latest news, he removed dozens of his popular OneCoin instructional videos, and left only 1 video on his YouTube channel – “Fastest Way To Buy Bitcoins”
New Way Earners – YouTube
Good for him, if he really finally understood what OneCoin really is. Props to John in this case.
I assume they wouldn’t pay €30 for each transaction. It’d be when they want to withdraw all of their cash accumulated during a day or whenever.
However, when members were all struggling (read: found it impossible) to withdraw, what’s there to say it’ll be any easier for merchants? “Future of Payments” alright!
I don’t think any real merchants would or could ever be interested. It’d be business suicide. Worse than those Groupon horror stories.
Slight correction to your merchant logic.
One possiblity to interpret that text is that if you sell 100 Eur product, then merchant gets 50 euros worht of OneCoins, and 50 euros of real money.
From that 50 euros of real money, 25 percent is cut to OneCoin, which amoutns to “only” 12.5 Euros.
Hence at this point Merchant would have made 50 euros of OneCoins and 37.5 Euros of real money.
And as Anon pointed out too, if merchant then makes 10 similar sales, he would have total of 500 Euros worth of OneCoins, 375 euros of real money, and when he then wishes to transfer that 375 euros of real money to himself, he would then pay 30 euros, and in the end get 345 euros of real money to himself.
at same time OneCoin would have made 125 + 30 = 155 Euros of money.
I can see a merchant who uses this system to make a lot of sales.
If anyone knows some merchant whos going to sell Nintendo Switch using this, let me know. I’ll be more than happy to use 200 euros of real money and 200 euros “worth” of OneCoins to buy Nintendo Switch from anyone who wishes to sell it for that price.
Fascinating twists being spun by Leaders and Onecoin marketing in regards to yesterday’s absurd revelations:
Excerpt from LeadHounds.net
(Pay particular attention to the heavy indoctrination efforts in the last two paragraphs):
Even though that blog might have been posted in previous comments, I recommend everyone who is following the onecoin scheme to read the following blog, a brilliant piece of work which investigates the onecoin’s so called “blockchain” and takes it apart piece by piece:
Asian stock exchange? Well there you go.
They’re probably going to use one of their dodgy Chinese shell companies, IPO it and hope to fly under the radar.
If that’s not happening until the second quarter of 2018 though, are affiliates going to last that long with no OneCoin point withdrawals?
And merchants? Lol…
Hey use our internal Ponzi points to run your business! Oh and you can’t convert them into real money until at least April 2018. Kthxbye.
Ruja said in the video “we want to make this the biggest IPO of 2017”.
So what are leadhounds talking about then. Or have they confused OneCoin points “going public” with the IPO?
Leadhounds probably mixed onecoin “cryptocurrency” going public (according to Ruja Q2 2018) and company going to public stock exchange (unknown date, but Ruja said they want to be biggest IPO of 2017).
It’s not unusual that the OneCoin reps don’t know much anything what they are talking about.
That said, i wouldn’t be surprised if the IPO doesn’t happen in 2017, or ever, for that matter.
Good luck beating out Snapchat, Uber, and Pinterest.
I think she meant biggest IPO of 2017 within the stock market that OneCoin becomes a part of. I’m thinking they become the 5th member of the Cambodian Stock Exchange. Either that or the Yangon Stock Exchange.
And the funniest thing it’s that these are the same people, particularly the Lead Hounds scammer, who accuse detractors of “not understanding anything about how Onecoin/ OneLife works” …oh, and “the ‘vision of the company and its benevolent founder, the great crypto queen.”
“Oh you haterz just wait until ___________!” (fill in the blank/ date) … AGAIN!
There will be no IPO. They are milking it for whatever it’s worth atm.
“Leaders” are leaving every day……… might last another couple of weeks in SEA and Africa, if that.
25% bonus on tokens for all purchases and upgrades made by Feb 4. These are exciting times we are living in… or should I say desperate times.
I wonder what the impact would be to a legit company if they just started giving away their product right before an IPO…
Really interesting news from Ari Widell,here.Names of the two secret BankAccounts, OneCoin are using. Dubai and Spain.
High time to act.
Lee O’Shea is claiming victory for Onecoin and total defeat for all those “pests” who have ridiculed him for a year!
Either he is deluded or it’s damage limitation time for the Dubai donkey 🙂
ONE LIFE NEWSLETTER this week.Theres alot we now know about already .Post it straight away even though i havent read it all.
New members from the Millennium Network. About 200.000 p from Brazil and Latinamerica joining….
Dunno if this slipped through the cracks in another thread (RE: “Nigeria warms against…”?), but here is the direct link whom someone made mention of involving a Onecoin Leader kidnapped in India (East Delhi) by investors, the police rescued him ….only to then ARREST him along with seemingly a Top Leader in his upline.
The report CLEARLY LINKS THEM BOTH to the “Bulgarian Pyramid Scheme, One Coin (sic),” and even directly mentions Ignatova (mispelled).
Of interest, Renata DeRoos’ FB Page (that is Ken Labine’s “lovely lady”/ co-conspirators now) also shared Yasir Mirza’s post of Labine on stage in Gothenburg standing in front of a giant screen depicting a BMLM image with the Title, “Onecoin Reps Arrested in China” with the sub-header, “Google Confidence | Ken Labine,” in which, of course, Labine slithers his twisty and predictable presentation somehow into down-playing and dismissing the fact altogether.
So, as it appears, we now have half a dozen arrays related directly to Onecoin scam in China, Bangladesh and now India.
@Oz: seems to be a worthwhile follow up. No?
@MOI – according to the Onecoin News Letter it is extremely clear that xcoinx is officially defunct as a trading platform/ Exchange and Onecoinists have absolutely no hope of selling their coins, whatsoever before IPO in mid 2018 (when the company will be long closed)
How the #KleptoQueen and company plan on perpetuating an appreciating target value of 25-35€ plus over the next 15 months or so when there is literally no trading market outside of their whacky Groupon ripoff appears to be impossible, but this is clearly of no concern as the main goal is to now convert a “stable value” ponzi coin into a highly speculative and volatile pre-IPO/ OFC, aka Unaico scam (which is yet again just another vapor-project pipe-dream).
The push for IMA’s to make a quick decision before the end of February (in order to, again, magically double their shares/ holdings) is also extremely suspect and troubling for investors.
