Onecoin India — Unethical conduct, Fraudulent schemes, misinformation

Address:	400606
Website:	www.onecoin.eu

Well, If you are reading this, after investing in OneCoin then i am so sorry but it’s too late for any kind of redemption(refund LOL!!), but if you are just checking out this OneCoin MLM scheme then hail!!! spaghetti god!!!, it’s your lucky day since what i am going to say in following article will probably save quite a big amount of your hard earned money.
Now please bear with me when I tell you that regardless of whatever those well-spoken, good mannered, charismatic gentlemen have promised you it’s a Ponzi scheme, Now, now how can i say something like that without giving any facts and proofs, ohh poor me :( but what if i have facts and i can change your perceptions ? Let’s see step by step dissections of OneCoin: THE FUTURE CRYPTOCURRENCY WHICH WILL EVEN OVERTAKE BITCOIN (here is what I give _|_ )
A) So then let’s start by seeing the origins of the owners/partners of OneCoin/OneLife.

1) Ruja Ignatova - Quite a unique name i must say, a Bulgarian citizen. You can see her transcripts anywhere on net, no need to mention here. Now the one fact we all know is that to work in financial business you need to have a good character i.e. clean background. That is to say if Mr. Ambani was convicted for fraudulent crime, will anyone even invest in his company? So our dear Ruja ignatova and her father was convicted of bankruptcy fraud by German court in March 2016. She and her father pled guilty of fraud. She and her father made frauds in a German casting company Gusswerk Waltenhofen, causing the company to go bankrupt and around 100 workers to lose their jobs. She was also involved with BigCoin scam in Thailand and Hong Kong.

2) Sebastien Greenwood – This chap is from Sweden, involved with Bigcoin which you may or may not have heard of is a cryptocurrency scam based in Thailand and Hong Kong.

3) John NG - Claps for this guy, he is the owner of the BigCoin, he has ramped up $ 150, 000, 000. nothing more to say

4) Nigel Allan – Pure Scum bag, just google about him. Don’t have time to type all of his achievements. Was fired from OneCoin in 2016.

B) The OneCoin claims that they are cryptocurrency but quite surprisingly they are centralized and closed source. In layman’s term you cannot see the algorithm behind this Onecoin and how it’s been mined and you also cannot see the blocked chain which is the important part of any cryptocurrency. And then they say that the reason they are going to overtake bitcoin is because they are transparent!!! In what way are they even transparent? If want an example then Bitcoin is a decentralized, open source CC which have visible blocked chain. So there is no way to see where did your money go? And how many coins are actually mined or they even mined a coin at all or the blockedchain even exist at all?

C) OneCoin the company has never submitted any kind of White Paper of their "revolutionary global world reserve currency". This should be a standard thing, but no! Seems the algorithm is too much valuable to even expose to the scholars.

D) That brings me to the next thing - OneCoin, an IT company is supposed to make history and supposed to be the fastest growing company in history, has no "jobs" -section on their web-page. Is there even any phone numbers? Last time I checked, no!!! Very strange for an IT-company.

E) Talking about staff, who even really works in OneCoin HQ, like seriously? Nobody in the cryptocurrency/blockchain scene knows any cryptocurrency/blockchain coders who work at OneCoin. Usually people in the "scene" know each other’s at least by name. At least somebody should know someone working at OneCoin cryptocurrency/blockchain field, but no.

F) LinkedIn or Google search don't find anybody working with cryptocurrency/blockchain technology at OneCoin. Very strange again.

G) Does OneCoin even have a CTO (Chief Technology Officer), not known. Very strange for an IT-company who says will create the biggest reserve cryptocurrency of the world. No mention of that dude anywhere!! Sad indeed, his tech will soon take over the CC scene and Ruja doesn’t even mention him? At least Satoshi san was credited for Bitcoin and that dude probably doesn’t even exist!!.

