Wednesday, 17 October 2018

OneCoin bank accounts in Latin America

Below you can find bank accounts related to ponzi-pyramid scam OneCoin (aka OneLife) in Latin America. I have no information whether all these bank accounts are still active. Some of them might already be frozen – or about to be frozen.





Argentina

Bank: Banco Galicia
Bank account holder: One Network Servicios Argentina
Account number: 3648-3-306-7
CBU: 0070306020000003648377


Colombia

Bank: Bancolombia 
Type of account: Savings 
Bank account holder: PAYMENT EXPRESS SAS 
Account number: 237.659783-78 
NIT: 900.513.308 

Bank: Bancolombia 
Type of account: Savings 
Bank account holder: ESSENTIAL 7/24 
Account number: 237-656055-55 
NIT: 900.728.368-5

Bank: Bancolombia 
Type of account: Savings 
Bank account holder: ONE NETWORK SERVICES COLOMBIA SAS 
Account number: 237-661120-81 
NIT: 900.976.785


Costa Rica

Bank: Banco Promerica
Bank account holder: OLCR BIZITZABAT SA

Account number: 30000001858999 
Client: 11610300018589995 

Account number for dollars: 40000001859319 
Client: 11610400018593193


Dominican Republic

Bank: Banco Popular
Bank account holder: One Life Servicios
Account number for pesos: 799632518 
Account number for dollars: 799633334


Ecuador

Bank: Banco Pichincha
Bank account holder: One Network Servicios Ecuador S.A.
Account number: 2100134325


Mexico

Bank: Banco Inbursa
Bank account holder: Bramex Easy SA de CV
Account number: 50030515053
Clabe interbancaria: 036180500305150531
– This account is suspected to have been closed.

Bank: Banco Banamex
Bank account holder: Bramex Easy SA de CV
Account number: 9289607888
Clabe interbancaria: 002180700245406247


Panama

Bank: St. Georges Bank
Bank account holder: ONE DREAM TEAM PANAMÁ, S.A.
Account number: 2503136

– There are some familiar names behind the company that holds that bank account:
Christian Steinkeller
Jose Antonio Gordo Valero (aka Jose Gordo)
Maria Eugenia Diaz Cordero


Source: https://opencorporates.com/companies/pa/155619499


Jose Gordo on the left, Christian Steinkeller on the right.

Friday, 5 October 2018

Money laundering



Yesterday an interesting article occurred on Helsingin Sanomat website referring to news related to suspected money laundering that happened in Danske Bank's Estonian branch during 2007–2015.

The case has probably absolutely nothing to do with the scams I have written about in my blog. Nevertheless, there was some information worth mentioning what comes to money laundering and banks in general.

Danske Bank is the largest bank in Denmark. It also operates in several countries in the northern European region.

The money laundering suspicion concerns a total amount of 200 billion euros transferred between 2007 and 2015 through Danske Bank's Estonian branch.

Now, what's interesting is that despite being an European bank, Danske Bank is facing criminal investigation by U.S. authorities. The bank is now cooperating with U.S. Department of Justice over Estonian branch. But why US authorities are investigating an European bank?

Another article by Helsingin Sanomat related to the money laundering case enlightens us about the matter.

The article tells us that American JP Morgan, one of the largest banks in the world, had been transferring US dollar payments of the Estonian Danske Bank. In July 2013 JP Morgan quitted operating payments and gave a serious warning to the Estonian Danske Bank after noticing suspicious backgrounds of its clients. 

According to anti-money laundering regulation banks must know the exact beneficials of the accounts of their clients. What comes to the Estonian money laundering case, the bank has been severely neglecting its duties. 

Apparently banks of the U.S. are very observant what comes to money laundering. For example last year Deutsche Bank was fined 630 million dollars for failures over Russian money laundering



Scams, fear the U.S!





Strict policies of U.S. regulation and nosy banks are also a fact acknowledged by scams throughout the world. Hence scams operating outside the U.S. usually try to exclude U.S. citizens from participating. – Well, it's not like they really make an effort to prevent dollars from coming in.

During these nearly three years that my blog has existed among many banks that have visited is also JP Morgan. Taking a closer look on the visitor statistics show 57 users from the bank between August 2016 to August 2018. Most of the visits go to OneCoin related posts. Well, I'm just guessing here, but maybe JP Morgan was interested in money transfers involving dollars.




There has also been some visits from the IRS, which is not surprising now that it is known that there has been a criminal investigation of money laundering considering 400 million dollars related to OneCoin. 

The risks involved in traditional money laundering has driven many scams to choose other payment methods instead of wire transfers between banks. Sadly also cryptocurrency is growing its popularity as a payment method for scams, and from what I have seen, there are plenty of gullible people holding cryptocurrencies.

