OneCoin @ BehindMLM

In what appears to be a followup to their initial warning back in March, Belize’s International Financial Services Commission has issued a second warning against OneCoin.

In a (very) brief publication, Luxembourg’s Commission de Surveillance du Secteur Financier has issued a warning against OneCoin.

Specifics are sketchy at this stage, but on August 24th Pakistan’s City42 news reported a government crackdown on OneCoin. City42’s report was picked up by the Pakistan blog Tech Juice, who provided a more English-friendly version of the announcement.

Finnish authorities were among the first to announce a police investigation into OneCoin. Unfortunately that investigation focused on whether or not OneCoin was a legitimate cryptocurrency. That saw the investigation stall when became apparent Finnish authorities had no way to verify if OneCoin had a cryptocurrency. That was a year and a half ago, with [Continue reading…]

When Italy’s Antitrust and Consumer Protection Authority (AGCM) banned promotion of OneCoin last year, OneCoin responded with pseudo-compliance nonsense. Not surprisingly, the AGCM took no notice and pressed ahead with their investigation. Eventually declaring OneCoin to be a “deceitful Ponzi scheme”, banning the company outright and last week, slapping it with a €2.5 million euro fine. [Continue reading…]

In what appears to be a response to solicitation of investment into OneCoin across the country, the Bank of Mauritius has issued a public warning.

The Italian Antitrust and Consumer Protection Authority has fined OneCoin 2.5 million euro for being a pyramid scheme.

Chris Principe’s defamation case against Tim Tayshun continues, with the latest seeing a motion for entry rejected and filed answer to Principe’s complaint. Less than twenty-four hours after the deadline to respond had passed, Chris Principe’s attorney filed for an entry of default with the Court Clerk.

Remember Marcelo Garcia Casil? He’s the guy OneCoin hired to write a blockchain whitepaper back in May. Given it’d previously been all but confirmed OneCoin didn’t have a blockchain, Casil’s appointment generated significant interest. In the aftermath of the whitepaper announcement, Casil confirmed the work he did had nothing to do with OneCoin’s “existing IT”. This seemed [Continue reading…]

Hire a law firm to send out some extortion threats, tell your investors and sit back and watch them flood social media with claims websites all over the world are getting sued. Turns out in the real world, a Ponzi scheme wishing to silence reporting of financial fraud is a little more complicated.