Tuesday, 12 March 2019

Miner One under pre-trial investigation in Lithuania



According to Lithuanian news source Miner One is under investigation by the Financial Crime Investigation Service of Lithuania. There's only one person suspected, Pranas Slušnys, the project manager of Miner One.


"The Financial Crime Investigation Service (FNTT) conducts a pre-trial investigation into the ICO project" Miner One ", according to the characteristics of an offense established in the Criminal Code of the Republic of Lithuania for High Value Fraud," 
Source: 15min


A former legal counsel of Miner One, Jonas Udris, posted a message today via Telegram to the Miner One community: 
Dear Miner One community, 
As a legal counsel of the Miner One project, I hereby regret to inform you that last week I was questioned by the Financial Crime Investigation Service of Lithuania (FCIS) in the status of special witness regarding my work in the Miner One ICO, where I have learned that CEO and a sole owner of a Miner One FZE (a United Arab Emirates company), Mr. Pranas Slusnys is under investigation of fraud. 
I was involved in the Miner One project as a co-founder and legal advisor from the very beginning in November 2017 until June 2018. My responsibilities included drafting the White Paper, Terms and Conditions, Token Sale Agreements, Miner One Prospectus and a number of other legal documents, as well as counseling the management, the team and the community members regarding legal matters of the project.  
After the end of the ICO, Mr. Pranas Slusnys continued to operate the company as sole owner and director and my services were no longer required since then. 
I am fully cooperating with the investigation and I have provided all the information which was in my possession. I hope that the investigation will be as quick as possible and all the answers will be made public.  
To my knowledge, all Miner One staff members were let go in early January 2019 in the name of saving costs.  
In the meantime, I will keep you informed on the progress once I will have any updates.  
Jonas Udris



"Pranas Slusnys arrested!"



Pranas Slušnys


According to www.icoinvestigation.com Pranas Slušnys was arrested on 7th March due the fraud investigation. 

ICO Investigation website is ran by a person named Matthew, also a victim of Miner One himself. The website has been dedicated in unraveling Miner One scam. There's also information about Miner One related scams; Golder Games (aka Warfield) and TOKIA.

I personally bumped into Matthew in June 2018 on Miner One's official Telegram channel. At the time Matthew was a firm believer and supporter of this project and I was actually having a debate with him when I was suddenly banned from the Telegram group by Miner One's admin. 

Eventually also Matthew was banned from the channel after daring to make too many questions there. Since then he has been gathering evidence about the scam and posting it to the website.




The mining farm was a hoax


On December 10, 2018, Miner One was boasting about having 4620 Bitmain Antminer S9's ready for mining.



However, the members had already began to suspect whether the mining equipment actually existed. The strange problems Miner One had providing visual evidence about the farm only raised more questions. The photos they finally managed to publish were soon suspected as being photoshopped.

Eventually a group of people operated together and managed to find the location that was used to stage the mining farm.

Quoting Matthew: 
"The evidence gathered to date was strong however finding the location would confirm suspicions and guarantee the interest of local law enforcement. On the 30th of January still images from the Facebook live videos was analysed by a small group of investors and the same day a possible location was checked and the containers found, the results where kept quiet from the group whilst another smaller group was formed to discuss the ramifications of the discovery which are detailed in Containergate Exposed – the Miner One Lie."

On the location only two rotting shipping containers were found. I recommend the link above to see also photos from the scene.

After collecting enough evidence the group contacted Lithuanian authorities: 
"The Financial Crime Investigation Service of Lithuania (FNTT) was contacted and in early February an investigation was underway with information being supplied as more data was analysed to bolster the evidence supplied to date which mainly concentrated on the containers."


Golder Games (aka Warfield) dumped


The scammers behind Golder Games seem to have abandoned the project almost simultaneously with Miner One.

Nothing has happened since my last post about the scam.


Update March 13, 2019


Darius Udrys comment posted yesterday about his role in Miner One scam:


My comment was soon deleted by Darius Udrys. I guess he's a bit touchy about criticism.

Although Darius Udrys tells us that his consulting work with Miner One ended right after New Year he did continue to work for Golder Games where he was also an admin in the official Telegram Group.