As the inebriation of the latest “HUGE NEWS”/ Announcement wears off and victims sober up to the reality of the true situation and end-game, I suspect the inevitable mutiny-on-the-bounty type frenzy to begin inundating official OneCULT/ OneLie Facebook pages as despair begins permeating further,in the form of FUD.
How victims can dismiss so many broken and delayed promises, bank account shut-downs, Federal warnings and investigations, multiple arrests, ghost projects like Aurum Gold Coin (backed by 99.9999% gold held in vaults in Dubai) and OneSiteTalk, for so long, is simply beffudling.
Perhaps (and hopefully) this will be the straw that breaks the proverbial camel’s back, and victims will look in the mirror and see themselves as such and finally begin a joint effort to unload all of their information, upline contacts, screen-shots, emails, ad nauseum, to the proper local authorities for federal and international collaboration, to begin the very long and drawn out process of bringing these criminals and charlatans to justice.
Following a couple of links from the Ari Widell you get to this unfinished page discovered by somebody:
The first paragraph is already interesting:
They seem to be in the process of founding one more supposedly independent company to handle the merchant site.
Sorry, my mistake. The dealshaker terms and conditions page is not a secret, and has been easy to reach from the home page all along.
So in its very first paragraph of TOS we learn that the StealSneaker platform is just another THURS PARTY tech/ app/ platform. This brings the Onecoin FINTech/ software company’s total in-house marketable products they created, again to ZERO.
WTF- from the DealShaker FAQs
I thought that the eBay fees were outrageous.
According to the newsletter, members can only begin shopping from 16 Feb and the 25% fee is only until 1 Mar, i.e. only 2 weeks!
After that, it’s up to 50%. Notice in typical “convicted criminal” Ignotova fashion, she made out that 25% was the fixed fee.
Thanks for catching that guys. I’ve edited the article to reflect the actual 50% fee.
Needless to say 25% was bad enough. What legitimate third-party merchant is going to accept OneCoins that cant be liquidated and hand over 50% of whatever they accept in fiat currency?
I believe the Onecoin reps are going to promote this as “the way to guide merchants to accept as much of the payment in OneCoins as possible”.
Think about it – if you live in the bubble where Onecoin actually has the value of 8.5€ (or whatever they now say it is) and rising, it makes full sense that the merchants take 90% of the sum in Onecoins (paying only 5% of the price of good as fees) or even 100% in Onecoins (thus not paying fees at all!). If you live in that bubble.
Of course for the rest of us living outside of that bubble the whole defense for the high payment is retarded – no matter how you twist it the payment for using the – erm – “merchant platform” is insane and only the most fooled of the investors could still believe that the coin has a non-zero value.
I doubt any of them have the required basic math skills to actually run a business that could operate as a Merchant there. And I doubt anyone who actually runs a successful business is so lost on basic laws of finance that they would be fooled into Onecoin.
The whole pricing plan sounds as if it is created only to make sure that the merchants will not come.
Aouch – NoLink:http://dealshaker.com/ -> Still “Coming Soon!”
So – all Haters – what are they supposed to come up with now?
XCoin is closed
Dealshakers is not up and running as promised it should have been.
So what/how are Onecoiners supposed to use their Mumbo-Jumbo currency now?
In the meantime the Ponzis are discussing on Facebook about what happened to their Onecoins and Euros which currently are “lock up” in their xcoinx accounts.
The issue is that all transfers of onecoins and Euros between the accounts in the onelife-eu backoffice (which is still accessible) and the xcoinx accounts, was only possible by logging in on the xcoinx account, which currently is NOT accessible.
So nobody knows the status of the last buy/sell orders and nobody can transfer the proceeds (i.e. Euros) of sell orders to the Onecoin cash account in the onelife backoffice, which is necessary for withdrawals.
The lack of info from “the Company” about this issue is appalling.
Someone, put her to jail! Where are financial authorities who must arrest Ruja and the whole company of her accomplices-criminals.
@MikeR – the technical analysis from this source are BRUTAL:
I, for one, have blown the “Blockchain Analysis parts 1-6” UP pretty substantially on Twitter and Facebook (as many fellow truth advocates have been) and I’m now wondering whether xcoinx being down just MIGHT have something to do with attempting to mitigate the damage and publicity of this analysis from the computer science perspective(?)
Of course this is speculative. However, I’ve tagged various Global Law Enforcement and government authorities in some of these tweets and messages, clearly demonstrating Onecoin to be nothing more than “vaporware.”
The way these technical experiments have been carried out have been brilliantly designed to allow ANYONE with access to the OneCon back office (AKA: CoolsDAQ platform a la BigCoin/ Loopium) the ability to replicate the testing and findings; thereby reaching a universal conclusion.
As such, further media or internal (IMA) observations/ verifications of the conclusions could achieve widespread panic, criticism and uproar (albeit OneCULT’s target victim is likely not savvy enough to even understand what their eyes behold).
If OneCULT technical shills have gotten wind of these analysis – which is assumed by now, than they will have surely already reported this situation to the KleptoQueen herself, as well as the Top Conspirators, the gravity of their findings!
Perhaps THIS may also be causing this whirlwind of pressure and cacophony, which has them reacting like screaming incoherent banshees under duress, and thereby pursuing whatever half-baked ideas they can grab onto first!
With more and more of the proverbial cream rising to the surface via REAL cryptography investigation (and massive effort by both the cryptocurrency community and fellow scam busters, bloggers, authorities and general Ponzi MLM expected DRAMA, I can’t wait for this to all finally begin playing out!
Let’s identify the only “exit strategies” they have left – which seems to be tied to this OFC “doubling” in the next month and how to liquidate un-liquidateable ponzi points into another iteration of “securities” via some “OFC” bullshit or buffalo token trading platform for compliance to deem as a “coupon event” (but surely not a “cryptocurrency”).
Interesting days ahead!
@TimTayshun/The Bulgarian Blockchain Massacre: thx for the compliments.
Stay tuned for the next episodes:
1. The Blockchain and Transactions, i.e. the data that ARE visble.
Tentative conclusion: there is a “Blockchain” i.e. an unbroken sequence of Blocks and Transactions which considered on its own are consistent, but EVERYTHING is 100% fake.
2. The Audit Reports.
Tentative conclusion: they are worthless (because of point 1.), but it is possible to come to the conclusions the auditors did, without lying.
3. The OneLife/OneCoin Ecosystem.
Tentative conclusion: the aim of the OneLife Network is not selling educational packages, but building (and hyping) a world reserve cryptocurrency.
4. Contact data of financial & consumer protection authorities by country.
Nice report, please keeping putting out the info and saving lives financially from this mess.
