Coin Leaders Review: DasCoin is a OneCoin Ponzi points clone
The Coin Leaders website states that the company is
operated by CL Singapore Pte. Ltd., which is based in Singapore.
CL Singapore is wholly owned by Coin Leadership Limited, based in Dubai.
John Pretto (right) is identified as Chairman of Coin Leaders.
John Pretto is an accomplished, innovative and entrepreneurial technologist with over 20 years of senior management experience in information technology, marketing and operations.
Past positions include serving as Chief Technology Officer for R66T (enterprise Wi-Fi), Chief Operating Officer for ComF5 (formerly DigitalFX – digital media marketing platform), CTO and Co-founder of HelloNetwork (streaming media technology), and VP of Technology for SmartConnect (video surveillance for gaming).
On the MLM side of things John Pretto was actively promoting the OneCoin Ponzi scheme last year.
Before OneCoin Pretty was promoting NuVerus, a black seed juice nutritional MLM opportunity.
Pretto appears to have gotten involved in OneCoin in early to mid 2015. Whether he is still involved in OneCoin is unclear.
Read on for a full review of the Coin Leaders MLM opportunity.
The Coin Leaders Product Line
Coin Leaders has no retailable products or services, with affiliates only able to market Coin Leaders affiliate membership itself.
The Coin Leaders Compensation Plan
Coin Leaders affiliates invest up to €25,000 in DasCoin, a “hybrid cryptocurrency” run by Hong Kong based DasCoin Limited.
In exchange for their investment, Coin Leaders affiliates receive a “software license”.
These software licenses makes it easy for anyone to receive cryptocurrency – directly from the source.
There’s no need to buy coins on a currency exchange, or get involved with the complexities and hassles of a cryptocurrency “mining” process.
Instead, CoinLeader software enables you to help build the distributed network (on which DasCoin operates) and receive DasCoins in return.
Everything is done for you!
The more funds invested into software licenses, the higher the assigned value to DasCoin.
Through their software license, Coin Leaders affiliates receive DasCoins via “cycles”.
As an incentive for providing Cycles to the network, each licensee is rewarded with an amount of DasCoin calibrated to the level of the licensee’s contribution.
In a nutshell, the more a Coin Leaders affiliate invests the more DasCoin they receive.
- Standard – invest €100 EUR and receive 1265 cycles and 1 upgrade
- Manager – invest €500 EUR and receive 6325 cycles and 1 upgrade
- Pro – invest €2000 EUR and receive 27,600 cycles and 1 upgrade
- Executive – invest €5000 EUR and receive 74,750 cycles and 2 upgrades
- President – invest €25,000 EUR and receive 373,750 cycles and 3 upgrades
An upgrade is triggered when the rate of cycles converted into DasCoins drops below 50% efficiency (from a starting point of 100 efficiency).
When an upgrade is triggered Coin Leaders affiliate cycles that have not yet been converted into DasCoins are doubled.
Coin Leaders pay affiliates a 20% referral fee on funds invested by personally recruited affiliates.
Coin Leaders affiliates receive a percentage match on downline earnings through three levels of recruitment (unilevel).
- level 1 (personally recruited affiliates) – 30% match
- level 2 – 40% match
- level 3 – 50% match
Joining Coin Leaders
Coin Leaders affiliate membership is tied to an initial investment of between €100 and €25,000 EUR.
Call my cynical but I can’t see any legitimate reason for an MLM company to by domiciled in Singapore, owned by a shell company in Dubai and operated by someone living in the US.
The corporate structure of Coin Leaders appears to have been implemented with money laundering in mind.
That might sound harsh right off the bat but upon consideration of Coin Leaders’ compensation plan, is wholly justifiable.
Coin Leaders is pretty much John Pretto’s attempt at the OneCoin Ponzi business model.
Affiliates invest in “cycles” (OneCoin tokens), which are converted into DasCoin (OneCoins), which are assigned an arbitrary value by DasCoin, a centralized authority.
DasCoin itself is not publicly tradeable and can only be acquired through Coin Leaders investment. Oh and it fits into the whole money laundering theme by purportedly being based in Hong Kong.