Friday, 8 March 2019

Konstantin Ignatov arrested – charges announced against Ruja and Konstantin



US Department of Justice press release published today announced that criminal charges have been filed against Ruja Ignatova and her brother Konstantin Ignatov.


Konstantin Ignatov


Konstantin Ignatov was arrested on a wire fraud conspiracy charge March 6 at Los Angeles International Airport. Quoting the press release:
"Between February 27, 2019, and March 6, 2019, IGNATOV travelled to the United States to conduct OneCoin-related business, including in Las Vegas, Nevada, where he stayed at a casino resort.  While in Las Vegas, IGNATOV met with a number of OneCoin affiliates."
– I don't know why Konstantin Ignatov dared to set his foot on US soil, especially now after it was evident that US authorities were after OneCoin scammers. Maybe Ignatov had a false sense of security and he thought that there wasn't enough evidence available to file charges against him. Boy was he wrong.



Here are the charges against Ruja and Konstantin: 
IGNATOVA, 38, of Sofia, Bulgaria, is charged with one count each of wire fraud, conspiracy to commit wire fraud, securities fraud, and conspiracy to commit money laundering, each of which carries a maximum sentence of 20 years sentence, and one count of conspiracy to commit securities fraud, which carries a maximum sentence of five years in prison. IGNATOVA remains at large.

IGNATOV, 33, of Sofia, Bulgaria, is charged by Complaint with one count of conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison.


Investigation: OneCoin has no blockchain


The press release by the US Department of Justice is very thorough and makes also clear that OneCoin hasn't had a blockchain and is nothing more than a malicious scam designed to rob money from gullible people.

Quoting:
 
"The investigation has revealed that OneCoin lacks a true blockchain, that is, a public and verifiable blockchain.[2] Moreover, by approximately March 2015, IGNATOVA and her co-founder had started allocating to OneCoin members coins that did not even exist in OneCoin’s purported private blockchain, referring to those coins as “fake coins.”"

The true nature of Ruja Ignatova was always there to see, but many of the victims of OneCoin worshipped her like she was a goddess with a heart of gold. However, the US investigation has revealed a nice gem that reveals that Ruja Ignatova only intention was to scam money from the investors:  
Moreover, the investigation has revealed that IGNATOVA and her co-founder conceived of and built the OneCoin business fully intending to use it to defraud investors. For example, in one email between IGNATOVA and her co-founder, IGNATOVA described her thoughts on the “exit strategy” for OneCoin. The first option that IGNATOVA listed was, “Take the money and run and blame someone else for this . . . .”

The name of the co-founder isn't revealed. I would suspect that it is Sebastian Greenwood who was arrested months ago.


And here's more email correspondence telling exactly what OneCoin was:

In the summer of 2014, Ruja and Founder-2 were developing the concept and payout plan for OneCoin, which they referred to at the time in e-mail correspondence as "trashy coin." On June 11, 2014, Ruja wrote to Founder-2 concerning the OneCoin business plan: 
It might not be (something) really clean or that I normally work on or even can be proud of (except with you in private when we make the money) – but ... I am especially good in this very borderline cases (sic), where the things become gray - and you as the magic sales machine – and me as someone who really can work with numbers, legal and back you up in a good and professional way - we could really make it big - like MLM meets bitch of wall street ;-)

Later that summer:

Beginning in or about August 2014, Ruja and Founder-2 developed the idea of marketing to members that tokens could be used to "mine" OneCoins. In an e-mail to Ruja dated August 11, 2014, Founder-2 proposed:  
"Get members to think that they are mining their OneCoin via crunching (exchanging) tokens for OneCoin. This storey (sic) is good as ppl will then not go super crazy and just try and sell tokens all the time."  
Founder-2 e-mailed Ruja the following day, writing, "The concept of converting tokens into OneCoin is an important phase for validity and truth behind the OneCoin. The so called "mining" of coins is a concept that is very familiar in the industry and a story we can sell to the members." Ruja then wrote to Founder-2, "We are not mining actually – but telling people shit," to which Founder-2 responded, "how can this be investigated and found out?" and "Can any member (trying to be clever) find out that we actually are not investing in machines to mine but it is merely a piece of software doing this for us?"