Excellent work you are doing here. Hope we see the end of this scam soon.
The Dealshaker Terms and Conditions and the 16 January 2017 Newsletter reveal new lies by Ruja Ignatova as well as Stephan Steinkeller.
However, during the Bangkok Mastermind Event on 1 October 2016 Steinkeller explicitly claimed, and Ignatova at least suggested, that merchant applications made with the MAB / Mobile Application Builder would get a payment function for OneCoins.
Blantant lies in the next quote, which needs no further explanation.
“Oh no MikeR, it’s not a lie, we are charging advertising fees, not transactions costs”.
Well as they say: “a liar must have a good memory”. 😉
@MikeR regarding that “we will not charge any costs to merchants to take in OneCoins.”, is not total lie at least regarding DealShaker, because according to DealShaker ToS a fee will be taken only from the fiat cash part of the deal, not from the OneCoin part.
But, I wonder if merchants need to upgrade from the free Rookie account within 14 days. Currently free accounts are freezed within 14 days if those are not updated to paid accounts…
^ well not within 14 days, but after 14 days.
Is it just me or did OneCoin mark every video from the recent Swedish event on their YT channels private?
Only videos are on Facebook.
Th newest video I see is from 5 months ago
You are right there. I have to recall this statement which was based on my conviction that Onecoins are worthless, but I must realize that they are living in a different universe.
Also “GetCoinsMined” -page seems to be unavailable, again.
It seems OneCoin really doesn’t want to let people to know how many coins have been “mined”, so also the (fake) incredibly big OneCoin market-cap is not easily available for members.
Of course it’s inconveniently big number for OneCoin. Members could wonder why the coin market-cap is over 75 BILLION euros, 6 times of Bitcoin, but nobody can sell anything and XcoinX is closed.
This coin count information has been unavailable on that official counter for months now and would have been very easy to fix.
For any OneCoin member who wants to count the coin count manually there is a way:
Check the latest block number from OneLife CryptoCurrency page.
For example at the moment, latest block is 153059.
In every block 50 000 new coins are “mined”.
So we do the calculation 50 000 * 153059 = 7652950000.
To that number we have to add the “Genesis block” coin count, which was introduced in Bangkok, which is 1986580000.
We get total number of coins at the moment:
7652950000+1986580000 = 9639530000 coins, or 9.639 billion coins.
Fake Market-cap is 7.85€*9.639= 75.6 billion euros.
^ In addition to my above message (currently waiting moderation).
Here is the link to the “Genesis block” which shows the coin amount 1986580000 for the above calculation.
It’s very pathetic that the members and even upliner IMAs have no idea about the current coin count and the (fake) market-cap. I’ve been teaching this manual counting to some IMAs personally, cause they have no idea..
(Ozedit: Link broken as of 7th Nov 2017, removed)
RE: coins mined = 0
Maybe they are trying to be transparent and honest finally?
So this is the end. I am in the IPO business and it does not take 18 months.
All you need is 3 years of audited financials and a public disclosure statement listing WHO are the owners and a description of the business. Good luck on that as it just lists those to sue.
The public disclosure statement is a legal document that can be relied upon. Any fraudulent statements by principals can be used as evidence for prosecution and lawsuits in most countries. There is not a chance they will file anything. This IPO business is just a stall while they disappear.
Since the numbers shown on the website are merely fake numbers, we do not know the true size of the scam.
I know people who have purchased over $100,000 USD worth and conned there friends into buying. One guy went to look at the headquarters in Bulgaria. It was next to a restaurent in a rented flat. He still bought in–go figure. Greed makes your blind.
You cannot force people who have a legal right to One Coins to exchange them for shares in a company. That would be illegal. They would be guilty of conversion which is felony in the U.S.
The good thing about this is if you exchange for shares, you can then writeoff the loss against your income as an investment loss. Right now you cannot as there is no basis for a loss.
I am surprised some deranged person duped by this scam has not taken matters into their own hands and dealt with them directly.
I also think those persons who “sold” the investment (packages) to friends and others are also liable.
They can be sued for misreprentation as they should have known it was a Ponzi scheme. There are plenty of warnings on the interent.
OneCoin lost its non-public Dubai bank account:
What happened? #Onecoin #scam didn’t even make Top 100 on Business for Home 2017 !! LOL. Did Ruja forget Nyuten’s latest paycheck? t.co/bdkXobVgnF
Neither has Ruja been the business woman of the year after she created Onecoin.
@ALL – Does anyone have ANY info on this so-called “Millennium Network?”
For a 200,000 user database, it sure is an elusive company to find. There is a Millennium Network in Brazil, but it can’t be the same one, as they are an ERP (Enterprise Resource Planning) Software company focused on the apparel industry. They’re 23 years old and are still active on FB with no mention of OC or anything like it.
Anyone know what or if Millennium Network is, or if it even exists?
One come to the conclusion that there is no Millennium Network with 200,000 users. A contact in Onecoin leadership from Brazil even has no idea.
At this point, this “partnership” appears to either be 100% invented (in order to claim “3 million members”) or it’s a collapsed MLM scheme under am entirely different name.
I’m leaning towards invented to sustain growth appearance. Anyone have further insight?
It looks like some sort of failed Brazilian MLM scheme.
The OL newsletter mentions the “Millennium Prime” network, which may actually be a misspelling of Milenium Prime which used to be located at mileniumprime.com The domain is for sale and archive.org shows caching being blocked by robots.txt in 2016, but you can see some snaps from 2015.
There was also this old blogspot site promoting it at
I didn’t get too involved in checking it out. Looks like most info is in Portuguese.
Looks like it might have been at least a partial revshare scheme as well.
@Chris Bailey – thanks! I’ll see if that may be it! I’d run into a brick wall. Good job.
Interesting note on the DealShitter Platform Terms of Service (TOS):
The word “Onecoin” is only mentioned 2x, while the term “coupon(s)” are listed 58x.
In context Onecoin is IDENTIFIED AS ONLY A COUPON(!!!), and therefore, legally, Onecoin is attempting urgently NOT to be identified as “cryptocurrency” within the confines of the DealShitter Agreement and Platform.
This is just ONE MORE piece of proof that even the company itself is trying to legally distinguish the two, in their strange interpretation of what may and may not be “compliant.”
Furthermore, OzDelphi has identified a hilarious discrepancy in the “Terms and Conditions” in the first sentence, which suggests to be just another hack, copy/paste job from the company, in which “the Company”/ “The Company” does not reflect the actual company, and it’s a fictitious company, like Xcoinx. Total amateur hour!