Thursday, 30 August 2018

OneCoin follow-up

OneCoin 2015 – 2018.


Crumbling remains of the pyramid


A successful scam usually has cult like members who continue believing in the scam even at the point when the whole pyramid is collapsing around them. This is also where we are at with OneCoin.

There are still members who are clinging to the hope of OneCoin going public and thus the imaginary value of the coin would magically turn into reality. One fact that they comfortable seem to forget is that it isn't relevant whether there are hundreds of thousands or 3,5 million members believing in the lie. There isn't going to be masses of even more gullible people to bail them out from their misery.

The members of OneCoin are supposedly holding about 60 billion onecoins, most of them very eager to sell all of their possessions as soon as possible. According to the dictated value of the coin, which is a bit above 20 euros at the moment, that's about 1200 billion euros. You have to be absolutely delusional to imagine people outside the cult buying these coins. And you only have to know the basics of economics to understand what would happen if the coin ever was successfully launched to open market.

Furthermore the latest news about OneCoin once again delaying the big day of going public seem to have agitated also some of the hardest believers to ask questions and demand answers.



Google Trends


In September 2016 OneCoin's popularity on Google was peaking and the company proudly claimed to have reached 2.5 million members. Currently the counter of the website claims that OneCoin has almost 3.5 million members. However this increase of 1 million members doesn't reflect at all on Google Trends. Search term "onecoin" has the popularity of about 20 % compared to the highest mark in September 2016.


Between those red vertical lines there has been an increase of 1 million members. Yet OneCoin's popularity on Google has gone down remarkably from the peak in September 2016. 

Google Trends can be a great tool for comparing popularities of different search terms. For instance OneCoin has been marketed as the biggest cryptocurrency in the world, also as "the Bitcoin killer" in addition to other nonsensical claims. On Google Trends we see a totally different story. Compared to other known cryptocurrencies OneCoin seems to be practically unknown to the general public. Adding Bitcoin to the comparison shows OneCoin's popularity as a flat line.


Comparing search term "onecoin" to "bitcoin" on Google Trends.

The stats shown by Google Trend are no surprise to me. Usually when OneCoin comes up in a conversation I have to explain what it is. Recently I talked to a fried who lives in an area that is most likely the worst OneCoin infected area in Finland. He had never heard about OneCoin.



Alexa.com


OneCoin's DealShaker platform presents a counter that has had linear growth of merchants and logged-in-members throughout the existence of the site. Alexa.com shows a rather drastic decline in popularity of the site which indicates that the figures given by OneCoin aren't trustworthy.




Over 70.000 merchants but only about 15.000 shitty deals available. Total amount of users logged in is very far from the alleged 3.5 million members of OneCoin. Seems that vast majority of them aren't interested about DealShaker.



Alleged 3.5 million members but not much interest towards DealShitter.


The popularity of the site has been declining despite the continuously growing number of members.



The BMW auction


In June there was a big marketing event of DealShaker and the climax was an auction of a BMW car that was going to be hammered for 100 % onecoins.

A video clip of the auction shows GLG (Global Leader Group) members of OneCoin running the auction. GLG is supposed to be a group of OneCoin leaders that are the highest in the hierarchy what comes to the IMAs (Independent Marketing Associates) of OneCoin/OneLife. They are the ones that members can rely on as a source of real disinformation.





Immediately after the auction was over it was praised as a great success and as a proof that you can buy even a BMW sports car with onecoins. The auction starts with a modest bid of 1.000 onecoins, next bid was 2.000 onecoins and the third one 2.300 onecoins. According to the dictated value of onecoin the third bid was close to the actual retail price of the car, which is probably something between 40k-50k euros. However, the auction didn't stop there. The final bid for the car was staggering 3.6 million onecoins. According to the imaginary value of the coin that would be well above 70 million euros for a BMW worth about 40k euros. Or to be more precise the value of onecoin in this transaction would be about 0.011 euro.

It's funny how the GLG members got more and more excited as the imaginary value of the coin was bombarded down by every bid, starting from the very beginning of the auction.


GLG member Mihail Petrovic thinks that the auction was fantastic.

Of course the auction got ridiculed online because it truly showed that not even the top leaders of OneCoin valued the coin even close to the imaginary value of the coin. However, the company was swift to interfere and as a result the auction was voided. Apparently OneCoin's members can't even use their coins as they will. Everything is controlled by the scampany.






