OneCoin @ BehindMLM

Well, that didn’t take long. Two days ago BehindMLM reported Germany’s Federal Financial Supervisory Authority (BaFin) was investigating OneCoin. Today OneCoin informed their affiliates they have stopped accepting payments through the German bank, Commerzbank AG.

Regulatory investigations of OneCoin are spreading across Europe, with Germany the latest country to launch an investigation into the suspected Ponzi scheme.

Following the creation of an English OneCoin Wikipedia entry back in March, no less than one hundred and eight edits have been made. A large number of these have been broad revisions to the original article, which remove information critical of OneCoin and replace it with uncited marketing material. Since May 20th twenty-eight edits have been made. [Continue reading…]

One of the side-effects of the rise of MLM cryptocurrency opportunities, has been analysis and scrutiny from the wider cryptocurrency community. When it comes to MLM and compensation plans, I like to think I know my stuff. While I have a working knowledge of how bitcoin works however, the technical side of the cryptocurrency isn’t [Continue reading…]

A few weeks back BehindMLM reported on the arrest of three Chinese OneCoin affiliates. Specifics surrounding the arrests were sketchy, but we do know that three affiliates were apprehended and $30.8 million USD in assets recovered. Now in a followup article from ZSBTV, additional details about the arrests have emerged.

The elephant in the room regarding OneCoin’s upcoming “CoinRush” event, is the yet to be announced venue. Despite not knowing where in London the CoinRush will be held, OneCoin are charging affiliates up to €200 EUR for tickets. Unconfirmed word on the grapevine is that top OneCoin downline group, “One Dream Team”, were first to announce [Continue reading…]

A few weeks ago we ran a story examining the murky origins of OneCoin. Billed as a new MLM cryptocurrency lead by Ruja Ignatova, who claims she has no MLM past, we published an abundance of evidence suggesting otherwise. Through further research and the investigative efforts of BehindMLM reader OzDelphi, we can now provide you [Continue reading…]

To date OneCoin have had a tough time independently verifying their legitimacy. The company, through Ponzi points, uses newly invested funds to pay off existing investors. Thus far this has proven to be a hard-sell to anyone they haven’t paid off. Paid advertorials are of course the videos OneCoin uploads to their YouTube channel, as [Continue reading…]

Some affiliates claim they haven’t been able to withdraw funds out of OneCoin for weeks. Others claim they haven’t been paid for months. For a select few, there doesn’t appear to be any payment problems at all. Yet the growing caucus of disgruntled investors who are unable to execute withdrawals requests cannot be denied. With most [Continue reading…]

In late 2014 OneCoin seemingly came out of nowhere. Ruja Ignatova was an unknown outside of China and a select group of Europeans. Sebastian Greenwood was tied to the SiteTalk share-based Ponzi scheme. As far as the cryptocurrency space went, the OneCoin concept was presented as being entirely new. Turns out it isn’t. OneCoin is little [Continue reading…]