"Founder-2" and Konstantin Ignatov sharing messages about the people in the network:
For example, on September 21, 2016, KONSTANTIN IGNATOV, the defendant, and Founder-2 shared the following message exchange:

Founder-2: These ppl are crazy
Founder-2: Like they want to speak every hour
Founder-2: Abt shit
IGNATOV: haha they are. tried to fixed it with him, tried to avoid bothering you as far as possible. so you are not lost everything s fine ;)
Founder-2: Emoticon
Founder-2: These ppl are idiots
IGNATOV: as you told me, the network would not work with intelligent people ;)
Source: US court document 



OneCoin generated over 3 billion euros in sales revenue


According to the investigators the money flow to the scam has been massive.


"As a result of misrepresentations made by IGNATOV, IGNATOVA, and other OneCoin representatives, victims throughout the world wired investment funds to OneCoin-controlled bank accounts in order to purchase OneCoin packages. Records obtained in the course of the investigation show that, between the fourth quarter of 2014 and the third quarter of 2016 alone, OneCoin Ltd. generated €3.353 billion in sales revenue and earned “profits” of €2.232 billion"

The press release also confirms that OneCoins have not been "mined" using computer resources and the value of the coins isn't real. – As I and many others have been saying since the beginning of this scam while warning possible investors and victims.

"The purported value of a OneCoin has steadily grown from €0.50 to approximately €29.95 per coin, as of January 2019.  In fact, the value of OneCoin is determined internally and not based on market supply and demand; and OneCoins are not mined using computer resources."


You can read the whole press release from here.

Thursday, 7 March 2019

Global InterGold's banking problems continue - Update 18th March



Global InterGold (former Emgoldex) has already a long history of banking problems, which is probably not strange considering that we are talking about a scam. This is also acknowledged by authorities and banks. For example, here's a warning by Irish Competition and Consumer Protection Commission.

I have been keeping an eye on this scam from the early 2017. During that time there has been about 10 different bank accounts used, held by various shell companies. Nevertheless, Global InterGold has been surprisingly successful and persevere in holding bank accounts in Bulgaria continually sticking on to one specific shell company, MD7 Trade Ltd. 

The company was incorporated in 2016 with a small initial capital of about 255 euros. The owner is Mihails Subotins, an Ukrainian businessman. Interestingly the name popped up in Greek media in 2017 while an embezzlement scandal tied to a Greek basketball club reached headlines.



The latest bank account changes


MD7 Trade Ltd has had bank accounts at least in the following five Bulgarian banks:
• Raiffeisenbank
• International Asset Bank
• Piraeus Bank Bulgaria AD
• United Bulgarian Bank
• Bulgarian-American Credit Bank

The latest bank account details given to the victims of the scam were directing to accounts in United Bulgarian Bank and Bulgarian-American Credit Bank. Now those bank account details have been removed and replaced with a new one held by yet another new shell company, Gold International Group Limited.



Recipient Bank:
PIRAEUS BANK BULGARIA AD
Bank Address:
115 E Tsarigradsko Shosse Blvd., 1784 Sofia, Bulgaria
SWIFT:
PIRBBGSF
Beneficiary:
Gold International Group Limited
Beneficiary Address:
Georgi Sava Rakovski Str. 96, Sofia 1000, Bulgaria
Beneficiary Account:
BG68PIRB80681606305654

In fact Global InterGold has used Piraeus Bank also in the early 2018, but then the holder of the account was MD7 Trade Ltd. There was also a limit for wire transfers to the account. Transfers were not to exceed 7000 euros – supposedly exceeding sums would raise too much unwanted attention.


Traffic declining


Traffic to the website seems to be declining and the official Facebook page of the company seems awfully quiet.


Stats from Similarweb show about 300k visits per month. Click to enlarge.




