Swedish and other Nordic papers are writing very much about this at the moment. They claim/suspect that "Sebastian Greenwood" from Sweden was the mastermind behind the whole thing. Facing up to 20 years jail in USA the newspapers says. I read on a Swedish forum that when he was younger he ran scams like selling fake ID Cards etc..
This man is going after them. "Won´t give up until everyone is in jail" - https://twitter.com/MrBitcoinNorway
I haven´t read very much about this whole OneCoin thing, but it´s all over the news in the Northern countries now, hard to miss.
Topic: OneCoin: The Biggest Scam Crypto Scam Ever? (Read 1334 times)
Maybe I have to read a bit more about this, but I have difficulties understanding how the finances worked, who had the money? And how would have Ruja Ignatova been able to disappear with anything between $1billion and $4billion?
In order to answer that question, you have to understand how large scale MLM schemes work: to a certain extent they are decentraized, as strange as that may seem in an inherently pyramid structure.
Very briefly, there is a project.
The developers may be independent, may be hired to expand on a recognized opportunity (see crypto) and the word goes out amongst IMA's (Independent Marketing Associates) who have their own ad hoc marketing structures in place, a ready made sales force.
The New Big Thing: get out there and sell it. And sell it again.
These top IMA's are known by rank dependent on how big a downline they bring to the party. And they do their own thing, using the centralized admin structure, create their own websites (See BitClub Network's different versions) and take a rake of every sucker's buy in money.
Around 60% of total revenue into an MLM scheme ends up with them and their lieutenants.
They run seminars, charge for anything and everything, sell positions in the matrix for cash, anything to make hay while the sun shines.
So that of, say, $2b that went into Onecoin in one way or another, over $1b went to those "Black Diamonds" "Blue Emeralds" etc. likely never to be seen again.
These are the guys with the gold Rolls Royces and Rolexes, flying round the world staying in 5* hotels, saying "You can live like me, just give me your money."
A number of the OneCoin high rollers are still living the high life in "relaxed" financial regimes around the world. And, of course, looking over their shoulders for Interpol (not so much) and Gangstas with $5 wrenches.
And whole communities are reduced to (even more) debt because they trusted their "friends", in some cases their local religious ministers and random people on the Internet.
Here's some of the top brass of Onecoin partying at the V&A Museum in London 2016.
Most of the people in the video made millions and have since moved on to other MLM scams. Two are in jail in the U.S.
It was Ignatova's birthday.
She paid aging pop singer Tom Jones £250k to sing for her. Knowing the way Tom is, he didn't take Onecoin.
www.youtube.com/watch?v=79d4ej3xhUk
The waves from Onecoin's demise are continuing to swamp various boats.
The bent money laundering lawyer Mark Scott (see previous posts) incriminated a guy called Robert Courtneidge thru emails revealed in his case. They were both partners at Locke Lord an American BigLaw firm.
They both left Locke Lord, Scott to launder Onecoin central funds (what was left after the IMA's had taken their cut) for the Ignatova's and Courtneidge to become a Director at ePayment Systems in the UK, a processor with offices in London's swanky (love that word) Mayfair and about £100m in the system when BANG...the FCA shut them down on Feb 11th.
Whether this is based solely on what came out at Scott's trial or whether there some plea bargaining and giving up going on, I don't know.
Sources:
https://ftalphaville.ft.com/2020/02/14/1581687078000/What-s-going-on-at-e-money-firm-ePayments-Systems–/
https://behindmlm.com/companies/onecoin/onecoin-at-the-heart-of-epayments-systems-shutdown/#more-54572
In a general manner (but more specific to OneCoin) Facebook and Twitter must be the worst offenders, they can allow their users to post any propaganda. There is freedom of speech and so on but there is also something else to consider: promoting a scam/ponzi
It would be harsh to completely lay the blame at these types of companies for not stopping the armies of trolls or paid shills but what is the alternative? If they have multiple reports about a particular user or a post/tweet then they should look in to it with a possible outcome of removing the post/tweet or banning the associated user account.
And yes, there definitely are plenty of people that get duped - sadly that is the way it goes. It seems it will continue with no real sign of slowing down.
The worst of it I have seen has been on Facebook where their are armies of scam/mlm reposters of all sorts of terrible "cryptocurrency" schemes, and FB just allows it..
I don't know exactly how stupid you have to be to buy into these things shilled by obvious spammers, but I guess their are plenty..
