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Wednesday, 21 June 2017

OneCoin - Reps using fake news



After losing all public bank accounts OneCoin has had, the scam has been withering away in Europe for months. In addition to serious banking problems also regulators and authorities have been closing in on OneCoin in Europe. All this has driven the top scammers from EU region to concentrate heavily on screwing people in Asia, Africa and South America.



Norway is going to be no way for OneCoin's ponzi business


There are countries in the EU region such as Germany and Italy who have already banned all activities of OneCoin. 

Also Norwegian authorities are now closing in on OneCoin. A letter dated 6th of June from the Norwegian Gaming Board directed to OneCoin /OneLife states:

"The Lottery Authority asks you to provide names and addresses of those who operate OneLife OneCoin in Norway by receiving revenues from OneLife OneCoin and are members resident in Norway. We also want to be informed of which Member State / Title the different persons are hair. Please send us this information as soon as possible and by 20 June 2017."

The deadline to fulfil Gaming Board's request was yesterday. Unless OneCoin's Norwegian representatives were even able or willing to provide all the necessary information - which I seriously doubt - there are going to be consequences:

"Failure to fulfill the documentation requirement is penalized, cf. section 17 of the Lottery Act."

It remains to be seen what happens next. So far there has been no statements from OneCoin regarding the situation in Norway.



OneCoin - The Future of Delayments


All OneLife Network Ltd can do at this point is to come up with new ways to delay the inevitable end of the scam. Closing Xcoinc.com, DealShaker and IPO/OFC plots just keep this end of the charade dragging on.

Google Trends has been showing declining interest towards OneCoin starting from the mid November 2016. Comparing its chart next to the one of Recyclix, which is a ponzi pyramid that already collapsed, noticeable similarities can be seen how these collapsing scams attract less and less attention. A significant difference between OneCoin and Recyclix is that the latter went down very quickly after losing its bank accounts. OneCoin on the other hand can still operate through some shady bank accounts and extensive money laundering.




It goes without saying that these graphs are not showing growing networks. Also bear in mind that Google Trends shows the overall popularity of a search term - including searches done by both sides, those who are members and those who are not.



OneCoin reps spreading fake news


As a countermeasure for all bad press OneCoin reps like to spread fake news to lure gullible people to hand their savings to them. The reps are known to also advice people not to search information about OneCoin from Google. That's because there's already so much information available revealing the scam as it is.




Vietnamgate


The latest fake news launched was about Vietnam's government issuing a trading license to OneCoin:


There was only a photographed document in Vietnamese to support the claim, but that didn't stop the scammers from using it as a proof. A Vietnamese newspaper ĐẤU THẦU published an article yesterday revealing that the document was in fact forged.


Olympicgate


At OneLife event in Tokyo 2017 OneCoin's new CEO Pierre Arens goes as far as exploiting Olympics to promote the ponzi scam:
"We want to be the number one cryptocurrency to be used for Tokyo 2020...
So that all athletes that come from around the world, the journalists that come from around the world, they do not need to exchange their local currency to Yen, they can of course do that, but it’s much easier for them just to go into a shop, buy their tickets online and pay with OneCoin. So here we are, ladies and gentlemen."

- I wonder what the International Olympic Committee might think about that bullshit you shat from your mouth, Pierre.

Tuesday, 13 June 2017

OneCoin - Greetings to the Sofia office!


Greetings to you, dear visitor from the headquarters of the ponzi!










Now that I know there are employees - maybe even Dr. Ignatova herself - from OneCoin's office popping by every now and then, why not spend a while answering some questions? I mean, you could easily clean the name of OneCoin by answering some simple questions. Well, I know you won't, but aren't we having fun already?

And just to make clear to everyone that you have been visiting, here are some statistics of my blog:




All in all there has been 66 sessions since 19 August 2016 originating to a service provider "sot scurity technics" located in Sofia. I had already been suspecting that the service provider in questions might be referring to visits made from OneCoin's headquarters. Just recently visits referring to a "ticket" emerged and confirmed my suspicions.

OneCoin's customer service uses a ticket system to handle any questions the ponzi victims might have. So it's obvious that a member has made complaints or questions about my blog to OneCoin's customer service. Hence the visits referring to the ticket system.

I find it likely that the vast majority if not all the visits from sot scurity technics came from OneCoin's headquarters.



Question time!


Well, what to ask you, dear representative of OneLife Network Ltd. There are so many questions, many of them already asked in this blog without any answers given. Not even by onecoiners. 

Well, here we go!
1. What is the education included in the most expensive education packages you sell? For example those top four on this list: 

 
Bonus questions: What's the point selling combo packages? Why is it even possible to buy several identical education packages, let alone a member having multiple accounts all with same education packages? Aren't you supposed to sell only education?

2. Why did you lie about having a blockchain? - It's evident that you haven't had one, so we can cut the bullshit. 

3. Why wasn't the White Paper published?

4. What's the point of the KYC procedure when you're supposed to provide a cryptocurrency to people without proper documents for identification? OneCoin's KYC procedure prevents anyone without an ID to even possess any coins. 