Career Ponzi-Pimp, thieving criminal scammer, Tom McMurrain’s website: thecoinprofit SEEMS to be disabled/ non-functional at the moment.
ALSO, The Grant Cardone website responds with “error 404” for links to McMurrain’s long-running TV Show and appears to be eliminated completely as of today.
Ironically (perhaps?) his YouTube videos with the Title, “Onecoin is NOT a ponzi / scam/ “…insert title variation here)” are still enjoying widespread duplication on YouTube. For now.
Here’s a direct link to McMurrain’s (canceled?) show on Grant Cardone TV: grantcardonetv.com/video/thecoinprofit/the-coin-profit-with-thomas-mcmurrain/
I’m going to go on the record and state that Tom McMurrain’s show, The Coin Profit (more aptly, the “ConProphet”), on Grant Cardone TV, has definitely been suspended, if not terminated.
It is DEFINITELY not listed under “Shows,” where it was formerly. However, there is a tiny logo/image for it remaining under the “Contributor LINK,” here: grantcardonetv.com/contributor/
Likely a design reorganization delay, rather than anything else.
I had recently notified a luminary in the early Gaming/ Cryptocurrency space, Brock Pierce (former Director of the Bitcoin Foundation, BTC very early adopter [allegedly “misplaced” ~50,000 BTC when it was nearly worthless many moons ago], entrepreneur and Venture Capitalist to over 70 start-ups), that scammer, McMurrain had apparently tricked him into an interview for his TV show; which he would have NEVER agreed with, if under Full Disclosure.
Nevertheless, an Episode DID air, which was FORMERLY “Tagged” with his name, bitcoin, Onecoin, and “The Bitcoin Killer.”
Having brought this to his attention, and re-introduced it TODAY, over Twitter (@brockpierce), as a follow-up reminder to a quick exchange we had last Friday at a Blockchain Conference at UCI; I fwdd the image and asked, “…What’s UR thoughts on Onecoin?”
Within an hour his Twitter response was: “@ezCoinAcces Onecoin is a scam!”
4 hours later he Tweeted: “@ezCoinAccess Link please.”
At this point, the image I’d sent earlier (which I hadn’t “linked” at the time) returned an “error 404” message.
I replied with both an screen shot AND the link (as well as later links to BMLM contributor K.Chang and other Public Records referring to McMurrain’s scamming history, flee from U.S. Prosecutors, Capture and Extradition [from Panama, where he so happened to be also scamming new victims], and then Conviction & Sentencing to 7yrs, 3mo.’s [for which he served 68 of those in prison], and his Court Order to pay $7.5M to his VICTIMS in that particular case).
***on a side note: does anyone know if he ever completed payment to the victims he stole from and whom he spent their money on his “lavish lifestyle and unsecured loans to friends???”
While the Twitter exchange took place publicly, it is unclear whether it was Pierce’s actions, independent actions, Grant Cardone, directly (or a combination thereof), whom made his Onecoin SCAM recruitment instrument, THE TV SHOW (about unlicensed, unregistered MLM Scam recruitment) “disappear” – assuming the absence of which isn’t just a “technical glitch.”
I phoned Grant Cardone TV and confirmed McMurrains Show was “no longer being sponsored by Grant Cardone.”
I’m guessing they wouldn’t comment on the reason hey 🙂
Good. That felon doesn’t deserve to receive even the slightest hint of credibility.
@Oz… I received numerous comment notifications with you posting tests. Not sure what that was about.
Sorry that was me testing caching. If you’re subscribed to comments on this post you might have got some email notifications.
It appears that some of the OneCoin Ponzi Scheme leaders here in the USA are jumping ship.
Kevin Foster said this today:
Does this mean he is leaving OneCoin (and his investors) behind and headed off to profit from the next hot Crypto deal?
How will he explain this to his OneCoin investors? Of course, his partners-in-crime will just follow him into the next Ponzi Deal, invest their money and encourage their friends, family and Social Media contacts to do the same.
Of course, this will all come tumbling down when the regulators take action and start the claw-back process.
I give Kevin credit for having one thing right. It is #GameOver for con artists sell investments without proper registration with the SEC via a Ponzi Scheme.
And….. it couldn’t happen to a nicer bunch!
I’ve been told that they opened a bank account in Belize, any info about that ? The company is called “trade by trade”.
Today Latvias biggest newspaper published info about OneCoin scam/pyramid scheme on 4 pages!
Could you please give us the link to the Latvian Newspaper.
@MOI here you are
Looks like a nice little place owned by OneCoin member Srgjan Kavaj.
Will be interesting to see if any legit businesses owned by non-OC members give the platform a try.
Thanks for the link.
I know now for a fact that there are commissions which haven’t been paid out in >1 month. I expect this trend to become more common and lengthy until…..
Is OneLife/OneCoin dead? over? finished?
So is OneCoin now ProCoin?
OneCoin is, has been, and forewer will be “future of payments”.
Rationale: The possibility to use the coins is ALWAYS coming in “the future”. You just can’t pay for anything with Ponzi points, no matter how hard you wish for it.
I’m pretty sure that people who bought “educational package” will indeed feel they have been learning something from this.
One Life Newsletter Time.
Article 7 in the Onecoin series, “Mining” outside the “Blockchain”: onecoinonelifefacts.blogspot.com/2017/02/analysis-of-onecoin-blockchain-part-7.html
More convincing proof that the OneCoin Blockchain is just a simulation program will never be found.
@Oz thx for making that summary. I promise to do it myself next time. 😉
I took it from your article. I like to provide some context to links posted, makes for a better reading experience.
@MOI – the NEW OneLie NewsLetter has a full section on “Whistle Blowers!” lol
This one is a little off-topic, but I think that it shows the recent decline of this scam.
I have been following One Network Services (the company that hires One Coin personnel) job offers on Bulgaria’s biggest job platform and for the first time their last job offer is around a month ago. I remember them having a couple of offers a week.
Is it true that OneCoin has stopped paying commissions to their securities sales reps who bring in the new investors?
Friend of mine is selling Onecoin packages and still getting paid. This is in Thailand.
“still” 🙂 that’s a keyword. Let’s see how long this “still” will last.
45second clip: Onecoin on Pakistani News: youtu.be/Fk23KMOc-bQ
Scary (translation please?)