It would be harsh to completely lay the blame at these types of companies for not stopping the armies of trolls or paid shills but what is the alternative? If they have multiple reports about a particular user or a post/tweet then they should look in to it with a possible outcome of removing the post/tweet or banning the associated user account.
And yes, there definitely are plenty of people that get duped - sadly that is the way it goes. It seems it will continue with no real sign of slowing down.
Apart from in the U.S., international regulatory and crime agency response has been abysmally ineffective.
What are they going to do? Ban all speak of onecoin from the internets?The worst of it I have seen has been on Facebook where their are armies of scam/mlm reposters of all sorts of terrible "cryptocurrency" schemes, and FB just allows it..
I don't know exactly how stupid you have to be to buy into these things shilled by obvious spammers, but I guess their are plenty..
Maybe I have to read a bit more about this, but I have difficulties understanding how the finances worked, who had the money? And how would have Ruja Ignatova been able to disappear with anything between $1billion and $4billion?
In a general manner (but more specific to OneCoin) Facebook and Twitter must be the worst offenders, they can allow their users to post any propaganda. There is freedom of speech and so on but there is also something else to consider: promoting a scam/ponzi
It would be harsh to completely lay the blame at these types of companies for not stopping the armies of trolls or paid shills but what is the alternative? If they have multiple reports about a particular user or a post/tweet then they should look in to it with a possible outcome of removing the post/tweet or banning the associated user account.
And yes, there definitely are plenty of people that get duped - sadly that is the way it goes. It seems it will continue with no real sign of slowing down.
The worst of it I have seen has been on Facebook where their are armies of scam/mlm reposters of all sorts of terrible "cryptocurrency" schemes, and FB just allows it..
I don't know exactly how stupid you have to be to buy into these things shilled by obvious spammers, but I guess their are plenty..
It would be harsh to completely lay the blame at these types of companies for not stopping the armies of trolls or paid shills but what is the alternative? If they have multiple reports about a particular user or a post/tweet then they should look in to it with a possible outcome of removing the post/tweet or banning the associated user account.
And yes, there definitely are plenty of people that get duped - sadly that is the way it goes. It seems it will continue with no real sign of slowing down.
Apart from in the U.S., international regulatory and crime agency response has been abysmally ineffective.
What are they going to do? Ban all speak of onecoin from the internets?The worst of it I have seen has been on Facebook where their are armies of scam/mlm reposters of all sorts of terrible "cryptocurrency" schemes, and FB just allows it..
I don't know exactly how stupid you have to be to buy into these things shilled by obvious spammers, but I guess their are plenty..
Apart from in the U.S., international regulatory and crime agency response has been abysmally ineffective.
What are they going to do? Ban all speak of onecoin from the internets?
They could start by enforcing various existing national laws regarding misrepresentation for financial gain i.e. fraud, outright theft, tax evasion, money laundering and bribery, and then have a look at the way in which senior political figures, lawyers and bureaucrats around the world actively or passively enabled Onecoin over a period of six years.
Quote
I don't know exactly how stupid you have to be to buy into these things
or they could just victim blame.
if those ... were Bitcoin
They kindof are, little bits of mutilated BTC..
Apart from in the U.S., international regulatory and crime agency response has been abysmally ineffective.
What are they going to do? Ban all speak of onecoin from the internets?
The worst of it I have seen has been on Facebook where their are armies of scam/mlm reposters of all sorts of terrible "cryptocurrency" schemes, and FB just allows it..
I don't know exactly how stupid you have to be to buy into these things shilled by obvious spammers, but I guess their are plenty..
This link surprisingly has a lot of information about the scam: https://en.wikipedia.org/wiki/OneCoin
The money trail must be very long for this multi-billion scam but eventually investigators will get the bulk of it, they almost always do.
The money trail must be very long for this multi-billion scam but eventually investigators will get the bulk of it, they almost always do.
It's premature to talk of Onecoin in the past tense, a scheme of this size won't just quietly stop and go away with the arrest or disappearance of a handful of hi profile early promoters and organizers.
Apart from in the U.S., international regulatory and crime agency response has been abysmally ineffective.
Various acronym'd bodies have released standard "warnings" but there appears to be little will on behalf of investigators to coordinate internationally, either thru disinterest, lack of resources or even corruption (here's looking at you, Bulgaria) and chase down the MLMtrash who still travel the world promoting this and other scams with seeming impunity.
Ari Widell has been following and documenting the scam for years now.