Update 18th March – Bank account changed again


Well, the bank account in Piraeus Bank didn't last long. Here's the new bank account just recently added:

Recipient Bank:
Unicredit Bank
SWIFT:
BACXROBU
Beneficiary:
GIG GLOBAL INTERGOLD LIMITED SRL
Beneficiary Address:
Vanatori Str. 5-11, ap. 17, Sector 5, Bucharest, Romania
Beneficiary Account:
RO73BACX0000001720737002

The shell company holding the account is rather freshly incorporated Romanian company. GIG Global InterGold Limited SRL was founded on September 19, 2018, with an astonishing share capital of about 40 euros.

Tuesday, 26 February 2019

Warfield (aka Golder Games) – follow-up



Time to check up what has happened to Warfield after I posted my review of the scheme in July 2018. I finished my review by concluding that in my opinion Warfield was a scam and not to be trusted. Well, where are we now?



A lot of bullshit in this field


According to the roadmap that was used to marked Warfield during its ICO phase the game was supposed to be released on App Store and Play Store simultaneously on 15th February. Of course that didn't happen.

On 15th of May 2019 the game is supposed to be released on Xbox and PlayStation. That won't happen either. It was just a bogus claim the team made up to sell the ICO to gullible investors.



The roadmap of Warfield (click to enlarge)

Recently the official Telegram group of Warfield/Golder Games was made inaccessible. This happened soon after the Telegram group of Miner One was cut off. Miner One was a Bitcoin mining related ICO launched prior to Warfield. At least some of the people behind Warfield were also involved in Miner One.


Warfield team members: 
Andrius Mironovskis - Founder & Team Leader
Donatas Kanapickas - Chief Developer
Rimas Puriuskis - Operatins & Co-Founder
Alkas Aleksandravicius - Lead User Interface Designer
Julius Serenas - Server Guru & Wizard
Dzianis Kuchynski - CCO
Ovidijus Sudzius - Business Development
Tom Frisina - Executive Advisor
Benjamin Tershana - Marketing & Business Development Advisor
Adalberto Bruno - Technical Advisor
Dylan Sharkey - Commercial Strategy Advisor
Darius Udrys - Brand & Business Development Advisor
Quyen Nong - Marketing Advisor
Jonas Udris - Corporate & Legal Advisor
Andriy Sharanevych - Networking & Connections Advisor
Scott Shirley - Professional Player & Game Tester

Warfield also ceased publishing on its official Facebook page. The last post has been published on January 25. It was about a contest that was supposed to have winners announced on 19th February. However, the winners were never announced, although it would had been very easy since there seems to be only one person who bothered to participate.




... Anyway, congrats "CryptoZombie":





Not much to hype about anymore. Traffic to warfield.com declined rapidly after October 2018.


Goldergames.com – I guess no one cares no more.


How much for a Golder?



You forgot to add "for gullible people" at the end.


On November 26th 2018 the team announced that Golder was tradeable on Coinbene exchange. Quoting: 
"This fulfils Golder Games’ promise to literally let players make money playing video games!"

Before Warfield cut off the official Telegram Group I noticed there were some alarmed Golder owners who were dismayed about the low value of their possessions. Apparently there wasn't much interest towards buying Golder, whereas anyone possessing them was eager to sell. 




I decided to try to have a chat with Darius Udrys who's the Brand & Business Development Advisor of Warfield and also one of the admins of the Telegram channel. This was after I had noticed him urging members in the channel to lure more people to invest in to the game:




Besides cutting off Telegram and Facebook the game doesn't seem to be available for playing anymore. I guess this is it then.

– Sure you are. I guess the release on Xbox and PlayStation is taking a toll?

Tuesday, 12 February 2019

Miner One follow-up – An operation safe to fail



Time to review what has happened since my last post about Miner One.

Initially the company was supposed to start a mining farm in Luleå, Sweden. The marketing of Miner One was painting a picture of certain future success as "The World's Biggest Crowdfunded Crypto Mining Operation" that was going to operate in Sweden. According to Miner One's marketing pitches and white paper the location in Sweden was somewhat ideal for Bitcoin mining because of the moderately cool climate and cheap electricity available in Luleå.