Blast from the past – a fellow OC scam buster found this NMLM relic on Kari Wahlroos. I’m posting here for any investigators/ readers following the saga
Looks a lot like this bogus tv channel that promotes Onecoin: facebook.com/muhammad.zafar.77736/videos/10154883049973771
Web site of this realiable news channel: city41.tv
hmm, that clip is in urdu [pakistani language], which is constructed from a base of hindi [indian langauge] mixed with a heavy dose of arabic languages.
though i cant follow every word [i know only hindi], i can translate the gist of it, broadly speaking.
the first clip in your post#86, is a report about how digital currency is being promoted by china and india, in preference over paper currency. digital currency solves problems related to money laundering and terrorism and is thus being promoted.
it goes on to add that the USA, UK and germany are providing university courses in digital currency. it concludes by stating that a seminar was held in central london to educate the public about digital currencies.
this ^^ clip does not mention ‘onecoin’ or ‘onelife’, as far as i can tell. but it looks like onecoin scammers were present at that london seminar shown in the clip, and one pakistani fellow ‘hamza khalid sheikh’ appears in the second facebook clip in onecapita’s post#88 too.
the second clip is a report about pakistani cricketer saeed ajmal announcing that he had joined the digital currency onecoin. the ‘young traders citylight group’ headed by hamza khalid sheikh had donated 100 onecoins to ajmal’s local cricket training academy in faisalabad, pakistan.
the TV channel city41 appears to be a local channel reporting faisalabad city news.
saeed ajmal was banned from international cricket in 2014 [wiki], so who knows what has motivated him to join onecoin [money problems?] or he may have been misguided by smooth talking scamsters like hamza khalid sheikh and others.
channels like city41 will report on any small local event/news, and cannot be considered to be a serious news channel by any stretch.
@alkali – thx 🙂
@Oz – Onecoin USA is officially CLOSED. Yesterday, Tom McMurrain informed his victims that they were all screwed and can’t sell in the US. Of course they can’t do anything anymore, including participate in either #DealShitter, the OFC scam, OR Xcoinx to sell whatever points they’ve accumulated.
In typical brain-washed, cult fashion, they thanked him for his dedication and hard work.
The focus of the Zoomcast, however, was the “excting news” about a new “coin project” called PRO Coin! Interestingly, from what I can tell do far, PRO Coin seems to be a “legitimate” Alt-coin (AKA: shitcoin) project: decentralized, limited/ structured pre-mine, transparent (wow, right!), etc. The actual developers & team are named.
McMurrain’s involvement in the actual project itself is unclear. However, there APPEARS to be some MLM-ish side channel for somehow promoting it and “building a team.”
I’m not seeing the correlation yet on how this part actually works, or if it is even condoned by PRO Coin itself. More investigating is needed.
The most hilarious news to report though is the stark 180° shift from Tom “Onecoin-is-not-a-Ponzi/Bitcoiners-are-jealous/Onecoin-only-sells-education” McMurrain’s widely distributed video(s) in the subject to his direct quote to his Team:
So, my question is WHAT HAPPENED TO “The Bitcoin Killer!?!”
Ps. McMurrain said he will still be scamming people internationally though. And he invited his Team to do the same, as long as it’s “outside the U.S.”
Well, if heroin is legal in, say, Amsterdam, but not the USA, isn’t that the same as saying, “My U.S. Team can still sell heroin over the internet … So long as they don’t sell it here in the U.S., cause that’s illegal!. MmmKay?
Someone sent me the following:
So why doesn’t OneCoin just register itself with the SEC?
Oh right… Ponzi scheme.
@E-L-N – HERE is the newly released and SCATHING Onecoin Article:
^^ Is that behind a paywall or is it just me?
2 others just asked me the same. Initially it was. So I copy/ pasted original headline (in Norwegian) into a Search Window and was able to locate the full and accessible story.
I actually copy/ pasted the whole thing using Chrome Translate Article and saved it. Out is lengthy.
(I hit “send” to soon. Sorry)
(Cont.) …it is lengthy
Of you are unable to access it, as described, I CAN post in here(?)
But, yeah. It’s quite long (AND JUICY!!)
If I copy and paste the URL I get a paywall.
If I copy and paste “Hun lokker nordmenn til å satse store penger på omstridt nettvaluta” (with quotation marks) into Google search and click the first result I get the article.
Aftenposten (Norwegian for “The Evening Post”) is Norway’s largest newspaper.. So, very good exposure there!
Ps. You can erase my “nice” above as this line)
I can get the article from Google cache. No other way for me, but it works.
I archived the Aftenposten article here: archive.is/qMx1s
But the webcache link seems to be actually better because archive.is didn’t save the “copied educational material” example.
So webcache-link is better as long as it works.
What does “creeping/crawling felted luta” really mean?
Within the context of
I think it means “talking out of your ass”.
IMO the best bit of the article is the Economist saying they were told Ignatova was credible and how, in hindsight, corporate sponsors no longer get to talk at events.
There it is again. I think it’s a bad translation for “cryptocurrency”.
Wait I take that back, this is the best part of the article:
That genuinely had me LOL.
And here’s OneCoin’s UK lawyers, Carter-Ruck, blatantly lying about the business opportunity:
So what’s the difference between the copy and pasted education I get for 5500 EUR vs. 225,000 EUR?
Free tokens my ass.
@Oz – “Free tokens my ass.”
Not to be redundant, but Mr. Scam McMurrain put it perfectly:
“…And if you’re SELLING TOKENS, haha, you’re selling a Security. And if you don’t have a Securities License, than that can be a real issue. So, just being straight-forward with you.
I think that …that …was probably the …uh …the …the …’lynch-pin’ that kinda …uh …prevented us from …uh …taking off in the United States with Onecoin”
Coming from the TOP Onecoin Ponzi Leader in the United States, this seems like PRETTY CONCLUSIVE PROOF that Onecoin is officially DEAD in USA. Is that a logical deduction?
***Begin FUD …NOW!!
Someone may want to see Tom McMurrain say that on a video. Here you are. 😉
Tom McMurrain: Onecoin is selling securities (tokens). Can’t operate in US.