His latest blog post makes it clear that, although some IMA's have publically and contritely walked away from Onecoin, there's a determined rump of organizers hell bent on wringing the last drop out of Onecoin and the DealShaker invention, and a substantial number of invested-up-to-their-necks-and-beyond scammers willing to spread conspiracy theories and lies in order to attract new victims, even now.
https://kusetukset.blogspot.com/2020/01/onecoin-meet-new-manager.html?
A young Ugandan man who saw the light, tweets
Apart from in the U.S., international regulatory and crime agency response has been abysmally ineffective.
Various acronym'd bodies have released standard "warnings" but there appears to be little will on behalf of investigators to coordinate internationally, either thru disinterest, lack of resources or even corruption (here's looking at you, Bulgaria) and chase down the MLMtrash who still travel the world promoting this and other scams with seeming impunity.
Ari Widell has been following and documenting the scam for years now.
His latest blog post makes it clear that, although some IMA's have publically and contritely walked away from Onecoin, there's a determined rump of organizers hell bent on wringing the last drop out of Onecoin and the DealShaker invention, and a substantial number of invested-up-to-their-necks-and-beyond scammers willing to spread conspiracy theories and lies in order to attract new victims, even now.
https://kusetukset.blogspot.com/2020/01/onecoin-meet-new-manager.html?
A young Ugandan man who saw the light, tweets
Quote
Daniel Leinhardt@DanielLeinhardt
OK. so onelife is distributing free laptops and tablets to schools accepting Onecoins as a method of payment in Uganda!!
OK. so onelife is distributing free laptops and tablets to schools accepting Onecoins as a method of payment in Uganda!!
Quote
Daniel Leinhardt@DanielLeinhardt
Onecoin admin is communicating almost twice a week now. With dealshaker updates and communications and alerts and events everywhere. The aim is to prove how there blockchainless coins are into use.
" How far can a fake technology be forced to work, how long can this last!
Onecoin admin is communicating almost twice a week now. With dealshaker updates and communications and alerts and events everywhere. The aim is to prove how there blockchainless coins are into use.
" How far can a fake technology be forced to work, how long can this last!
It's premature to talk of Onecoin in the past tense, a scheme of this size won't just quietly stop and go away with the arrest or disappearance of a handful of hi profile early promoters and organizers.
Apart from in the U.S., international regulatory and crime agency response has been abysmally ineffective.
Various acronym'd bodies have released standard "warnings" but there appears to be little will on behalf of investigators to coordinate internationally, either thru disinterest, lack of resources or even corruption (here's looking at you, Bulgaria) and chase down the MLMtrash who still travel the world promoting this and other scams with seeming impunity.
Ari Widell has been following and documenting the scam for years now.
His latest blog post makes it clear that, although some IMA's have publically and contritely walked away from Onecoin, there's a determined rump of organizers hell bent on wringing the last drop out of Onecoin and the DealShaker invention, and a substantial number of invested-up-to-their-necks-and-beyond scammers willing to spread conspiracy theories and lies in order to attract new victims, even now.
https://kusetukset.blogspot.com/2020/01/onecoin-meet-new-manager.html?
A young Ugandan man who saw the light, tweets
Apart from in the U.S., international regulatory and crime agency response has been abysmally ineffective.
Various acronym'd bodies have released standard "warnings" but there appears to be little will on behalf of investigators to coordinate internationally, either thru disinterest, lack of resources or even corruption (here's looking at you, Bulgaria) and chase down the MLMtrash who still travel the world promoting this and other scams with seeming impunity.
Ari Widell has been following and documenting the scam for years now.
His latest blog post makes it clear that, although some IMA's have publically and contritely walked away from Onecoin, there's a determined rump of organizers hell bent on wringing the last drop out of Onecoin and the DealShaker invention, and a substantial number of invested-up-to-their-necks-and-beyond scammers willing to spread conspiracy theories and lies in order to attract new victims, even now.
https://kusetukset.blogspot.com/2020/01/onecoin-meet-new-manager.html?
A young Ugandan man who saw the light, tweets
Quote
Daniel Leinhardt@DanielLeinhardt
OK. so onelife is distributing free laptops and tablets to schools accepting Onecoins as a method of payment in Uganda!!
OK. so onelife is distributing free laptops and tablets to schools accepting Onecoins as a method of payment in Uganda!!
Quote
Daniel Leinhardt@DanielLeinhardt
Onecoin admin is communicating almost twice a week now. With dealshaker updates and communications and alerts and events everywhere. The aim is to prove how there blockchainless coins are into use.
" How far can a fake technology be forced to work, how long can this last!
Onecoin admin is communicating almost twice a week now. With dealshaker updates and communications and alerts and events everywhere. The aim is to prove how there blockchainless coins are into use.
