Tuesday, 18 October 2016

OneCoin - M.A.B. turns out to be just a mobile game (updated)

It has been suspected that there's actually no way to make transactions via OneCoin's new mobile app "M.A.B." which was launched in the Bangkok event. Inability to make transactions would make the whole app totally pointless. The fact that OneCoin urges its members to purchase the app for a hefty prize of 1.000 euros per piece, or a discount prize of 5.500 euros for seven apps, makes the situation even crazier. Why would any business owner waste time to the application as the potential customers could not even use their coins? Furthermore why would onecoiners fulfill Ruja Ignatova's wishes and spend about one billion euros to attract million business owners to use this useless app?

Hammering the last nail to the coffin

Someone asked OneCoin's customer service if it was already possible to use the coins for payments via M.A.B. According to the response it's not possible until OneCoin goes public. This must refer to Ruja Ignatova stating in Bangkok event that OneCoin will go public in the second quarter of 2018.

Question from a member:
Answer from the customer service:

The useless M.A.B. makes me wonder why it was presented in the first place. I can't think of any other reason than someone in the company's leadership assuming that this would be the next big hit among onecoiners. However the reaction to the app seems to be very lame. Maybe OneCoin should market the app as a mobile game as it would be a more appropriate description of it.

Update 19 October:

OneCoin reps lying about the merchants

Despite the fact that onecoins can't be used anywhere, after the Bangkok event OneCoin reps have been spreading lies about onecoin being accepted for payments. Here's a screenshot from Kari Wahlroos's Facebook page posted 9th October:

He's the "Ambassador" of OneCoin and claims deceitfully that there are already 1.000 shops where anyone can make purchases using onecoins. Do the owners of those 1.000 shops know that they have to wait for two years for their customers to be able to pay? 

In the video below Juha Parhiala is selling the app to a victim, apparently a bar owner. Parhiala doesn't mention at all that no merchant will be able to actually accept the coins for payments. On the contrary he claims that after the business owner has the application it would attract onecoiners to the bar in question - because "There's a bar here who accept onecoin." 

Of course the true believers of OneCoin will not abandon the company, not even if the company's name were changed to Ponzi. However the useless M.A.B. sold with deceitful information and the members having difficulties in selling their (now doubled) coins should at least open some eyes. Maybe the tombstone I made in March won't be wasted after all:

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