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OneCoin - the unpublished White Paper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OneCoin's new CEO Pierre Arens and the unpublished White Paper.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. shows the popularity of 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 goes along with the one on

The popularity of is showing a beginning of a nosedive:

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