OneCoin @ BehindMLM

Earlier today OneCoin’s CEO appeared in a YouTube video to promote the scheme’s new €118,000 EUR investment packages. Less than 24 hours after it was published, YouTube has removed the OneCoin video for violating their policy on ‘spam, deceptive practices and scams‘.

If you thought a €25,000 EUR OneCoin investment package was excessive, I’ve got some bad news for you… Following up on an email sent out yesterday, Ruja Ignatova has announced via a video a new €118,000 EUR package.

In bitcoin and other legitimate cryptocurrencies, when you exchange funds for the coin – you own the coins and nobody can take them away from you. In OneCoin, “coins” are just numbers in the OneCoin backoffice. Slowly but surely, more and more OneCoin affiliates are realizing that OneCoin’s backoffice points can be seized by the [Continue reading…]

Despite not officially operating in the US, on July 13th OneCoin US affiliates held a recruitment event in Miami Florida. In attendance were Joshua Unseth and Chris DeRose, two Bitcoin enthusiasts who run a South Florida Bitcoin meetup group every week. DeRose and Unseth recorded their attendance at the event, which revealed Carl Wilt and other affiliates [Continue reading…]

In light of OneCoin not being registered with a securities regulator anywhere in the world, the company has started insisting it’s not an investment opportunity. In a compliance email sent out on July 13th, OneCoin advised affiliates anyone caught promoting OneCoin as an investment opportunity ‘will have their account frozen‘.

On July 15th OneCoin held a recruitment event in Tokyo, Japan. Speaking at the event was top OneCoin affiliate Igor Alberts. Addressing a crowd of potential affiliates infront a whiteboard, Alberts, through a translator, shared how he built his OneCoin business.

Despite OneCoin ceasing business operations in the US last October, a group of investors continue to openly promote the scheme to US citizens. For all their claims of Know Your Customer and compliance, and as long as new investor money flows in, OneCoin appear to have no problem with turning a blind eye.

Belgium’s Financial Services and Markets Authority (FSMA) is one of the country’s top financial regulators, the other being the Bank of Belgium. As per the FSMA website, the regulator is responsible ‘for the integrity of the financial markets and fair treatment of financial consumers‘ in Belgium. Earlier today the FSMA issued a warning against OneCoin.

Back in March OneCoin lost their Mastercard merchant issuer. Turns out being part of a million dollar drug gang is bad for business. Mastercard have since denounced OneCoin, effectively announcing they want nothing to do with the company. Given Mastercard are watching for links between merchants and OneCoin’s many shell companies, we’re probably not going to see [Continue reading…]

Following an investigation by the Dhaka Metropolitan Police (DMP) Counter Terrorism Unit, two OneCoin investors have been arrested in Bangladesh.