Digital asset investors should be aware of the OneCoin scam that has plagued the crypto industry for some time is still somehow active with new investors depositing funds with the company in anticipation of its growth and returns.
The scam has been chronicled by many industry news sources, even mainstream ones like the BBC, who published a podcast regarding the situation. Nonetheless, it looks like the project has a dedicated group of followers who have invested and are reluctant to cut ties with the project.
Our partners, Cointelligence have collected some relevant facts to prove to the public that OneCoin is a possible scam. Investors should ask such questions of their digital asset provider as well in order to make sure they are dealing with a reputable and honest company.
Some of the information found by Cointelligence:
1) OneCoin has no verifiable Blockchain.
2) OneCoins do not exist outside of the OneCoin universe.
3) They are not publicly exchangeable, either to fiat or other crypto.
4) The Dealshaker platform is questionable – items are either sold at inflated prices as a combination of fiat currency and OneCoin, or are available for 100% OneCoin, but at prices that are stupendously high.
6) The CEO is MIA with no explanation from anyone as to why.
7) Her brother, who took over the running of the business, is currently languishing in a New York jail on wire fraud and money laundering charges and his sister has been charged with the same in absentia.
8) Despite having hired Carter Ruck as their libel attack dogs, OneCoin have never taken anyone to court for libel.
9) For something to have a real value, it must be market tested with real people buying it. OneCoin’s promise of a public listing has been “coming soon” for years now.