The Coin Leaders website identifies the CEO of DasCoin Limited as Michael Mathias.
Surprise surprise, Mathias is/was also a OneCoin affiliate.
Coin Leaders and DasCoin present the usual comparisons to legitimate cryptocurrencies and crap about external use of the coin through a merchant network.
The reality however is that Coin Leaders and DasCoin offer up nothing more than a Ponzi pyramid hybrid.
Our premiere license … provides an unparalleled combination of benefits and yields rewards that are a 10x magnitude greater than even the Executive License!
The Ponzi element of Coin Leaders is the investment of funds which are converted into DasCoins. The value of DasCoin is assigned by DasCoin Limited, the company running the point-generation script that spits out DasCoins.
The value of DasCoins is pegged to nothing more than the rate of investment from Coin Leaders affiliates.
Affiliates cash DasCoins through Coin Leaders, who use newly invested funds to pay off existing investors.
Albeit convoluted in an attempt to pose as a legitimate cryptocurrency, this is nonetheless the definition of a Ponzi scheme.
Coin Leaders’ pyramid layer is found in its referral commissions, wherein affiliates are paid to recruit new affiliate investors.
Referral commissions are paid out of funds invested by newly recruited affiliates.
As with all Ponzi schemes, once recruitment of new affiliate investors dries up Coin Leaders will collapse.
This has already presented itself in OneCoin, amid reports that coin withdrawals by affiliates are next to impossible (the only source of income for most is referral commissions).
From the looks of it Coin Leaders appears to have been launched by Ponzi scammers who joined OneCoin and then left for whatever reason.
I’m sure that’ll end well…
Update 24th April 2017 – Coin Leaders appears to have flopped. The company has relaunched with the name “Net Leaders”.
I wasn’t able to pinpoint when the name-change took place, but traffic to the Net Leaders website began to pick up in early January, 2017.
Traffic to the Coin Leaders website went into decline in late December, so the reboot seems to have coincided with the new year.
Yup, ex Onecoin reprobates like this one, J Ryan Conley included.
The Dubai connexion again….I reckon that’s why they have to build those huge apartment blocks and hotels, they need somewhere to put all the world’s scammers. 🙂
It didn’t take much convincing for Steve Lawson and Adrian Hibbert to join DasCoin with Ryan Conley. They should all have matching DasCoin and Bitcoin tattoos soon.
Thanks DJ for the publicty once again, we truly appreciate the work that you do! DasCoin is the first crypto to run on Apple Pay, Visa, and Mastercard technology.
Of course people are going to walk away from scams like OneCoin to be with a great company like CoinLeaders. That only makes sense.
If you look at the owners behind this company and the technology we have to send crypto worldwide, then you will agree this is the big one and legal also.
Here is some background:
(Ozedit: marketing spam removed, do not repost)
Lol, JR’s finally taken leave of his senses.
Ryan, it’s an appallingly awful scam, obvious from a mile away. Did you ever contemplate working for a living?
Ryan Conley, we all know that what makes sense to you is far removed from factual reality. “This is the big one” comes out of your mouth every time you join a new scheme.
Nobody cares how impressed you are with the backgrounds of the scamming founders. DasCoin is an illegal Ponzi scheme.
It’s pretty obvious some folks breath their own helium. 😉
Anyway, according to FB, he’s off to Serbia to “meet the owners of this powerful crypto”, not a millions miles (only a few) away from the Ignatova garrison town of Sofia.
This would suggest that Sarcevich represents the particular Mob behind this scam.
Could turn into a shooting gallery, a new Balkans Crisis caused by a Ponzi turf war. Don’t laugh…..
@tmfp – I love the analysis/ hypothesis 🙂
Coin Leaders is practically a 1:1 clone of OneCoin. What crack are you smoking?
Interesting Ponzi history, Serbia.
War president Milosevic was behind Jugoskandic in the 90’s which stole what little the Serbian man in the street had left after hyperinflation.
The famous “sanctions busting” $5m chess match between Bobby Fischer and Boris Spassky was financed with Jugo Ponzi money. That was when Belgrade was known as “the pool too small for so many crocodiles”.
I spent some time in the Balkans and survived by keeping my head down (literally sometimes).
