OneCoin Isn’t Blockchain Based and Uses SQL for Coins, Says Skeptic
Bjorn Bjercke, a cryptocurrency enthusiast and blockchain developer, recently revealed that when OneCoin approached him in an effort to recruit him as Chief Technology Officer (with a supposed pay of $2.5M per year), OneCoin had no blockchain at all. The murky altcoin which has mostly become known as a serious scam has no public-facing blockchain nor software wallets that users can access offline. Its current iteration is much more like a Federal Reserve style system where all trust must be placed in the issuer. And according to Bjercke, who could not talk to us for this article due to his....
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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....
Bruce Fenton, founder of Bitcoin Foundation, adds his voice to the ubiquitous claims that OneCoin is a Ponzi scheme and its perpetrators should be arrested. In an interview given to Cointelegraph he explains why. Allegations of scam have reached its fever pitch after OneCoin claimed to have successfully launched and transferred old coins to a new Blockchain at an event in Bangkok. It appears the company’s claims are unsubstantiated. Cointelegraph spoke with Bruce Fenton about the situation: Cointelegraph: A couple of days ago OneCoin claimed to have successfully switched on their new....
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....
For now, these claims have not been proven, and should be ignored for the time being. OneCoin is not a cryptocurrency, and anyone claiming otherwise is one of their paid shills. The OneCoin saga seems to be far from over right now. One thing has to be said”: the team behind this project will stoop to new lows to keep up the illusion of credibility. In a recent Youtube video, the team claims Semper Fortis is verifying OneCoin as a cryptocurrency. These claims are false, and OneCoin remains a bag of hot air. For those who are unaware, the OneCoin program is nothing more than a blatant Ponzi....
Recently, Bitcoin.com ran an exposé on the OneCoin “cryptocurrency” project, calling out its smoke and mirrors operation. Afterwards, we got a lot of responses from the scam’s victims, and even commentary from OneCoin leaders themselves. Now, more information has been revealed on how shady this business is, and how it continues to prey on the....