To further build up its credibility Miner One published videos and other material to make it seem that the company really was about to start a mining farm in Sweden.


A letter of intent of renting facilities in Luleå.


Sweden, Sweden, Sweden. A screencap of Google search results of Miner One's Sweden related material.


Despite Miner One continuously used the location in Sweden in its marketing pitches prior the launch of ICO and even during it, the mining never started in Luleå.



Despite not operating in Sweden, Miner One had this on its web page for months, also while it was already operating in Lithuania. The label was removed only recently from the website.



Criticism not accepted


I had already found out that Miner One was not willing to answer any questions about using a blatant lie in its marketing. This was something that a legitimate business simply wouldn't do so I didn't find Miner One trustworthy at all to begin with.

In order to follow what's happening and to get the latest news I had joined the official Telegram group of Miner One. However, I was soon banned from there for no good reason. Apparently the company doesn't handle criticism too well, which alone should be considered a major red flag – in addition to all the false marketing (which also went as far as blatantly lying).

However, I managed to find an unofficial Telegram group of Miner One investors, which was actually a much better channel to get proper information about what was going on.



Mining started but failed – investors dismayed


I was actually surprised when Miner One eventually really did set up a mining farm of some sorts.

Instead of Sweden a location in Lithuania was selected. All the speeches about green energy and the ideal location in Sweden were forgotten in an instant.

Instead of proper facilities for a mining farm, shipping containers were chosen.

Anyway, there must have been great anticipation in the air among the investors of Miner One. – At last money was going to start pouring in!

According to the original plan the mining operation was supposed to start in July 2018, instead mining began in late August. A payout was made on Aug 31 from 770 miners operating for 10 days. There were also payouts for September and October. In total, these payouts came to about a 0.1% return. Mining ceased around November 20 due to the costs to mine exceeding the value of BTC mined. (This chapter was edited on 15 February according to the post in the comments section of this blog post.)

Miner One's white paper was pretty much guaranteeing incomes due a "cushion effect" the company had planned. That means that even in the case that the value of BTC drops, investment in Miner One can still generate returns. What could go wrong?

In reality there was no cushion effect and the income generated to the investors was a fraction of the sums they had been expecting. They were dismayed to find out that by the rate the mining was generating return of invest it would take even tens of years to get the invested sum back. I guess at that point most of the investors considered their money lost.

Considering the lousy ROI the miners were able to generate per investor, I don't think it wouldn't matter much even if the value of Bitcoin would double. At the best it would maybe just double the sum of pennies made earlier. – So no lambo!



The World's Crappiest Crowdfunded Crypto Mining Operation?


The mining operation might have been profitable at least for the company to get it going for a month or two. However, according to the information I have received via Telegram, Miner One was forced to shut down its miners soon after starting them due the huge decrease of Bitcoin value in the late 2018.

During these recent two months the investors have been more and more agitated about the situation and demanding proofs that the alleged mining equipment actually exist and presenting criticism towards the company. From what I have read from the unofficial Miner One Telegram group, there are many people who have invested thousands of euros to this scheme and understandably worried about their investment. Many of them already consider their investment lost.

There also doesn't seem to be much trust left towards the company. It doesn't help that even the most trustworthy supporter of Miner One among the investors has been kicked out from the official Miner One Telegram group. I guess he was just asking too many questions and presenting criticism while the company refused to show requested transparency and to share information.


This was recently posted on the unofficial Telegram channel. Word "hater" mentioned there at the end. Funny thing, I don't remember legitimate businesses ever talking about haters. What comes to FUD (Fear, Uncertainty, Doubt), I believe Miner One has always been all about uncertainties and doubts. Fear? I think fear is only a natural reaction of an investor who finds out that he has invested in uncertainties and doubts.

There hasn't been much news what is going to happen next. Pranas Slušnys has been implying about moving his shipping containers to another location where cheaper electricity would be available. Apparently Ukraine is the next target. 