@acid – you’re welcome 🙂
he says that ‘tokens’ were included in the nomenclature of securities law after sept 17th [2016?] and this created an issue for onecoin in the USA.
there has been no change in the securities law in the US in sept 2016.
whether cryptocurrency tokens are ‘securities’ is a gray area and the SEC is probably watching this space and not being heavy handed because they don’t want to stifle innovation in cryptocurrency technologies.
meanwhile, developers in the cryptocommunity are attempting to construct an ethics framework which will make crowdsales of cryptocurrency tokens not ‘securities’ by providing for complete decentralization and transparency.
so, mcmurrain is bullshitting when he says that ‘tokens’ were included in the nomenclature of securities law. as things stand, tokens are very probably securities in the US, ever since cryptocurrency [and onecoin] began, but the SEC doesn’t go after you unless you are running a blatant fraud, which onecoin is.
besides, scammers like mcmurrain have always claimed that onecoin sells education packages and not tokens, so what is he blabbering about?
the truth is that onecoin is now in the death rattle stage and mcmurrain wants to move along to his next scam, so he’s distracting his onecoin investors with big words like ‘nomenclature’ and ‘securities’ while he slams the door in their faces and makes off with their money.
@anjali – thank you for the clarification. I wasn’t looking forward to going through the SEC by-laws dated September 2016 to look for the “nomenclature” of their declarations in order to double check this.
You have offered well-sourced information here and have established credibility in your research. (We) very much appreciate that your due diligence and conclusions have always been solid and verifiable.
To that point: the term “tokens” DOES have significant implications into a lot of what the crypto/ blockchain community is building! Starbucks has rebate points called “stars” (or something of the sort) which are essentially token points.
The age of new “cryptocurrencies” as global, macro-economic, and DECENTRALIZED “currency” solutions are dwindling, being that secure payment forms via solutions like bitcoin (and frankly just one or two newer innovations on that front – sick add Monero and maybe one it two others which focus in true privacy) are closing.
2017 is heralding in MUCH greater technological and microcosmic innovations, which are far beyond simply “digital money.”
2017 will see a surge in “asset-backed” Tokenization and “smart contracts” using BLOCKCHAIN solutions as “trustless systems,” wherein MATH PROVES validity of transactions via “Proof of Work.”
Anonymous OR personally identifiable cryptographic signatures (be it bio-identifiers, 2FA, or IoT mechanics) will prove whatever levels of verification may (or may not) be required or necessary to transact.
These “crypto-kindergartners” are eons behind the technologies, as they stand today, and are prone to such a novice understanding of the whole industry, be it their laziness, greed, or simply sophomoric outlook of weekday is taking place before their eyes, and frankly PASSING THEM UP!
My point is that, as you said, cryptographic “Tokenization” is NOT even within the spectrum of their comprehension, at the levels we are discussing.
Onecoin scammers (and victims) are either too “new” or simply too brainwashed to even know the simplest definitions of what the future of TRANSACTIONS behind. And it’s not just “money.”
These MLM crypto ponzi’s are like the washed out “boy bands” of the 90’s, and they don’t even know it!
Part 8 of the series is just published: NOLINK://onecoinonelifefacts.blogspot.bg/2017/02/analysis-of-onecoin-blockchain-part-8_13.html
The topic is the OneCoin Blockchain explorer, which in fact is simulation software connected to a database.
We have given a number of recommendations to the OneCoin sofware developers, to help them improve their simulation software.
NB: The attempt to be funny in this article is once-only, we promise!
BANK OF UGANDA ISSUES OFFICIAL WARNING AGAINST #ONECOIN SCAM!
I’ll try to type up the transcript quick
BANK OF UGANDA
WARNING TO THE GENERAL PUBLIC ABOUT ‘ONE COIN DIGITAL MONEY’
OPERATIONS IN UGANDA
KAMPALA – Tuesday February 14, 2017 Bank of Uganda (BoU) wishes to notify the general public that the entity “ONE COIN DIGITAL MONEY” is not licensed by the BoU under the Financial Institutions Act, 2004 and is, therefore, conducting business outside of the regulatory purview of the BoU.
The above entity’s website is: onecoin.eu and it has opened up an office on the Fourth Floor, Mukwano Courts, Buganda Road, Kampala.
The company is still in its formative stages but it is aggressively encouraging members to buy digital money and promising very high returns and rewards on “first-come-first-served” basis.
Bank of Uganda warns the general public that whoever wishes to invest their hard earned savings in Cryptocurrency forms such as One-coin, Bitcoin, Ripple, Peercoin, Namecoin, Dogecoin, Litecoin, Bytecoin, Priomecoin, Blockcoin, or any other forms of Digital Currency is taking a risk in the financial space where there is neither investor protection nor regulatory purview. The public is hereby warned that whoever deals with “ONE COIN DIGITAL MONEY” does so at his or her own risk.
The public is strongly encouraged to do business transactions with only licensed financial institutions. The list of these institutions can be viewed on the Bank of Uganda website (bou.or.org).
Bank of Uganda assures the public that it will continue to safeguard the stability and integrity of the financial sector. For further enquiries, please call (removed) or email us at (removed).
Professor Emmanuel Tumusiime-Mutebile
Honey, you know how we had that really nice night planned…
The Official Govt. Warning appeared in the Print edition of the NewsPaper called “New Vision.” The New Vision is one of two main national newspapers in Uganda.
(My friend in Michael Kimani in Nairobi, Kenya Tweeted it this morning)
I hate pictures of newspapers when I can’t find alleged articles that were photographed on their website, just like the couple articles that OC had pictures of.
I couldn’t find the notice on the New Vision site, but it is on the Bank of Uganda site….
I’m in the process of putting an article together using the same link. Will be up shortly.
Ruja needs more money from the braindeads coiners…
Tempting with New PowerPack and extra Split if you upgrade.OL Newsletter on DealShakerDay.
I thought DealShaker was supposed to open today, with about 6000 businesses on board. Just says Coming Soon. I wanted to buy some ball room gowns for my wife!!
While waiting for DealShaker, (perhaps Ruja will sell her Gowns) you can spin The Winter Wonder Wheel…
indeed. it could be named the ‘allegedly pregnant’ line.
Lee Oshea Thinks he will get an ipad mini 4 for 54.29 coins. I think thats around 22 EUR in coins.
Hes Deluded. Probably a dummy IPAD
The projector that he posted is half that price elsewhere. Similar to on i have and I paid £149.99. People are going to be so upset….
Interesting to see that the number of deals offered on Dealshaker is actually declining. 264 deals yesterday to 261 deals today.
Maybe they will spin it that the demand is so high the supply can’t keep up, but it looks to me like the site is dead on arrival.
Even if it will slowly grown in the next weeks it clearly is not what all the OneCoin victims expected.