" How far can a fake technology be forced to work, how long can this last!
I was just browsing through old ANNs to randomly bump to the top of the page (admittedly I'm a bit bored at the moment), and I found the first announcement for OneCoin:
OneCoin-The New CryptoCurrency That Will OverPass Bitcoin
Its locked so I can't bump it unfortunately, but it had already been pointed out as a Ponzi scam 3 months earlier by BehindMLM... Over 1,300 comments underneath the article.
One of the comments in the ANN thread says,
Well, they were wrong!
No need to harass the thread creator and OneCoin promoter... he is an active account, but it probably changed hands sometime through the years... Maybe he locked it after realizing it was a Ponzi scheme.
OneCoin-The New CryptoCurrency That Will OverPass Bitcoin
Its locked so I can't bump it unfortunately, but it had already been pointed out as a Ponzi scam 3 months earlier by BehindMLM... Over 1,300 comments underneath the article.
One of the comments in the ANN thread says,
Quote
... in 5 years from now probably no one will remember this coin
Well, they were wrong!
No need to harass the thread creator and OneCoin promoter... he is an active account, but it probably changed hands sometime through the years... Maybe he locked it after realizing it was a Ponzi scheme.
Feel free to post in any of my threads whenever you feel bored. You always provide helpful insights and great advice so most welcome here friend
Regarding the link, I read this and it made me chuckle: ”URGENT” Its important that you read this as it is going to have an affect in your future
Seems almost as dramatic an announcement as the crypto queen Ruja Ignatova walking on to the stage at Wembley Arena, London to make that dramatic entrance.
Dr Ruja Ignatova - apparently she is a PhD graduate in European Private Law from a university in Germany, which is where she settled with her family. They moved from Bulgaria when she was 10 years old.
She claims she studied at Oxford University in the UK as well. I would not be surprised if she really had no qualifications whatsoever and fabricated her education along with her crypto queen persona. She and her OneCoin will always be remembered for all the wrong reasons throughout history.
I was just browsing through old ANNs to randomly bump to the top of the page (admittedly I'm a bit bored at the moment), and I found the first announcement for OneCoin:
OneCoin-The New CryptoCurrency That Will OverPass Bitcoin
....edited..
No need to harass the thread creator and OneCoin promoter...... Maybe he locked it after realizing it was a Ponzi scheme.
OneCoin-The New CryptoCurrency That Will OverPass Bitcoin
....edited..
No need to harass the thread creator and OneCoin promoter...... Maybe he locked it after realizing it was a Ponzi scheme.
Yeah, the last post in that thread was by psy112; we had a few words about Onecoin and came to an agreement......
I was just browsing through old ANNs to randomly bump to the top of the page (admittedly I'm a bit bored at the moment), and I found the first announcement for OneCoin:
OneCoin-The New CryptoCurrency That Will OverPass Bitcoin
Its locked so I can't bump it unfortunately, but it had already been pointed out as a Ponzi scam 3 months earlier by BehindMLM... Over 1,300 comments underneath the article.
One of the comments in the ANN thread says,
Well, they were wrong!
No need to harass the thread creator and OneCoin promoter... he is an active account, but it probably changed hands sometime through the years... Maybe he locked it after realizing it was a Ponzi scheme.
OneCoin-The New CryptoCurrency That Will OverPass Bitcoin
Its locked so I can't bump it unfortunately, but it had already been pointed out as a Ponzi scam 3 months earlier by BehindMLM... Over 1,300 comments underneath the article.
One of the comments in the ANN thread says,
Quote
... in 5 years from now probably no one will remember this coin
Well, they were wrong!
No need to harass the thread creator and OneCoin promoter... he is an active account, but it probably changed hands sometime through the years... Maybe he locked it after realizing it was a Ponzi scheme.
OneCoin is a scam because it does not have a blockchain to transfer its coin!
This scam is so old and so obvious, I ran across a meme..
It even has it's own counterparty asset to prove ownership..
I have 1081 of them of 856290000 issued and they are probably worth more than onecoins, lol..
Want a few @JollyGood ?
Post me a BTC addy and I'll send you a few when I get it straightened back out..
It even has it's own counterparty asset to prove ownership..
I have 1081 of them of 856290000 issued and they are probably worth more than onecoins, lol..
Want a few @JollyGood ?
Post me a BTC addy and I'll send you a few when I get it straightened back out..
I have to say this is funny, if those 1081 you offered to donate were Bitcoin I would bite your hand off literally
... but just spare a thought for the thousands of investors that fell for this scam and in the process lost everything including those that borrowed money from banks as loans just because they believed in this.