H) The company doesn't reveal any financial data. (Of course not, why even expect.). well they have ‘audited’ their blockchain and they advertised everywhere claiming legitimacy of their operations based on the audit report. But they fail to mention what happened after that audit?. The audit was done by SF Bulgaria, the one who produced the audit report was then thrown out of company when the partners discovered that the guy has literally sold an audit report which showed lack of ethics and professional integrity. You can view audit report on net. The funny thing is there was only 3 audit which have ever happened and they were monthly audits which were supposed to happen per month. What happened to the audits of rest of the months?? Who knows?? According to recent news the guy who was thrown out has established his own audit company with Onecoin as his sole client!!!

I) If you have attended their seminars, they show you that there is a one coin MasterCard from which you can withdraw money from your one coin account from any ATM in India. But what they don’t tell u is that MasterCard has suspended their facility to withdraw money as the merchant involve with the MasterCard on behalf of once coin was caught in drug dealing case. And now even MasterCard is investigating OneCoin.

J) Pakistan, Bangladesh, and other countries have issued warnings to citizens to not invest in OneCOin. China, Spain, England have even arrested one Coin officials.

K) Why top earners in the Onecoin live in Cambodia and Thailand? Isn’t it no brainer? If you have money why not live in USA or Swiss or even any well-developed peaceful country? Or is that they don’t have extradition treaties with European countries from where they have committed fraud?

L) Why that is the OneCoin which is a GLOBAL DIGITAL CURRENCY is available everywhere except for USA, the answer was that laws in USA for cryptocurrency were unclear!!! Every registered, legitimate cryptocurrency is available in USA, so why only OneCOin have problem? Ohhh or is it that SEC won’t even let one coin place one foot in US soil because they give unregistered securities??? Which probably screams at your face as it’s flipping SCAAAM!!!

M) Ohh I forgot about the mechanisms!! They give you tokens when you buy the package from them, which is essentially a education thingy on CC. That means in their defense they are selling you education package not Coins. Now the tokens they be converted into coins as they being mined. There is another thing which is quite odd that after some 2-3 months they split all the tokens that means you get double the coins!! And then they say that the price of coins will keep rising!!! Are you even trying properly? Price of a product depends on supply and demand. If you are going to increase the quantity then how the price of coins can increase??? Ohhh BUT WAIT!!! This is interesting!!! Onecoin is not a CC, which means it can’t be put in COIN exchange. So you can’t sell coin nor can they be used to even buy a pizza!!! Everything is in-house, controlled and centralized and faked! The Price of coin currently 13 euro something which they state is based on a site XCOINX.com or whatever, but XCoinx was built by onecoin people, the real site is Coin exchange where all the exchange and trading takes place. But surprisingly one coin is not there. Also the money you can withdraw from your account is roughly 4200rs per day. Some will say that it’s a good amount which even I agree to. But if you see the big picture, if you have earned the 75 lakh then you will need 5 years just to withdraw that amount of money. But that’s only after you get 75lakh value in your account. Primarily you will only have coins of value 75 lakh for which you have to sell those coins, but holy cow!! To whom you are going to sell these coins to since it’s not listed? It’s not used and it’s not listed! So what will be your options then?

So after reading above rant if you still want to invest in OneCOin or similar then please donate your money or at least invest in Gold. I was quite fortunate to attend one of these seminars. 70% People were literally convinced that this was some Once in lifetime thing. I would have even ignored them even knowing it’s a MLM scam but quite contrary to our ordinary MLM scams where we invest 3 to 10k one time only, the people who are going to involve in this onecoin thing will tend to invest larger and larger amount as the time goes and will also rope in their friend and relatives with them continuing this cycle. The issue here is that after investing more than 50k at a time you might even see the displayed money in your account as high as 4-5lakh in no time.(don’t ask how? I just explained it above). So it’s going to become a bad sort of habit for those unfortunate enough who have bucks to spare. Also in hindsight I didn’t really like the way they conducted their deceptions and manipulations, in totally amateurish way, at least lie properly. Couldn’t even enjoy properly, bored me to death for 3 hours with no one exceptional enough to put up a good show of Keith Berry: Extraordinary!!, and that sucky decision to run AC in winter at night, I was shivering!! Idiots.