Top leaders  and management abandoned the ship


The whole leadership of the company is gone and the majority of the top earners of the scam have moved on, many of them to other scams. Many of the loudest supporters and believers of OneCoin have gone quiet. Konstantin Ignatov stepped in to replace his sister who fled from the EU region and was never to be heard again.


Sebastian Greenwood, Global Master Distributor




Sebastian Greenwood left OneCoin in December 2017 after being in OneCoin since the beginning. His name popped up in China in May 2018 after Chinese authorities investigating OneCoin scam had frozen a bank account of Greenwood's holding 7.1 million dollars.


Bangkok 2016, Sebastian Greenwood lying about the birthday cake of OneCoin:
"The biggest cake ever" ... "And this cake is two meters by two meters in diameter."


Frank Ricketts


Frank Ricketts, the captain of the shipwreck.

Frank Ricketts was appointed as the "captain" of the ship(-wreck) as Greenwood was making his way to exit. Awkwardly this fresh captain left without telling about it to his drowning passengers. The company itself didn't inform about the departure of Ricketts. Instead the news were milked from a member of the Global Leaders Group (GLG).


Pablo Munoz, CEO of OneLife




We still don't know why Pablo Munoz disappeared from the position of OneLife CEO. The company was loud to introduce him but buried him very quietly. – Oh, they didn't bury him literally. As far as I know Munoz is still alive. I don't think he misses his short reign though.

The LinkedIn profile of Munoz doesn't mention a thing about his position in OneLife.


Pierre "Pitt" Arens, CEO of OneCoin


Pierre Arens was introduced as the new CEO of OneCoin in May 2017.

Pierre "Pitt" Arens quitted as the CEO of OneCoin holding the position only about 5 months. His LinkedIn profile still doesn't mention a thing about being the CEO of "the biggest cryptocurrency of the world". According to Arens the reason for his departure was: "a lack of leeway as a leader". – Oh, i guess it had nothing to do with the company being a scam then.


Ruja Ignatova, the visionary, the founder, the queen of the crypt




The beloved leader of the ponzi disappeared in October 2017 and was never heard again. When OneCoin's offices were raided in January 2018 it became obvious that she had fled the EU region.

After Ruja Ignatova left the scam her brother Konstantin Ignatov took over as the head of the ponzi. It remains to be seen how long that lasts.



Konstantin plays the role of the head of the company but behind the curtains the real manager of One Network Services is certain Christian Manolov. However Manolov is apparently just a puppet put in charge of a strange circle of companies owning each other. Read this article by Bulgarian Capital to know more about the companies behind OneCoin.


Edward Ludbrook

I think there's one man behind OneCoin who has not given the praise that he deserves. I mean, he is after all the man who by his own words was behind the idea of creating the new blockchain for OneCoin in October 2016.

Edward Ludbrook was once "The Chief Leadership Officer" and "the Asian Ambassador" of the scam. To bring credibility to OneCoin and to himself Ludbrook was also keen on boasting how he had advised the British government on the pyramid law legislation in the 90's. I don't know if that's true, but while he was a loyal lackey of OneCoin this expert of pyramid legislation was in fact urging people to disregard any warnings about OneCoin.

After leaving the company Lubrook has tried to distance himself from the scam. He has removed all posts from his Facebook page regarding OneCoin. The only one I managed to find was this:


– Well he obviously has also focused on deleting material that connects him to OneCoin/OneLife.

His LinkedIn profile page is nowadays missing the 11 months he spent consulting a ponzi-pyramid scam. Luckily someone took a screencap before the reference was removed. According to Ludbrook he was "misled by the CEO of OneLife" (Ruja Ignatova) and he also addresses "deep concerns over the company." – I guess those concerns were not deep enough to give a shit about the victims of the ponzi.


Ludbrook: "I was misled by the CEO and have deep concerns over the company."

Although he was not the Consultant of OneLife after September 2016 he did continue as Asian Ambassador of OneLife for an unknown period.


Ludbrook as "Asian Ambassador" of OneLife in October 2016.


After getting out of the relationship with OneCoin Ludbrook has written a piece on Medium platform titled "How to spot a crypto-scam?" He writes:
"90% of true scams are easy to spot. And frankly most people join these knowing that they look weak and they just hope they can make a quick profit.
Its the 10% that are hard to spot. I was recruited into a crypto-business that had everything right except…. So anyone can be caught. It happens to the best of us."

– It happens to the best of us? – No, it doesn't happen to the best of us. The true nature of OneCoin was easy to spot since the day one. That's why there were so many people warning about the scam from the early on. There has also been numerous warnings from banks, governments and police.

By the way, an earlier edition of the article by Ludbrook was a bit more revealing:


Now who might this "con-woman" be?



Ed Ludbrook: 
"I don't think stupid people should be allowed to be in OneCoin."




