OneCoin @ BehindMLM

By definition, an ICO is an unregulated means by which funds are raised for a new cryptocurrency venture. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin. Further differentiating itself from legitimate cryptocurrencies is OneCoin, who claim their [Continue reading…]

Whereas we’re usually pretty on top of OneCoin affiliate arrests globally, this one from back in June slipped through the cracks. Since the start of this year, Korea’s Financial Supervisory Service has opened 27 investigations into cases of suspected infractions of the Act on the Regulation of Conducting Fund-Raising Business Without Permission this year. One [Continue reading…]

When Pierre Arens failed to appear at a recent OneCoin event in Portugal, host Kari Wahlroos claimed it was because he had a cold. Far more likely is the fact that Arens was well underway with plans to abandon his position as OneCoin CEO.

Finland was one of the first countries to announce a OneCoin investigation. Unfortunately Finnish authorities put investigating the Bulgarian Ponzi scheme in the “too hard” basket. Naturally the Ponzi problem didn’t go away, and people in Finland continued to be recruited into and scammed by OneCoin and its affiliates. With complaints from the public continuing [Continue reading…]

The OneCoin affiliate investor pool is currently divided into two camps. The first group of investors are those who believe the points in their backoffice are actual money. Since inception, all OneCoin affiliates have been able to do with their points is transfer them to other affiliates. Under the guise of trade with third-party merchants, in [Continue reading…]

Peru has grouped some of the top MLM Ponzi schemes doing the rounds and issued a collective consumer warning. The warning was issued on September 9th by Superintendencia De Banca, Seguros & AFP (SBS), Peru’s top financial regulator.

Up until recently BehindMLM was aware of and reported on two separate arrests of Chinese OneCoin affiliates. The first arrests took place in April, 2016, around the time OneCoin intended to hold a “grand ceremony” event in Harbin (north China). The event was quietly dropped following a raid on a OneCoin promotional event in Guandong [Continue reading…]

A year ago Poland’s Ministry of Justice received a public enquiry regarding OneCoin. The enquiry sought to establish whether OneCoin was potentially beaching Polish banking laws. A subsequent investigation into OneCoin by the National Prosecutor’s Office uncovered potential breaches of “unfair market practices”. The investigation findings were forwarded to the Office of Competition and Consumer [Continue reading…]

In what appears to be a response to the State Bank of Pakistan and Federal Investigation Agency announcing a crackdown on OneCoin, affiliates in Pakistan are claiming OneCoin has registered with the Pakistani SEC. Just one small problem though… it hasn’t.

Early last year Chinese authorities in Guandong arrested three top Chinese OneCoin affiliates. The arrests eventually lead to the recovery of $45.7 million dollars in stolen funds. In what appears to be a related investigation north of Guandong in Hunan province, thirty-five OneCoin affiliates were recently arrested.