5. Why has Ruja Ignatova been lying? For example: 
- She has claimed having no experience related to network marketing prior to OneCoin. However she was involved in BigCoin scam before OneCoin. 
- When asked in 2016 why almost all coin sell offers tend to expire, she claimed it was caused by the time difference: "When you're awake China sleeps." This was just utter illogical nonsense that had no relevance to the inner market place. 
- She has been implying being a cryptocurrency genius creating a cryptocurrency called OneCoin. However, there hasn't been a cryptocurrency. Just toy money.

Alrighty, just five questions for now. You are spending time here anyway so there's no reason not to clear these things that cast an enormous shadow over OneCoin/OneLife... Unless, of course, it's a ponzi pyramid scam.

Oh, just one additional question. How can you work for an international ponzi scheme? Does it require anything else than total absence of moral backbone?

PS. Thank's to the member ticketing the customer service! You know who you are.



Update 14 June, 2017 - The day after:


Among today's visitors:


Some details (not visible on the screenshot) indicate that those visits were made by three individuals.




Friday, 2 June 2017

OneCoin - the unpublished White Paper




Well, it has been almost four weeks after the event in Macau. I guess at this point it's safe to say that OneCoin isn't going to publish the White Paper it had bought from DXMarkets. Deciding not to publish it makes the whole point of having a white paper totally meaningless and only raises suspicions about its content.


OneCoin's new CEO Pierre Arens and the unpublished White Paper.



Instead of publishing the White Paper the management of the ponzi seems to have released it only to an inside group. I have been informed that there's a message attached, which forbids from sharing the White Paper with the outside world. This forbiddance to reveal the document only speaks for itself. After checking out the White Paper it's easy to understand why they wanted to hide it from outsiders.

Of course we can't be 100 % sure if this copy was meant to be the actual and final version of the White Paper by Marcelo Garcia Casil. Whatever the case, OneCoin is now exploiting it to wipe away any worries the cult members might have.

The document is 11 pages long including the cover. It's of course supposed to be about OneCoin, however it takes all the way to page 8 until the subject actually arises. This paper is very far from convincing anyone about OneCoin being a legit cryptocurrency. We already know that
Marcelo Garcia Casil wrote it about a blockchain delivered by DXMarkets. So the document has nothing to do with the blockchain OneCoin claimed to possess.




OneLife Network Ltd given a cease and desist order in Belize


After getting banned in Germany and Italy the latest crushing blow was given by tax haven Belize where Onelife Network Ltd is located. The financial regulator of the country has given a cease and desist order to the company on 29 May:
"It has come to the notice of the International Financial Services Commission of Belize (IFSC) that an entity calling itself ‘One Life Network Limited’, an International Business Company registered in Belize, is conducting trading without first obtaining the required licence from the IFSC. 
This entity is not licensed/regulated by the International Financial Services Commission or any other competent authority in Belize to conduct any type of trading business. 
One Life Network Limited is therefore directed to cease and desist from carrying on with the said unlicensed activities which constitute an offence under the laws of Belize."

The ponzi ship must now sail to find a new haven to anchor itself. However, finding a new spot might be trickier than ever. OneCoin has over 20 bank accounts frozen, an increasing number of countries warning about the scam, representatives of the company getting arrested, police investigations going on, more and more bad press about the scheme follows, and so does the overall bad reputation grow accordingly.



Some graphs


These graphs indicate that OneCoin/OneLife scam has been in decline ever since the company lost the last one of its bank accounts.

Alexa.com shows the popularity of Onelife.eu. Despite OneCoin has been bragging about its constantly growing member count the traffic to the website has been declining after November 2016.
OneCoin went unbanked on 14 November 2016.


The graph on Similarweb.com goes along with the one on Alexa.com.





The popularity of DealShaker.com is showing a beginning of a nosedive:


Recyclix trying to pay its way out from the deep shit?




This tragicomedy just keeps on continuing. You can read about the previous developments of the two sides arguing from my earlier blog post 19 May.

Earlier this week the side running the official webpage recyclix.com published bank statements of an account held by reCyclix sp. z o.o in Czech bank ČSOB. The pdf files seemed to be genuine bank statements revealing hundreds of pages detailed information about deposits to and from the company's account.

Yesterday the other side running the so called official blog of the company published a statement condemning the measures of their enemies who they refer as "Raiders". Yaroslav Mikhalsky (presumably a fake name) running the blog also shared a list of Recyclix members who are included "in the first phase of the compensation provision program". The list contains 700-800 member accounts with an identifier code and individual amounts to be refunded. As Recyclix has claimed having around 1 million members, I guess the procedure to compensate the victims could take some time.

However, as far as I understood the "refund amounts" are only partial sums to compensate the original investment lost. Even then I have serious doubts whether all the members will be refunded - if any at all. It could be just delay of the game tactics.

As I have said before, neither side of the scam should be trusted. It seems that the scammers are now grabbing on anything that could buy some more time and prevent the members from filing police reports about the case.




Update 30 June 2017


I took a glimpse at a Facebook group of German Recyclix members and noticed some posts stating no compensation has been paid to the members of the "first phase of compensation provision program".

I can't say that I was surprised. As a matter of fact, it would had been mind blowing if the scammers had made any compensation payments.

I have found several Facebook groups indicating that Recyclix was a very wide spread scam.

Google Trends show a typical graph of a collapsed pyramid scam. The interest towards Recyclix has gone very low: