Sunday, 12 June 2016

OneCoin - After the London event, part I

Well, there's not much to say yet. However, OneCoin makes some major changes and reveals them only to a selected audience in an event? Really? OneCoin was a bad joke from the beginning and as time goes by it isn't getting any better. And what legitimate company organizes an event as poorly as OneCoin?

Anyway, this is what we outsiders know at the time:

OneCoin? - OneLife?

OneCoin renewed its web site... or is it OneLife now? I don't know because I'm just a regular rookie customer who was not participating the event. (To those who didn't already know it: I have a free rookie account in OneCoin to catch all the latest news and so on. Although I don't have a paid membership the user account shows almost everything that a paying customer sees - except the inner market place.)

So now they have two web sites: and For some unknown reason login in jumps you to the OneLife web page. I guess intentionally. I would assume that all the bad press has forced them to finally change the name of the concept. Now that they use "OneLife" it gives a lot less bad search results in Google. Therefore marketing the ponzi is a bit easier for a while. Just don't google "onecoin"!

Lying about the number of attendance

(Update 13 june: Apparently the ticket sales was appalling but as it turned out they still managed to fill most of the empty seats assumingly with members that were handed a free ticket.)

This is what OneCoin tweeted
As I mentioned in the earlier update in my blog, there was maybe 700-800 seats reserved for the event so the ticket sales was really appalling for a venue like the SSE Arena. Nevertheless OneCoin tweeted a blatant lie of more than 3000 people attending the show. According to the ticket sales that AXS's web site was showing before the event that figure is simply impossible.

This picture reveals the biggest pack of the audience.
That's the A section and the first half of the B section. Those sections together hold a bit short of 1400 people. OneCoin sold barely half of those seats according to AXS.

Selling a humongously overpriced tablet called "OneTablet"

They are going to sell a cheap tablet which is humongously overpriced. For 550 euros that they will be charging you'll get much better equipment from... I would say from anywhere else. Of course the tablet they are selling must include something special: Ruja's autograph? Golden covers? I don't know yet. I guess they only told to the paying audience in London.

Well, the OneLife web page reveals us following:
"The OneLife Network’s FIRST physical Premium Line product. This tablet offers everything necessary to enhance your learning, mining and trading experience. Equipped with the latest features, it ensures you will always be one step ahead in your business dealings."
- That's all they say. Then there are the specs of the machine which indicate that it is a low budget tablet probably manufactured in a garage somewhere in China. Why would anyone buy that piece of shit for 550 euros is beyond me.

2 million members!

What a coincidence! Just hours before the event OneCoin gained a massive injection of new members that filled the member ticker to readings above 2 million. I wonder from what other scam they got the new members. They have already added Conligus, Univerteam, OPN and Sitetalk.

Well, what about the merchants? Tell me about the merchants and shops!

This was probably the most anticipated thing the members were anxiously waiting to hear. However, so far I have seen no news about merchants from the London event. Not that I was expecting any.

A video clip from the event

Well, well, well, isn't it Chris Principe from the Financial IT magazine on stage at the CoinRush event. In the video clip he explains that banks are like our enemies and crypto currency is the way to go. I just don't get it how come a ponzi scheme like OneCoin is better option than a bank? At the end of the video he makes it painfully clear that who is his master.

I watched couple more videos from the event but there was nothing much to say about them. There was Sebastian Greenwood and Kari Wahlroos encouraging people to scam more to join the ponzi. A slide showing a plan that in two years there is going to be 10 million members and 1 million merchants.

Sebastian Greenwood and Kari Wahlroos blabbering for half an hour.

YouTube had also some videos from a "Diamond Gala" which happened presumably yesterday. There an auction was kept to raise money for the One World Foundation that's supposed to help children in need as well as give prizes in violin contests.

Diamond Gala and the charity auction.


  1. Ijust cannot believe that auhorities do not take any serious action to arrest this Ruza and company

    1. That's the tricky part of international scams; the head of the snake is usually too far for authorities to reach.

      However even Ruja Ignatova isn't untouchable. She got a fraud conviction in Germany this spring - not from a ponzi scheme though:

  2. Spell check your first paragraph and you will get more credibility

    1. What comes to credibility, OneCoin has none. So minor mistakes in grammar here and there shouldn't be a big issue. Nevertheless I'm thankful for pointing out anything that would better be fixed. So thanks, Keith!

      There must be a lot of other grammar mistakes in my blog. However I'm trying to do my best with my English skills and with the time I have, so please bear with me.


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