The latest newsletter of Miner One tells us: 
“I take the relocation process very seriously, as the equipment has to be transported in unfavorable weather conditions, and there is no room for doing a show. I am going to the Kharkiv region in Ukraine myself to oversee the assembly process. The relocation was critical, as the electricity prices in the Baltics have increased since January, 2019, and our current supplier was unable to fulfill his obligations to deliver us the price that we have agreed earlier in 2018” – says Pranas Slusnys, CEO of the Miner One project.

Meanwhile the useless miners are kept in the shipping containers – or is there only one container? Who knows? The life span of a Bitcoin miner is relatively short so each month is like equal to one year in dog years, and 12 months equals a dead dog, so to speak. Hence it shouldn't take long before all the alleged miners would be scrap metal.

I personally think that this was already the end of the operation. No point dragging this on. From what I have found out just recently the official Telegram channel doesn't respond anymore to inquiries. Strangely Miner One has also deleted all posts from the official Facebook page that were posted this year. Among other things those posts were somewhat related to the issue of moving the mining farm to another location.

So Miner One became Minor One just as I predicted and now it's about to vanish.

Monday, 7 January 2019

The new DealShaker is a new DealShitter

OneCoin has been crumbling since the end of 2016 and from thereafter most of the top scammers have already left the sinking ship.

Suffering from a serious investment drought in its old market areas OneCoin and the remaining scammers have turned their focus on Africa and Latin America. To support the pillaging of people living in developing countries OneCoin introduced new remarkably cheaper education packages referred as "Legal Courses".

It's funny though that they forgot to include any education to those packages. – So much for the "we are only selling education" ruse.

OneCoin's new uneducation packages. Click to enlarge.


A member concerned about the missing education.


Still no exchange



The members of the scam have been desperately waiting for an exchange to cash out their imaginary possessions from OneCoin. Of course the company has no interest in setting up an exchange for reasons that should be obvious for anyone with even basic knowledge of economics and a half of a brain.

As an effort to divert the attention from the missing exchange OneCoin has introduced various sideshow schemes such as MAB (Mobile App Builder), IPO, ICO and a merchant platform called DealShaker.

I believe most of you readers already know what DealShaker is about, but for those who don't; in a nutshell it's a merchant platform designed to strengthen misbeliefs of delusional victims of the scam and to attract more gullible people to invest to the ponzi.

In reality the platform has turned out to be an awkward and even somewhat hilarious effort by OneCoin to build up credibility.


As OneCoin's pseudo currency has no real value there hasn't been any genuine interest towards DealShaker and the platform practically only succeeds to underline that the coin is in fact worthless. The tragicomic BMW auction speaks for itself.

To make the site appear more vital OneCoin has had fake deals manufactured to the platform. Hence there has been masses of fake deals on the platform. Usually these pre-marketed deals are systematically deleted right before they should become actually available for any customers.

I guess the failure of the merchant platform became too obvious so OneCoin's Chief Head of the Scammers decided that it was time to renew the site. So let's move on to our main course, the new DealShaker!


www.newdealshaker.com


Yeah, that's really the URL of the new version of DealShaker (aka DealShitter). Instead of having the new version of the platform replacing the old one there are now two DealShitters running separately. According to a newsletter 4th December by OneCoin scampany the reason for running those two domains is this:

"Both the old and the new platform will be operating in parallel with each for a certain period of time for your convenience. This is made to give the DealShaker users enough time to get familiar with the new features and move their current deal from the old platform to the new one. Their accounts and coins will be moved automatically."


The real reason why they ("they" because there's really no information who is running these scam things nowadays) chose to have a new domain is that the team working on the platform couldn't manage to import the old shitty deals to the new platform. So now OneCoin must have also the old version of DealShaker running. Any merchant-victim of OneCoin stupid enough to continue with this charade must move their deals manually to the new site.

The old domain (dealshaker.com) was set to expire last Friday on 4th January 2019. That should be alarming to anyone making purchases from there. But then again, who in their right mind would.

The new domain has been set to expire in November 2019. I suppose that they don't have any long term plans for the new platform then, which is only reasonable while we are talking about a crumbling ponzi scam.

Initially the new version of the platform was meant to be launched already in September. However, it was first postponed to October only to be postponed yet again and finally launched in November. Well, you shouldn't expect anything other from OneCoin – the future of delayments.

