OneCoin @ BehindMLM

In late January news broke that the Swedish Gaming Board had finished their investigation into OneCoin. The regulator found OneCoin to be ““a chain letter game or similar”, and promptly reported the scheme to police. Upon consideration of the Gaming Board’s findings these last two months, now news that Swedish police have launched a preliminary investigation [Continue reading…]

A few days ago we reported on OneCoin’s abrupt suspension of Mastercard processing and card loading. In effect, cards issued to OneCoin affiliates are currently useless “until further notice”. Seemingly out of the blue, the suspension raised a few eyebrows and prompted further research. That research lead to a copy of OneCoin’s Mastercard service agreement. [Continue reading…]

Amid reports that OneCoin reopened their exchange after shutting it down for two weeks, now news that the company has suspended issued Mastercards. Typically used to promote OneCoin on social media and YouTube, the cards had briefly allowed OneCoin affiliates to transfer commissions onto them and then spend the funds. A message issued by OneCoin [Continue reading…]

Following a decision by Finnish authorities to “monitor” OneCoin’s scamming of victims, as opposed to doing their jobs, Finnish media have recently been reporting on the Ponzi scheme. Much of what we already knew was covered in a recent Finnish Broadcasting Company (Yle) article, however specifics about OneCoin’s laundering of funds was news to us.

Earlier today OneCoin confirmed their acquisition of the UniverTeam pyramid scheme. BehindMLM first broke news of the acquisition back on the 5th of March. As per a OneCoin press-release issued a few hours ago;

Latvia’s Financial and Capital Market Commission (FCMC) is an autonomous public institution, which carries out the supervision of Latvian banks, credit unions, insurance companies and insurance brokerage companies, participants of financial instruments market, as well as private pension funds, payment institutions and electronic money institutions. Part of the FCMC’s duties see them engage in consumer protection, [Continue reading…]

Although not as large as its US counter-part, Norway’s Direct Selling Association (DSA) has 22 member companies. The organization claims that around 75% of Norway’s 88,000 MLM affiliates belong to one or more of their members. One of the stated objectives of the Norwegian DSA is to ‘protect consumers’ legitimate interests with respect to direct sales companies‘. [Continue reading…]

Hot off their acquisition of SiteTalk back in January, UniverTeam appears to be OneCoin’s newest source of gullible investors. As of yet no official announcement has been made by OneCoin, however in the last few hours UniverTeam investors have begun announcing a merge between the two companies on social media. The caption above reads “OneCoin company [Continue reading…]

The last investment increase OneCoin introduced was their €18,800 Festival package. Announced last November, the Festival package was a limited time promotion that ended recently. Potentially strapped for cash as withdrawal requests exponentially increase each month, OneCoin have just announced a new €25,000 investment package.

On their website, Software University in Bulgaria describe themselves as an ‘educational center that creates real professionals in the world of programming.‘ Recently, Software University listed an upcoming lecture by Ivan Kashukeev (Иван Кашукеев), titled “ONE COIN – revolutionary cryptocurrency”. The listed description of the lecture suspiciously reads like OneCoin marketing PR: Project OneCoin is a [Continue reading…]