OneCoin MLM Scheme References Bitcoin To Attract Investors
The world of Bitcoin and the digital currency has seen its fair share of scams, Ponzi schemes, and MLM pyramids in recent years. Just a few months ago, HYIP’s seemed to be the “next big thing” in terms of dodgy Bitcoin schemes, but it looks like a certain altcoin is trying the old MLM game once again. OneCoin claims to be a bit of everything, while, in fact, they seem to be selling nothing but hot air. For those among us who have been using the internet for quite some time now, the saying “If it sounds too good to be true, it usually is” has been applicable on more than one occasion. In....
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This particular Ponzi Scheme in Vietnam will give Bitcoin a bad reputation in the country. Cryptocurrency is not regulated by the banks, and the local government is not too keen on Bitcoin either. Ever since the inception of Bitcoin, there have been individuals and companies trying to discredit cryptocurrency. Some of them even go as far as setting up deliberate Ponzi Schemes to defraud Bitcoin investors. Such a scheme seems to be on the brink of collapse in Vietnam. Hundreds of people have been burned by this pyramid scheme, which seemed to rely on an MLM structure. It is not the first....
A movie is being made about Onecoin’s cryptocurrency Ponzi scheme starring Oscar winner Kate Winslet. This Hollywood MGM movie is based on a true story told by a victim of the cryptocurrency fraud scheme. Onecoin Movie Starring Kate Winslet Oscar-winner Kate Winslet will be starring in an upcoming movie about the cryptocurrency Ponzi scheme Onecoin, according to Deadline publication which specializes in entertainment and Hollywood news. The movie is called “Fake!” and it is based on the book by Jen McAdam and Douglas Thompson which tells the true-life story of....
Indian authorities are engaging in a sweeping crackdown on OneCoin, a digital investment scheme that is commonly seen as a scam. On Sunday, Indian police in the city of Mumba arrested 18 individuals associated with the fraudulent scheme. According to The Hindu, the 18 individuals were conducting a OneCoin seminar over the weekend. The event, which saw at least 500 participants, was also attended by undercover police who witnessed the entire presentation that promised significant returns on the purchase of a single OneCoin for ₹11,900 (approx. $185). A report by Times of India reveals that....
OneCoin has developed a sketchy reputation, and now bitcoin evangelist Roger Ver is adding to the mix. In a recent interview, the owner of Bitcoin.com says he believes OneCoin is a fraud, and that investors should always be wary of new coins and read up before they put their money in things they don’t understand: “There is never a cryptocurrency without a wallet. This sounds like more evidence of its fraudulent nature. OneCoin isn’t traded on a single exchange anywhere in the world as far as I know.” OneCoin has been around for over two years, but questions surrounding its authenticity....
On October 1, OneCoin, a self-declared cryptocurrency and trading venture based out of Bulgaria, has announced at a conference in Bangkok, Thailand that it switches to the “new Blockchain”, “transferring coins” from the old one to the new one. OneCoin has been in focus of Cointelegraph for some time. Recently the authorities of the UK and Sweden has warned investors that OneCoin is suspected to be a pyramid scheme with no verifiable evidence to back up any of its business claims. According to Tim Tayshun, CEO of Ezcoin, OneCoin is pure fraud and deception. He gave Cointelegraph his version....