The registrar of the new domain is an Irish company Dantir Dilela Limited. The company was set up only recently on 2nd of November 2018 so there isn't much more to say about it.



Whose in charge?


The man giving his face as the "Project Lead" to the new version of the DealShaker is Duncan Arthur. According to his LinkedIn profile he has been serving as the Project Lead since October 2016. As far as I know he doesn't have any previous experience in ponzi business. Nevertheless, he doesn't seem to have a problem providing his services to a notorious ponzi-pyramid scam that has been labeled as an international criminal organisation.


Duncan Arthur, the Project Lead of DealShaker.


According to Duncan Arthur's LindkedIn profile he has been providing his services to OneCoin ponzi scheme since October 2016.


Duncan Arthur is not only a Project Lead, he has also been speaker in OneCoin related events promoting DealShaker and attending webinars organised by OneCoin's independent marketing associates.

Duncan Arthur, DealShaker "Project Manger" featuring in OneCoin's Mastermind Pro 2019 event in Singapore.


The subtitle refers to attacks to the DealShaker domain. According to Duncan those attacks were caused by"haters". – While those attacks might be totally unrelated to OneCoin being a ponzi scam, I guess Duncan is referring to people who just don't like about an international criminal organisation scamming money from gullible people.

He certainly seems to taken in the ponzi vibe. As soon as anyone involved in a ponzi starts talking about "haters" you know that they are neck-deep serious about the shit they are in.


The new site


The new version of the DealShaker (aka DealShitter) has been built on a platform apparently provided by BigStep Technologies Pvt. Ltd. As a reference BigStep has SocialEngineAddOns demo site marketing different kind of packages and the platform itself.

You really don't need to be an expert to see that the new version of DealShaker has been built on the same platform than SocialEngineAddOns. So basically a ready-to-go package was bought and modified according to the needs of the scam.

SocialEngineAddOns
DealShaker/DealShitter


What comes to the professionalism of Duncan Arthur and his chosen provider of the platform it really seems that they suit the low standards of a ponzi very well.

Respectable companies don't usually use unlicensed photos without permission, not even when a mockup is presented to a customer let alone to a larger audience. BigStep Technologies certainly doesn't seem to be afraid to take the step to misuse photos from internet. The same applies to the published version of the new DealShaker platform.

For instance, both NewDealShaker and SociaEngineAddOns demo page hold this same fake personality as "a member" of the community:


If it was a licensed stock photo the usage of the picture would be fine. However, the person in the picture is an U.S. politician Sharon R. Bock. She hasn't given her consent on using her picture on commercial use let alone on a ponzi scam related platform. How do I know? Well, I asked her – not that I didn't already know what would the answer be:


There are probably also dozens of other unlicensed photos used. For example this picture of a woman who seems to be a Korean actress:



The photo of "Kate Wilson" has been stolen from Amber Bock's Twitter profile



This is not "Gemma Weber" but Libby Robinson. I'm pretty sure her picture isn't available for commercial usage.



I don't think these people would be happy knowing their faces have been plastered on a ponzi scam related web site.


Alleged 3.5 million members, only few hundreds seem to care


Although the company claims to have 3.5 million members and the misleaders of the scam have been touting that there would be a huge number of merchants lined up to register to DealShaker, there hasn't been any evidence of this kind of popularity in the new platform.

In fact the similar kind of sales pitches were already heard prior the launch of the old DealShaker. There was supposed to be even "hundreds of thousands" of merchants waiting eagerly for the launch. In reality the platform has been nothing but successful and the the vast majority of the merchants and deals appear to be fake.

The search engine of the new platform shows that there are only three Chinese members. The number includes the site admin. This is rather strange considering that OneCoin has been boasting about having way above one million Chinese members.



All in all the search engine gives the following member counts for all possible areas:
North America: 336 members
Central America: 291 members
South America: 348 members
Caribbean: 302 members
Europe: 890
Africa: 328 members
Asia: 591 members
Oceania: 271 members
However, each search result includes also several mockup profiles and also people from all other areas so those figures aren't exactly reliable.

