The Ponzi Scheme world has another ‘maverick’ in its midst- OneCoin, a pseudo cryptocurrency mining Ponzi scheme that claims to rival Bitcoin.
Since Bitcoin became very popular, there are series of real and scam cryptocurrencies parading themselves as alternatives to traditional currencies and Bitcoin itself.
OneCoin is owned by a woman who refers herself to Dr. Ruja Ignatova. She claimed to have worked in most of the big blue chips in private equity, corporate finance and investment banking. From KKR, TPG to McKinsey, her intimidating resume is been used to bamboozle her members who see her as an authority in cryptocurrency and investment.
Apart from its smart marketing tactics, OneCoin seems to be getting all the popularity because of its false benefits that it purportedly offers better mining advantage to Bitcoin.
OneCoin is just a Ponzi Scheme similar to Sergei Mavrodi’s MMM Global. Members have to be referred by other members into a Ponzi system through the One Life Network.
The whole system is exposed to what it is once you discover that members just purchase tokens with actual currencies and they watch their tokens grow which can be exchanged for OneCoin. This means OneCoin members do not necessarily mine their own Bitcoin but they are helped by the company to mine through a supposed mining server, IT infrastructure and software that takes all the problems from its members.
OneCoin affiliates or members are required to join the Scheme via the One Life Network. They are required to purchase packages for several Euros which entitle them to educational materials about OneCoin and tokens that they can use in mining the Ponzi cryptocurrency.
As at the last time we checked, OneCoin claimed to have over 2.6 million members.
To catch new members, OneCoin starts with ‘Rookie Package’:
Rookie is a free package that includes information about our integrated virtual ecosystem and how it can be used for personal advancement. It comes with a complimentary e-book by George S. Clason, titled “The Richest Man in Babylon”. When you register for this package you will be automatically subscribed to our newsletter and kept up-to-date with all things in OneLife. The Rookie package allows members to generate promotional tokens and bonuses from the Network’s rewards plan.
You will notice that there is no benefit to the ‘rookie’ but a worthless book written by a faceless author. Rookie members will have to join the Ponzi system to get into the system.
The starter package will cost you EUR110. The only benefits to a starter member are just some OneCoin education mumbo-jumbo that is aimed to brainwash its members to believe they are in a cryptocurrency network and they are miseducated about what it is and how to mine one.
For those who have no previous financial experience. Includes Level 1 of OneAcademy’s e-learning program. Students will learn basic financial literacy and be introduced to financial products and trading. After completing this module, we issue certification for access to OneExchange. The starter membership gives 1000 promotional tokens which can be put into cryptocurrency mining and generates 110 BV points for network bonuses.
After paying EUR110, you are now left with a Ponzi token that you will need to bring in new members so that you can pass the buck and continue the fraud.
Other packages are:
Members will cough out EUR550 each.
Includes OneAcademy Levels 1 and 2. Learn the foundations of financial theory and how to trade with assets. Members will be introduced to asset management, cryptocurrency, and its relation to gold. The trader package gives 5000 promotional tokens which can be put into cryptocurrency mining and generates 550 BV points for network bonuses.
PRO TRADER PACKAGE
This Ponzi package goes for EUR1,100
Includes Levels 1, 2 and 3 of the OneAcademy e-learning program. After completing those modules, members will understand how to earn a profit with cryptocurrency and be able to do basic mining and trading. The pro trader membership gives 10 000 promotional tokens which can be put into cryptocurrency mining and generates 1100 BV points for network bonuses.
EXECUTIVE TRADER PACKAGE
This is sold for EUR 3,300
Includes Levels 1 to 4 of the OneAcademy e-learning program. This package introduces the tools required for sustainably managing your finances and can significantly improve trading performance. The executive membership gives 30 000 promotional tokens which can be put into cryptocurrency mining and generates 3300 BV points for network bonuses.
TYCOON TRADER PACKAGE
Another mumbo-jumbo training is sold to members for EUR5,500
One of our most advanced educational packages, Tycoon Trader includes 5 levels of OneAcademy. It features an overview of trader psychology, along with practice materials and video presentations. This package also includes extended member rights in the OneCoin digital ecosystem. The tycoon membership gives 60 000 promotional tokens which can be put into cryptocurrency mining and generates 5500 BV points for network bonuses.
TYCOON PLUS TRADER PACKAGE
A member will have to pay EUR7,500 to get this fake package
An upgrade to one of our most sought-after educational packages contains just the right amount of interactive education packed in 5 OneAcademy modules and extensive video materials to keep the balance between learning and trading practice. Tycoon + traders are provided with 81 818 promotional tokens which are directly set to auto-mining feature and optimize the trading experience. This package contributes with 7 500 BV points for network bonuses.
PREMIUM TRADER PACKAGE
OneCoin charges its members EUR13,750 for this Ponzi position.
Recommended for those interested in reaching a high level of proficiency in asset management and trading. Includes all 6 educational levels, along with extended strategies for crypotcurrency miners.The premium membership gives 150 000 promotional tokens which can be put into cryptocurrency mining and generates 13 750 BV points for network bonuses.
INFINITY TRADER PACKAGE
Infinity Trader offers exclusive features to help traders optimize their efforts and gain substantial trading skills. With this package, members get full access to all 6 OneAcademy levels and the special 7th module for people who seek to upgrade their skills and knowledge to a master level. The infinity membership gives 300 000 promotional tokens which can be put into cryptocurrency mining and generates 27 500 BV points for network bonuses.
In one of her baseless webinar, Dr. Ruja was asked why the OneCoin algorithm cannot be accessed just like any cryptocurrency, she said ‘you cannot see our algorithm. If we publish the algorithm of OneCoin today, this will be very bad for us because everybody will join the mining and they are not part of the network and they have not bought any package. You can only see the Blockchain which is audited’
That right there is the secret, OneCoin is a fraud and there is no mining of any cryptocurrency going on but a Ponzi scheme that is defrauding its members and will continue to require new members who have to buy Ponzi tokens thinking they are using it to buy a real cryptocurrency called OneCoin.
The whole things gets similar to MMM when you get to discover that its difficulty is measured in coins are measured in tokens, the company use it to measure the difficulty. The fact that it does not use ALTCOIN like Bitcoin is a red flag. Dr. Ruja and her cartel operating the OneCoin Ponzi Scheme are the one who understands what they are doing.