Here's Ed Ludbrook discouraging people from searching information about OneCoin and urging to disregard any warnings:



So Mr Ludbrook, you claim you were somehow misled by Ruja Ignatova. How many people did you mislead?

Thursday, 23 August 2018

OneCoin – The Big Reveal

Lately there has been a lot of buzz among OneCoin members about "the Big Reveal" that was coming. A counter had emerged on a OneCoin related website, onecoinico.io, and the due date was yesterday. However the counter was set up to go along whatever time zone and time was set to a clock of a pc so the counter was showing different figures depending on one's time zone.




This screenshot was taken shortly after 12:00 pm (+2 GMT). The counter stalled to 1 second for a quite some time...
... Later the counter disappeared but nothing happened for hours. Well, at least the counter wasn't replaced by another counter like during the earlier ICO failure.


Funny enough, there seems to be trust issues among the members about the website. Some of them are even suspecting that it's just a plan of "haters" to distract and maybe mislead the members. As a reminder the website has been officially connected to the mother scam before. OneCoin was promoting its first ICO charade in 2017 and was urging members to participate it. The ICO was soon to be buried before getting anything started.


Onecoinico.io and the roadmap


Well, finally the website was published today. It seems to mimic all other ICO scams out there. However, OneCoin's ICO site differs somewhat. The website doesn't introduce any team or people behind the project, not even details of a company can be found. Most of the content is just familiar marketing mumbo jumbo that we have seen before. There's even a Telegram channel, but it's not open for discussion – not that I'm surprised.

The company has been claiming for years that there already is a cryptocurrency named OneCoin and a running blockchain so running an ICO doesn't make any sense – that is if we were not talking about a scam. Nevertheless it's rather strange to run an ICO to raise funds for a company that has been boasting that it doesn't need any more money.

The actual reason for this ICO is probably just to reboot the scam, to give it some new boost and lengthen its lifespan by exploiting the remains of the pyramid and possible new recruits that are gullible enough to believe in this despite all the red flags and warnings.


The Roadmap of OneCoin ICO. (click to enlarge)

Too bad for the scammers that many of the members are getting fed up with all the delays that OneCoin has had. Initially OneCoin was going to be public in 2016. Later the going-public-date was set to October 2018, the date that was eagerly anticipated by the members. Now it's postponed to the unknown future due a strange ICO phase.

In fact the ICO website doesn't mention anything about the coin going public. During the ICO there are coins gradually "released" to the people obtaining "OFCs". – Not a thing about going public or setting up a cryptocurrency wallet. Nothing about the onecoins that the members already possess.

The roadmap states that "All coins acquired by participants will be available to them lately, on October 8, 2019, at the output of the project at full capacity." – Since the roadmap is referring to the "project" I believe it's all about converting OFCs into onecoins, not about going public. Going public doesn't even matter to the company because it would only show the real market value of the worthless coin in an instance.


The Big Reveal: OneCoin is going to use Ethereum blockchain to create 120 billion OneCoins?


Someone spotted that the Smart Contract viewable on onecoinico.io held some very delicate information. According to the Smart Contract it seemed that the company was going to use Ethereum blockchain to create 120 billion OneCoins. Yes, all those 120 billion coins that OneCoin has claimed to have its own blockchain for.



Click to englarge.

After this accidental information spill was posted on a OneCoin related forum the Smart Contract was quickly removed from the ICO website. – Nothing fishy here! LOL!

Yeah, it might be a bitch to get a scam coin without a blockchain converted to a legit cryptocurrency. Meanwhile the members of OneCoin have yet another year to wait for further delays.

Here's a link to the copied version of the Smart Contract.


Update 24 August


Apparently OneCoin has already been turned down by six of the 12 exchanges that the company was contacting. 

This screen shot is from the ICO site from yesterday:



This screen shot was taken just a while ago:


Update 28 August: All the exchanges were removed yesterday and today the entire site was IP-blocked for traffic coming from EU countries.

Here's an archived version of the ICO website.

Tuesday, 3 July 2018

War Field – Shipping containers and lies #MinerOne

It seems to be a year of scam-ICOs. The word ICO (Initial Coin Offering) has been so sexy among scammers that it's hard to avoid bumping into a scam using it. And you really don't have to dig your hands deep into the murky side of the internet to find them. Some of these scams have gone as far as boldly advertising themselves online.


War Field – Miner One's sideshow project






I had subscribed to Miner One's newsletter to find out latest happenings in the scheme. The newsletter released on June 28 was headlined: "What Is WAR FIELD? A VIP Offer for the Miner One Community". 