The search for stores available shows 549 results. I randomly clicked about 20 store profiles and only a couple of them were offering products. Most of the store profiles have only 1–20 views registered.

Products section of the platform shows 570 products. Some of the products don't seem to be available for everyone though but set as private.

As I was writing this there was only about 50 members online.

Oh, I didn't mention yet that the platform works hideously slow.

The new platform has been running now about two months so the figures aren't flattering at all to the ponzi. These are hardly numbers expected from a "billion dollar company" that has millions of members. I guess most onecoiners just don't care much about shopping and are only in it for the education.

To attract more businesses to the merchant platform of the ponzi the required portion of onecoins of a price of a deal was reduced to 10 %. However, selling products on the platform isn't exactly cheap. Quoting the terms and conditions:
"You understand that all cash transactions being done for all sales in stores are subject to a commission fee of 25% of the cash value transaction. You understand that all posted auctions are subject to a 5€ publishing fee."



Live webinar featuring Duncan Arthur


A recent webinar made it clear that any existing merchants using the old platform would have to manually move their deals to the new platform. A disappointed OneCoin affiliate reveals his frustration by commenting: "That's a shame." Duncan quickly responds: "That's not a shame. Come on!" Then the OneCoin affiliate points out that it requires a lot of work from a merchant.

OneCoin's partner who is responsible for handling KYC applications to the new DealShaker is a company named Jumio. As far as I know, outside the new DealShaker all OneCoin related KYC applications have been handled by the company itself.

Whether a KYC application sent to the service by Jumio goes through or not there's a fee of 4 euros to pay. According to FAQ section of the new DealShaker:

"There is a small fee of 4€ for this service, but everything is made to ensure 100% true and verified members, shop, products and auctions on our site. You have 2 attempts to finish the KYC process and within 5 minutes of starting the same. Make sure you have a valid ID document before starting."

What comes to OneCoin's own KYC procedure they have been approving also fake ID's. This concerns also OneCoin's Coin Offering site. I know for a fact that fake documents were approved and an imaginary person was granted a pass to participate the CO. I'm puzzled though why on earth is a KYC approval required for this in the first place because according to the T&C the Coin Offering isn't about an investment and there isn't any currency involved. Quoting:
"The CO performed will not include or in any other way involve issuance of any currency, securities (whether equity securities or otherwise) or other kind of investment certificates and/or instruments."


Exchange opening... not!


According to Duncan Arthur there's supposed to be an exchange for OneCoin on January 8th 2019. I'm sure that won't ever happen because it would just kill the cult like belief to the imaginary value of the coin.

In fact OneCoin already had an exchange once, xcoinx.com, which was running only for a short while. It became soon too obvious that there was masses trying to sell coins and no one interested in buying. The situation led to some awkward lies by Ruja Ignatova and Juha Parhiala as they explained that the sale orders were expiring because of time differences of time zones despite the sale orders were in fact continuously active for several days waiting for buyers.


MAB is dead


In this webinar Duncan pronounces OneCoin's MAB (Mobile App Builder) practically dead as it isn't compatible with the DealShaker platform. Yet the company is still selling the app. 

Well, the application was a disaster to begin with so I don't think there has been many victims who actually purchased it.

This reminds me a bit about the silently buried CoinVegas. CoinVegas was supposed to be an online casino offering standard casino attractions besides sports betting etc. Needless to say but CoinVegas was a shitty platform that was missing pretty much all the elements promised in the linked event video. Eventually the website just disappeared after the domain expired.


Sebastian Greenwood arrested




These are old news but nevertheless worth mentioning in case someone hasn't spotted them. According to news from November 2018 Sebastian Greenwood was arrested in Thailand and extradited to US. The arrest of Greenwood might be connected to a money laundering case in US involving 400 million dollars of OneCoin related money

Bangkok Post tells us: 
"The CSD also worked with the US Federal Bureau of Investigation (FBI) to apprehend Sebastian Greenwood who was wanted on a US international arrest warrant and an Interpol red notice for operating a digital currency pyramid scheme."

There hasn't been yet any news giving further information about Greenwood's case.