In the tradition of Dealshaker, with overpriced worthless junk, word on the street is that OneCoin will be releasing ” OneCoin Monopoly ” just for Can Labeans (Ken LaBein), so he can brag that you can buy real estate, houses & even railroads with your oncoins.
I am sure it will make his top 10 list. Now he can continue to lie & spread bullshit to continue to rip of what few friends & family he still has…. he is a real POS (piece of shit).
You probably look at the vertical menu at the left, but that’s only a selection of the top 7 categories with the highest number of deals. If you “hover” the mouse over the horizontal menu bar at the top (Travel, Home & Auto, etc) you see all figures.
However, your conclusion is correct: the number of deals IS declining. I’m keeping daily statistics on the TOTAL number of deals:
– Thursday 16-Feb-2017: 409
– Friday 17-Feb-2017: 351
– Saturday 18-Feb-2017: 339
– Sunday 19-Feb-2017: 330
Worth mentioning is that these numbers INCLUDE “sold out” deals, but also fake deals. One of my favourites is also one of Ken Labine’s favourites, it made his personal “Top 10”:
This hyperlink refers to an “ON LINE” service with a price of 0.20 EUR + 0.10 ONE : “Search from the largest global network of private jets with over 7,000 available aircraft.”
The description refers to a website: NOLINK://villiersjets.com/?id=1106
This deal is a joke (I like it) but it also shows what an utter idiot Ken Labine is. The screening of merchants and deals is a farce too.
With almost 3,000,000 paying OneLife members and 8,000 registered “merchants” (according to news supplied by the company) DealShaker is DEAD ON ARRIVAL for sure. It’s a Total Disaster and one of the signs that the final countdown to the total system collapse has started.
But I realize that this was the expectation a year ago already.
The iPad cost 54,29 ONE which (with Ruja’s self-defined coin value of 7,75 EUR) translates to 420 EUR.
Naturally the seller could never sell his/her coins for 420 EUR (xcoinx exchange closed, no buyers, etc.) but that’s another topic then.
@MikeR, ah yes, I was looking at that menu. Really nice analysis, and it shows the site is doing even worse than I thought.
I was bored and looked at the deals. I tried to filter on 0 EUR. It failed to filter correctly. Everything still came up with ONE + EUR (even upwards of 1700 EUR). If I made it at least 4 EUR, then it would filter correctly.
The items that are up are absolutely useless if there’s 0 EUR involved. Like a guy selling DVDs on how to market and another person selling a catalog of pictures of his paintings.
People are trying to sell services and things that I have no clue what it is by looking at the pictures. Everything that truly has a monetary value has to be bought with EUR and for more than you can get off of Amazon.
It is kinda brilliant to be able to utilize Microsoft Office to keep track of all the comings and goings of OneCoins.
Holy crap! #OneCoin bombshell. See other thread:
Looks like dev will talk open!!!!
Onecoin’s #DealShitter merchant platform is a disorganized cacophony of stratosphericaly overpriced plastics, self-organized shipping (or pick up directly from merchant), questionable rentals and luxury items which return 404 errors when clicked, and 50% commission to Ruja in any cash placed on the table.
Oh, and a $40,000 hand bad from China. Oh, of, and a Shock Exorber for a year 2001+ Renault automobile.
To check out the most recent analysis, check out Ari Widel’s blog: kusetukset.blogspot.com/2017/03/onecoins-dealshaker-would-be-better.html?m=1
#DealShitter is pretty much Dead on Arrival. But then again, what would you expect from a company with a 100€ BILLION market cap on their “*cryptocurrency?”
oz, i cant copy anything on behindmlm since yesterday.
for instance, i cant copy the link to ari widells article provide by tim tayshun in the comment above?
i can copy from other sites so the problem appears to be on your end?
Should be fixed now.
what will happen to may coins transfer to xcoinx, they have to do something about ..
One Coin is touting that the “Court” says they are legal and they are Not Guilty.
The Court did not bother to even look into the case because One Coin is technically out of business. As such they can no longer do damage.
Recourse has been left to civil suits by those conned out of their money. Anybody that bought the packages are stupid and greedy- a dangerous combination.
If you’re referring to the cointelegraph article, you need to read all the way to the end where it says
Personally, I think it was a poorly executed April Fool’s Day joke and the last sentence doesn’t convey that it’s a totally fictitious article clearly enough.
Which court and legal of what? What country? Court can only rule guilty or not guilty of a certain crime.
One Coin makes up news. The Court said nothing they simply dropped the case as OneCoin is technically bankrupt. They did not say it was legal and they did not say thye are not guilty.
I am mystified. What are you trying to say to us. What court was involved and in what country?
Who made the judgement regarding technically bankrupt and where was this quoted
@rscam – please re read the question from k.Chang and take another shot at it. Thx
How low will they stoop trying to pretend Ricjard Branson backed One Coin.
well that is just one representative posting the Branson stuff so lets not lamb baste the entire organization..
I have a friend who is a lider in Onecoin in my country. In his network are a few thousand members.
He tried to convince me that it’s a good investment oportunity. At first I have been tempted to invest a few thousands. Thanks God, I have prayed and God protected me.
I have searched the internet and concluded that it is a ponzi scheme.
Initialy in 2015 he invested 55000 euros, in 11 Tycoon trader 5000 euro accounts. After he earned lots of money of the bonuses from the investors he signed up, he bought tens of other packages.
He waved at me 195000 euros. Now he has got 3 houses, fancy car. He told me that he and his followers from his network have exchanged real goods for ‘virtual’ coins. This way he has got a house in exchange for access to a couple of his accounts with maybe 60000 coins each, don’t know exactly.
At that time the value was 0,50 eurocents. He told me that they have exchanged different goods for coins (Onecoin accounts) among them.
My friend posted on facebook that some people wanted to buy coins with cash. He told me that someone wanted to invest 30.000.000 euros. I’m not kidding.
I know that he is not a liar. He realy believes in Onecoin.
He dosen’t know english. I told him what I’ve red on internet. He said that dosen’t know what can happen later with the financial markets.
A few common friends have joined Onecoin. Another friend invested 1000 euros just to test it and our friend gave him access to one of his Onecoin accounts. Another friend joined and recruited 2 business persons who invested 36000 euro and another one 700000. Another person I know borowed 36000 euros to invest. It is crazy.
Thanks God that he stopped me from losing my money!
Does anyone know how to take action against Onecoins or the affiliate who convinced 4 of us to buy Onecoins with the same bullshit story that when they go on the stock exchange we will be able to sell the Coins with a profit.
