OneCoin @ BehindMLM

Finanztest is a monthly finance niche magazine published by Stiftung Warentest, a German consumer organization. In the September issue of the magazine, Stiftung Warentest has published a warning against investment in OneCoin and SwissCoin.

Ethereum is ‘a public blockchain-based distributed computing platform, featuring smart contract functionality‘ (Wikipedia). In a nutshell, third-parties can use the Ethereum platform to create applications that use blockchain technology and its Ether cryptocurrency. Ethereum is currently the second biggest cryptocurrency in the world, with a market cap of $951 million and $11.53 value. Naturally you’d expect [Continue reading…]

On July 29th an optimistic Ed Ludbrook announced on Facebook: Australia is launched! Perth rocked. Melbourne tomorrow, then Sydney, Gold Coast and Cairns! See – OneLife-OneCoin Australia/New Zealand for booking. Unfortunately for Ludbrook, his Melbourne event didn’t go quite as planned…

Cyber crime police in Hyderabad, India have apprehended the owner of 3G Coin. BM Jagadeesha, was arrested in Bengaluru by the Cyberabad cyber crime team on July 16 and is now on remand. Jagadeesha’s setup at 3G Coin was typical of many Indian-based MLM underbelly schemes.

OneCoin aren’t happy about YouTube terminating their OneLife account, and have threatened to take “legal action” against the company.

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‘.