On a serious note, there are people even now saying that they believe whole-heartedly that Onecoin is not a scam and there negative news including the legal proceedings and judgement against Konstantin Ignatov (brother of Ruja Ignatova, the founder of OneCoin and self-styled Crypto Queen) is just a misunderstanding even though he entered in to a plea bargain and will not testify against anything OneCoin related - either that or he faced a maximum of 90 years in jail !
I hope the sooner all this comes to an end the sooner the investors can come to terms with their losses and with time hopefully move on.
I think it is 100% scam. How can they recover your lost funds from this project? Do they have magic formula or are they practicing witchcraft? If someone will fall into this scam, no wonder he had been scammed by this OneCoin project.
No relationship between these two problem, guy If someone will fall into this scam, no wonder he had been scammed by this OneCoin project.
So far, if there was no news coverage in the media, if this fact were not exposed, would you know that Onecoin is a scam? I'm sure you still think it is a great project, a great money, even for other investors Every year, there's always a huge project that's exposed fraud, repeatedly. Compared to Onecoin, that guy is just a grain of sand 
Beware of OneCoin, they are a well known scam. Fortunately, I was able to get it back with help from a Recovery Pro. You can reach me if you have also lost money in binary options and cryptocurrency trading, you will recover everything you lost. maggiealder12 {at} gmail,com
What the hell are you talking about? 
LOL This guy is introducing a service for another people to get back the money that they were cheated. It's like a kid's joke. Or is this just a scam? After someone e-mailed him to ask about it, he would say: "If you send me $ 10, I'll show you how to get the full refund." Or anything like that A silly way to get money I think it is 100% scam. How can they recover your lost funds from this project? Do they have magic formula or are they practicing witchcraft?
If someone will fall into this scam, no wonder he had been scammed by this OneCoin project. Beware of OneCoin, they are a well known scam. Fortunately, I was able to get it back with help from a Recovery Pro. You can reach me if you have also lost money in binary options and cryptocurrency trading, you will recover everything you lost. maggiealder12 {at} gmail,com
What the hell are you talking about? LOL This guy is introducing a service for another people to get back the money that they were cheated. It's like a kid's joke. Or is this just a scam? After someone e-mailed him to ask about it, he would say: "If you send me $ 10, I'll show you how to get the full refund." Or anything like that A silly way to get money Beware of OneCoin, they are a well known scam. Fortunately, I was able to get it back with help from a Recovery Pro. You can reach me if you have also lost money in binary options and cryptocurrency trading, you will recover everything you lost. maggiealder12 {at} gmail,com
WTF ! Are you saying you are able to get money back to all those who lost fund's in Onecoin? It looks more like scam on a scam.
Beware of OneCoin, they are a well known scam. Fortunately, I was able to get it back with help from a Recovery Pro. You can reach me if you have also lost money in binary options and cryptocurrency trading, you will recover everything you lost. maggiealder12 {at} gmail,com
I remember one guy IRL, he told me 1+ year ago about this Onecoin shit and said it is something to be invested upon. He was a person with very less crypto knowledge but got caught up into this Onecoin thing due to the bull run effect I guess, he was suggesting some very catchy but spammy offer which I just ignored debating upon, due to his imaginary price increase and future profits debate's. Was just thinking what he would be doing with those OneCoins he bought, not talked with him from an year or so. I am sure he would be crying at it and at not taking my advice back then, but would see !
It seems they have accumulated hell lot of money from involving less crypto knowledgeable peoples in promoting them, hopefully I don't have any proves of so, but the above incident could be an indication of many more people around the world getting trapped into such.
I even get how old that meme would be LOL!
It seems they have accumulated hell lot of money from involving less crypto knowledgeable peoples in promoting them, hopefully I don't have any proves of so, but the above incident could be an indication of many more people around the world getting trapped into such.
This scam is so old and so obvious, I ran across a meme..
I even get how old that meme would be LOL!
This scam is so old and so obvious, I ran across a meme..
It even has it's own counterparty asset to prove ownership..
I have 1081 of them of 856290000 issued and they are probably worth more than onecoins, lol..
Want a few @JollyGood ?
Post me a BTC addy and I'll send you a few when I get it straightened back out..
It even has it's own counterparty asset to prove ownership..
I have 1081 of them of 856290000 issued and they are probably worth more than onecoins, lol..
Want a few @JollyGood ?
Post me a BTC addy and I'll send you a few when I get it straightened back out..
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