Organized crims in Serbia and Bulgaria are tightly connected, but also kill each other regularly.
I don’t see many differences between DasCoin and Onecoin except some graphic elements on the two websites that differ.
These scammers that get people to buy their insanely high priced packages are in for the profit and nothing else. I don’t even know why the hell I’m typing this out and wasting my time.
Don’t ask me about TBC, a billion a coin? Are you even kidding me?
The guys behind these scams are coke users, scumbags of the earth that should be put behind bars AND the affiliates because they’re aware of the scam but they promote it as long as it makes them money.
well, one person was not at all impressed by conley’s spiel in a video conference.
he referred to this article on behindmlm and gave conley an earful, ending by saying – man, it sounds like a bunch of bullshit, f***off.
No mention of the Technology behind the coin…. DASPay is going to be huge, Dascoin will be accessible via Public exchange, ATM’s and your will be able to use Mastercard/Visa facilities
^^ Legitimate third-party merchants and exchanges aren’t interested in Ponzi points.
This is the undoing of every “we’re gunna be the next bitcoin!” MLM altcoin to date.
nnnnnnnno it won’t. every dasbag scammer is jumping into this proving it is clearly a scam.
after reading blog & checking #Youtube other sites, I think DasCoin as another ponzi scheme.. Be aware..!!
As far fetched as it is, Steve Lawson still believes:
Why don’t you report it to the authorities if you say this is a ponzi scheme?
Strawman much? This is a review of Coin Leaders, which concludes, based on its business model, that it is a Ponzi scheme.
What makes you think it hasn’t?
this is dascoin blockchain: dascoinexplorer.com/
What is this???? Empty blocks, no transactions. It is now clear only ex-Onecoin networkers are running this project. No IT specialists….
So, if I am correct reading this and the comments then,
Brian Semkiw – CEO of Carta Worldwide, Pavel Bains – CEO of Bluzelle, Eberhard Wedekind – Cheif Executive of Volvo motors, Soon Hock Lim – Managing Director and Vice President of Compaq Computers, St Luke’s etc etc are all be involved in this scam?
Is that what your telling me?
They must be getting paid huge huge amounts of money to ruin and damage their years of credentials and that of their companies to work alongside/with Dascoin.
Maybe if you actually read who was involved in Dascoin and what is happening with it you might actually retract your earlier statements as I don’t think any of those names mentioned above would tarnish their credibility for anything!!
No idea. You’re the first person to mention any of them, so why be a dumbass and ask if someone else is telling you they’re involved?
Legitimacy by association doesn’t work. If you’re running a Ponzi points business model like Coin Leaders then it doesn’t matter who gets on board. It’s still just a Ponzi scheme.
Well I met these people myself at the Officail launch of the minting of the coin and can quiet confidently tell you that none of them would ruin their names or businesses to any Ponzi schene.
Have a read;
The white papers are at the bottom just incase you want to read those also 🙂
Paid guests at a PR event aren’t necessary involved in the scam. Try again.
You and I know what the answer would if you called each of them and asked just how involved they or their businesses are in Coin Leaders.
And that PDF is for “Net Leaders”. When a company won’t use its own name at events (because people they invite won’t rock up), all it does is confirm the scam.
Lol, the Coin Leaders website redirects to Net Leaders.
Coin Leaders already collapsed then?
Well you sir are just arrogant in the fact that it’s not a scam. (Ozedit: Offtopic derail attempts removed)
Ponzi points business model = scam. That’s the only fact that’s relevant here.
Maybe it’s time to update this article..?
In my opinion if netleaders chooses carta worldwide. To create a daspay application I think this is a big project!
(Ozedit: marketing spam removed)
If the article does not change, probably the netleaders company will write to you and ask “on what basis do you consider that their business is illegal?”
Don’t see what Carta Worldwide has to do with DasCoin Ponzi points. You can’t legitimize a Ponzi scheme through association.
Try reading the review.
Oz, you’re the man!! Or woman I guess.
Good on you for knocking out these scammers. You crushed em.
Thanks for the support!
well well a 24 page spread in Millionaire Asia,yes this well known magazine is really gonna write and review a business thats not real?
why dont all those who think ponzi, just move on. your not investing so why should you care!!