@Judy Campbell – find me on Facebook and PM me. I’ll invite you to a WhatsApp group of ~100 ex-Onecoinists who are working on this.
OneCoin = Under Maintenance!
Its a joke, for over a year their pages dissapear, or goes under maintenance. Now there is not a way to sell coins, have been removed long time ago. I’m soooo stupid falling for this scam.
Please do yourself a favor and buy a real crypto like BTC or even ETH. Anything is better then Onecoin or should i say FakeCoin!
If Judy Campbell is UK or IrIsh based give her my email address and I will forward some templates to her to take action
Hi cryptokill, what do you mean, templates to take action? I have the same problem, invested quite a lot of money now I want to sell don’t know what to do..
You didn’t “invest” your money. You sent it to a known felon in Bulgaria.
She has your money and there it will stay. Those nose jobs aren’t cheap, ya know?
Just curious, are you a resident of the USA?
I have model mails to your uplines seeking return of your investments ,to your downlines urging them to do the same and allowing you to apologise with some sincerity and make amends and to the regulatory bodies in your jurisdiction.
They will need to vary dependant on whether you were active or passive, what country you are based in and the level of investment you made.
Also draft letters to any lawyers who attack you on behalf of OneCoin. I also have some strategies to get media attention and the letters will be there for the record when arrests are made and receivers are appointed.
No, I live in the UK. I haven’t been active so I don’t have a downline.
@ Therese – Sorry for your loss. Live and learn, eh? Not sure how it works in the UK. Here in the USA, investors can go after the unregistered securities rep who sold it to them.
I ran a Google check and found these – FYI
There’s a OneCoin Victim Support WhatsApp group which has over 120 members. Many from UK. Contact Jennifer McAdam for further info:
Kieron Vaughn of the London police is in charge of major investigations against OneCoin UK and you are asked to leave the complaint details on line and they get back to you -unless you are being threatened in some real sense . An Officer will then ring you back to confirm your statement .
I would suggest that you write to your upline ,copy the grandfather upline (next up. Also send a copy to Irina Dilkinska the Corporate Lawyer in Bulgaria) and ask for your money back.
Jennifer McAdam (see above) has a draft mail which I prepared for such a possibility and just show her this post so that she is prepared to let you review it. It accuses the downline of mis-selling an investment product for which he is responsible and is not licensed to sell.
this will mean that you will need to be terminated fro OneCoin and you should make noises with Dilkinska and she will probably arrange for you to be fired, You can appeal but that will get you nowhere -send your appeal to Ruja-she doesn’t like the public writing to her.
You can then take your upline to the Small Claims Court (assuming it is less that £3000 investment(I think as I do not now live in UK) and there is only asmall registration cost . You will need an address to serve the claim and in some circumstances in can be served by email but you will need to speak to the Courts Services officer..
There will be no need for solicitors but keep it low key as if it is seen as a major case the judge may refer it to a higher court.
Jennifer has more information and there may be calls for a so called class action which is made up of many claimants but you will need to have a common upline as I can’t see anyone turning up from Bulgaria . Peter Shaw was the main Pioneer in opening up UK and he is on a number of YouTubes saying as much.
Other strategies include advising all other known Affiliates of the progress and /or contacting newspapers. There is talk of Rip Off Britain (BBC)doing a Programme on OneCoin and they will want interviewees.
Remember that you will forfeit your (worthless) coins when you are terminated so there will be no shsres etc in the future. However keep the paperwork as you will be entitled to recover some of your losses from a Receiver when this scheme crashes
For those of you who hve downlines.
For those of you with downlines it is a little bit more complicated abut again there are draft mails
Hope this helps
Hey I hope your are all well 🙂
RIGHT! where do I start! I was introduced to ONECOIN around 2016 September. There was a *ONE OFF* promotion where I would double my mined tokens and would get double the amount of coins.
I was also informed about the MLM side of things where if bought people in to the business I would get 10 percent from what ever package they bought.
MLM – MARKETKING – SALES MAN JOB – call it what ever. I was never interested in promoting any type of business. Don’t care about bringing people in or selling. I perceived this so called * opportunity * as in investment.
SO after I was fed the wonderful new of how much money I would return I invested. At the time you WERE able to sell coins.
I was even shown how to do this on their internal site (before X coin was launched) So I thought why not ay. I have a day job that pays. Why not make a quick buck or two.
2017 TODAY 12/06
My conclusion: One coin is a beautiful pile of s*** MLM scheme where you are drawn in by the tokens mined turned into potential cash. DONT BE FOOLED thinking this is an investment.
If you want to be happy by looking at a screen where VIRTUAL COINS = EUR that you cannot cash out this is the place to be.
You cannot with draw any money due to their CASHING OUT platform ( X COINC X ) being closed due to maintenance.
Apparently they going to go public in 2018 but some thing tells me they are not.
The leaders cannot USE THE WORD INVESTMENT! If you want to be a sales man by a;; means use your fabulous selling skills to bring in people but eventually people will want answers and you WILL NOT be able to give any.
DONT USE THIS AS AN INVESTMENT OPPORTUNITY.
mm well from what i understand onecoin offers educational packages through onelife which then enables mining of coins free.
network marketing isn’t everyones cup of tea. i personally keep an open mind about all of this,good and bad.. (Ozedit: Offtopic derail attempts removed)
Know anyone who bought an “educational package” and doesn’t have onecoin Ponzi points?
The fact is nobody would pay thousands of dollars for copy and pasted Wikipedia articles without the attached Ponzi points. Ergo OneCoin is and always has been selling Ponzi points.
The “educational packages” are worthless pseudo-compliance BS.
you’re not getting your money back from new marks. this scam is dead.
I was told the price is now $USD19. Excellent. I wish to buy a sandwich. Make that a virtual sandwich with mayo.
I predict the top 5 guys plus that marketing guy in the US will be charged with fraud. Whoever gets there first will be able to confiscate the stolen loot, house and cars of the scamers.
Is dagcoin and daguniversity the continuation of this scam?
Not so much a continuation as reboot by a former OneCoin affiliate.
With OneCoin recruitment in the toilet and no money to be made, top investors have jumped onto DagCoin and are hoping to steal millions from gullible investors again.
Intriguing new Onecoin exposé (on it’s strange money laundering structure and ownership) out of Bulgaria, by Sofia’s own The Capital.
Hopefully Oz can break it down in Beyer English?
Just catching up on emails then I’ll get into the news.