The newsletter continues:  
"Miner One is pleased to announce that co-founder Andrius Mironovskis is leading a new project called WAR FIELD. 
WAR FIELD is an ICO and a "first-person shooter" video game that offers an ERC20 token called GOLDER. Players can stake GOLDER on their gameplay, win GOLDER from their opponents, withdraw them and trade them freely on cryptocurrency exchanges (once the ICO ends).  
"WAR FIELD is an exciting new project that will offer the video gaming community something they've never had before: the possibility of winning real, tradeable, and valuable cryptocurrency for skilful video gameplay," notes Miner One CEO Pranas Slusnys."

Okay, so it's going to be a new cryptocurrency that has no usage outside the gameworld of War Field. In-game currency isn't exactly a new invention and this fact is also acknowledged by War Field in its white paper. 

But what is this GOLDER coin for then? The white paper introduces a problem and a solution that GOLDER is supposed to provide:

"In-game currencies in the form of coins, credits, virtual notes, and tokens are nothing new. But usually they only work one way: a player uses real money to buy ingame tokens and spends them in the game on digital items such as power-ups, additional lives, equipment or enhancements, to shorten wait times etc." 
"By leveraging revolutionary blockchain technology, we will offer the possibility of withdrawing earned or saved GOLDER and selling them on exchanges or directly using the Ethereum network."

Well, you can call me sceptic but I really don't see how that's going to work out. I'm not saying that an in-game currency couldn't evolve into a currency that has actual value for some. However, I think there's actually a reason why for example many modern mobile games use in-game currencies that can't be reversed into fiat currency. – That's because it's in-game currency! You are supposed to lose your money in an instance when you exchange your fiat money for in-game money or purchase products made out of pixels; a new armour, a better gun and a new haircut for your game character.

However, generally speaking all in-game items and even in-game currencies are practically worthless. You can have a level 91 Elf with a Mighty Sword of Dragon Dung worth thousands of elf-credits, but the general public couldn't care less about your worthless gear and the amount of time you have invested in your game character. Game developers earn money from in-game purchases so it's not exactly in their interest to start running a convertible currency to go along with the gameworld.



The Team


The team and advisors behind War Field ICO and the game is partly the same that is behind the ICO of Miner One. 


Andrius Mironovskis, Rimas Puriuskis, Darius Udrys and Jonas Udris appear also in the team of Miner One. Click to enlarge.


The game


Well, let's see what's this War Field about. As the website of the game describes it: 
"WAR FIELD is the online multiplayer first-person shooter game that lets you win cryptocurrency from your opponents."

There's also an alpha version online to test the game free of charge so I took a test drive to see the actual game. I don't think there's much to say about. It's a crappy first-person shooter happening on a cargo ship. The game area is rather small and there isn't much else to see but shipping containers.

A screenshot from War Field. There was only one opponent but a lot of shipping containers. Too bad none of them seemed to have Miner One's Antminers installed.

A short video clip of the game:





The website and the lies





Interestingly the website of War Field is promising that the game is going to be released soon on Xbox and PlayStation in addition to "AppStore" and "Play Store". 

Well, I believe Microsoft and Sony would be the first to know if such game would be released on their platforms. I mean this will certainly be groundbreaking for them if they actually were going to integrate this cryptocurrency GOLDER into their services. I'm surprised that this hasn't been on news already.

The road map of War Field goes as far as even setting a date for the release of Xbox and PlayStation versions of the game. It's going be available on May 15 2019. I had serious doubts whether this information was accurate and if the company behind the game, The Blockchain International FZE, has even permission to use the brands of Xbox and PlayStation for marketing this investment opportunity. So I decided to contact Microsoft and Sony about the issue. The conversation I had with a representative of Microsoft only strengthened my suspicions. I haven't received any response from Sony yet.   

Release on Xbox and PlayStation on May 15 2019. I wonder if Microsoft and Sony know about this deal yet?

I contacted also the team behind War Field ICO via Telegram and asked about the issue. I was actually surprised to get answers to my questions because I had previously been kicked out from Miner One's Telegram group for asking questions. I was even more astonished how the team member of War Field blurted out that the release date on the Road Map was just something they had made up, and thus a lie. You can read the whole conversation below:


Click to enlarge.

Here's a link to an archived version of warfield.com just in case.



The Conclusion


Based on the fact that the team is blatantly lying to promote this ICO I consider it as a scam and not to be trusted. Lying about the game being released soon on Xbox and PlayStation and going as far as giving an exact date of this bullshit is really just more than enough to anyone even with half a brain to draw the right conclusion, not to even mention that Microsoft and Sony would have to integrate this scammy cryptocurrency to their platforms.