Hands up anyone who’s heard of Millionaire Asia before?
Nobody? Right. Well a quick Google search reveals it’s run by Events Creation Pte Ltd, who bill themselves as an “advertising agency in Singapore”.
Attempt to legitimize scam via association = fail.
Oz Have you read the white papers?
No. And unless these “white papers” explain how using newly invested funds to pay off existing investors isn’t a Ponzi scheme, no point either.
I am one of the few early adopters of Dascoins. I am convinced this will be the dominant currency in the future. We only have to wait.
They don’t have much activity on GitHub?
Copy of onecoin only a lot smaller, recruitment is tiny, watch out for the predictable promotions, free worthless coins.
Hi I’m convinced it won’t… if you want me to join it just because you are convinced it’s crazy.
Cryptocoins are risky but this is an option to buy dascoin, even if they introduce this coin they can quickly sell off everything.
Nobody is going to buy your worthless altcoin outside of the Coin Leaders/Net Leaders income opportunity.
1. I have just seen there is a query about John Pretto is involved with OneCoin.
2. MLM to by domicile in Singapore owned by a Shell Company in Dubai and operated by someone in the U.S.
3. Can you explain
1. John Pretto was an investor promoting the OneCoin Ponzi scheme prior to launching Coin Leaders/Net Leaders.
2. Net Leaders subscribes to the fallacy that incorporating Ponzi schemes offshore means the SEC won’t investigate.
I just want to know that with 20% Direct and 10% matching Commission and many level Commission etc indicate that Das Coin is purely a Money Laundering Concept which is an illegitimate from all legal issues.
How the govt allows such concept to run.
When this bubble is going to burst.
If this is a scam / ponzi, how do you expect the ‘founders’ of Dascoin (John Pretto, Michael Mattias) et al plan to get away with it without prosecution – i.e. is it a possibility they are actually trying to pay Pavel Bains to build ‘Worlds fastest’ blockchain for them or will they just appear to and perhaps he is in on the scam also.
I wonder if plan is to say ultimately that ‘we tried but it didnt work – sorry for taking your millions’!? Do they expect that the fact it is incorporated in Singapore and involved in alot of JVs / activities like the MLM split out into different companies will save them from prosecution or will they go into hiding if/when it fails.
Seems that going on the run is a big price to pay to put yourself front and centre even if the rewards are vast…but is fact they these guys have put their names to it enough to suggest it is not a ponzi scam!!??
1. You’d have to ask them.
2. Using newly invested funds to pay existing investors makes Coin Leaders/Net Leaders a Ponzi scheme, not whether the founders have an escape plan or not.
Ok what is difference between a legitimate MLM scheme, a pyramid scheme and a ponzi scheme – or are they all the same (i.e. is there no such thing as a legitimate MLM scheme?).
Amway is legal MLM, because it has plenty of retail sales (where distributors genuinely sell stuff to people who’re not in the company, i.e. real consumers).
A pyramid scheme is where you pay to join, then make money by recruit more people (who also pay to join, and can make money by recruiting yet more people).
A Ponzi scheme is where you pay in as an investment, and you do take more money out, but the money used to pay you are from later investors)
But you don’t need us to tell you that. You could have looked it up in Wikipedia.
A “legitimate” MLMing company has a least 50% non-affiliate retail customers EXCEPT THAT:
Those customers/people are the “least desirable” to the affiliate and the company – for many reasons.
Therefore MLMing is inherently flawed, and any company using it’s business model will default to a pyramid scheme.
Char, that’s MLM 201. You’ll confuse the noobs. 😀
(Respectfully) Do you have an audit that legitimately shows the breakdown of genuine non-affiliate customer sales?
For example, I know for a fact people were told to just make up 10 customer names.
Amway just hasn’t been caught yet as there is no escaping the inherent flaw.
Which is why that’s MLM 201… Even when they may be legit on the surface, they may still be rotten on the inside. 🙂 Discussing that with a noob is only going to confuse them. 🙂 But we’re WAY off topic. DASCOIN is NOT MLM.
Agreed as our posts overlapped. But, I do think it’s important to try to explain how to avoid future scams.
(One last comment to clarify plz and I’m not trying to be sarcastic)
Doesn’t DasCoin use multi-levels?
*not a legitimate MLM
Knew I left off a word in there. *sigh*
Bluzelle has absolutely nothing to do with this scam.
LOL The Millionaire Asia article contains a referral link as well
How do you know Bluezelle has nothing to do with this scam – their CEO is all over their material as their Smart Contracts guy…
Apparently Dascoin launched on internal exchange event in Tokyo at the weekend to much fanfare @ 33cent per coin.
Even if it is a scam, i assume there is little to stop them hyping it all the way to the public exchange when no doubt the price will be even higher and those who bought it at 7c or less will make it rich!?
Someone asked in the bluezelle slack channel. The CEO response was that they presented to them how smart contracts work and that they had no business relationship with them.
i think is a great company you should reconsider your analyse. they are not scammer.
Ok let vote for it, who think is a real scam and who think is not?
What you think about Ponzi fraud is irrelevant to the fact that Coin Leaders is a Ponzi scheme.
Lol, sounds like something BusinessForHome would run.
Law is not a democracy.
Dascoin launched on internal exchange event in Tokyo at the weekend to much fanfare @ 33cent per coin.
Now @ 41c i believe and plans to launch it on public exchange in 2018 – i still think it is dodgy and wondering what is fuelling the price – i.e. how can it go up to 41c on an internal exchange assuming everyone on the exchange already has invested in it at lower cost per coin – surely they would be sellers not buyers driving the price up!
I wonder is it being set by the company themselves. Either way i presume there is nothing to stop them getting it on to a public exchange so all these early investors can cash in on all the hype and make a fortune…?
Oz, are you saying that not all Ponzi Schemes are Ponzi fraud? and therefore Dascoin could be a legit business?
Internal exchange = money laundering ROI payments to top investors.
No external exchange will touch Ponzi points unless they relaunch with an actual public cryptocurrency (hence all the “lending” scams going around at the moment).
No idea where you got that from. Ponzi schemes can’t be “legit businesses” though.
I have read the reviews but problem now is through excitement from one of the presentations I have invested in the standard licences what now.
I mean u telling me I must forget it’s not going to launch in April?
Start looking for a real job to make up for your losses?
Standard licence is €100. I wouldn’t lose any sleep over that.
Got a Message 2 days ago from friend who got exited and bought those licences.
Little search on CARTA website and nothing about DasPay!!!! Red flag I guess?
Net leaders website only translate to polish-and this is a global revolution? Another red flag?
They send me link to article in Reuters about event on Eiffel Tover, nothing about this event when you go and search on Reuters real website (two days later link is not working anyway) another red flag?
I wouldn’t invest even 1€ but I’m not an investor, so might be wrong.
Apparently they lifted all restrictions on how much you can withdraw in one day on their internal exchange.
This caused the price to tank from 40 cents to 10 cents
Carta Worldwide CEO gives public announcement of alliance with DASCOIN’s DASPAY using POS terminals wherever Vias and MAstercard are accepted.
This is very important which will make Dascoin a major player int the crypto space. Also they have a number of products such as smart contracts with the fashion industry and also DAS ATM’s with zero service fees..
DASCOIN is legit inspite of offering incentivized program for licence holders to spread the word. see the attahed video with CEO of Carta Worlwide.
they also just launched on a number of public exchanges enabling those that submitted their cycles to the minting queue to sell their dascoins..
This is a legit crypto currency that will soon be a major player in my opinion.
Yawn. Legitimacy by association doesn’t work.
DasCoin is a Ponzi scheme launched and promoted by serial Ponzi scammers.
You can’t legitimize investing in DAS points, waiting for new investors to pump the price and then cashing out by withdrawing their money.
It’s been a year and a half. DasCoin will fall apart after the two-year mark, same as OneCoin.
DasCoin hit with Cease and desist order in British Columbia State nasaa.org/45121/state-and-provincial-securities-regulators-conduct-coordinated-international-crypto-crackdown-2/
Thanks for that. Was waiting for NASAA to come out with a list.