ONECOIN is one of the largest MLM Ponzi schemes in the cryptocurrency scene according to FinTelegram´s research. The company has now announced an Initial Coin Offering (ICO). Fintelegram warns strongly against investing in this coin.
A few weeks ago, Onecoin announced that it would not do the Initial Public Offering (IPO) planned for October 2018. As an alternative, an Initial Coin Offering (ICO) may have been worked on in the background for a year. But now the rumours are obviously to become reality.
Unfortunately or thank God the website www.onecoinico.io is not available for IP addresses from Europe and the USA. However, the video for the announcement has already received 37,600 views within a few days, which gives an idea of the dimensions of this pyramid selling system.
Last week the details became known: From 8 October to 7 January 2019, ECR-20 OFC tokens can be purchased for 0.02 to 0.06 Euro. In April 2019 the company will release 30% of the invested tokens, the final amounts will be transferred in October 2019. Why the pre-generated ECR-20 OFC tokens are not transferred until long after receipt of the purchase price is not explained. Since legal requirements have not interested OneCoin to date, tax regulations – the only argument we can think of for a delayed transfer of the tokens – should not play a role.
On the OneCoin website some crypto currency exchanges are already mentioned, which will have the doubtful honour to be allowed to list the OFC token and thus finally make the exit from the pyramid selling system possible for the many OneCoin investors.
In any case, Kraken has already declined with thanks.
Thank you, Kraken! https://t.co/KwXbSys5UK
— Alexis Aiono 🦙 (@AlexisAiono) August 27, 2018
Obviously, OneCoin appreciates good German quality work: they have allegedly hired German companies with the implementation of their ICO (establishment of the smart contract) myicoagency.de and ICODA.
How large the selling power of this OneCoin system is, show the frighteningly high number of views reached within few days on the YouTube channel (like this and like that one) for ICO videos only released a few days ago.
To be continued, soon..
Kill it with fire!
Onecoin had already been eradicated from most of the civilized western world. Presently they continue their reign of terror, to financially rape, pillage and plunder native victims in the poorest countries on earth. Argentina, Venezuela, Columbia, Trinidad & Tobago, as well as many countries in Africa and the island chains throughout Asia. Poland and Russia are also under attack by these criminals. Lack of education, unfamiliarity with new technologies and often a language barrier which inhibits access to well known international news about the biggest ponzi scam in #KleptoCurrency history ….coupled with obnoxiously blatant lies and outright fraudulent marketing by the scam company is going to cause massive devastation when this shit show finally implodes upon itself.
WE AS AN INDUSTRY AND COMMUNITY NEED TO TAKE THESE SCAMS, AND PARTICULARLY THIS ONE, EASY MORE SERIOUSLY!!!
Crypto ponzi schemes and pyramid scams shave gotten absolutely out of control over the past 18months and this is destroying the industry’s reputation amongst the media and general public. And its already causing hyper regulation all around the world. We NEED to SERIOUSLY mount a constant and aggressive campaign against Onecoin and whatever the next BitConnect, Paycoin, or other blatant scam comes next, by consistently exposing, ridiculing and shaming ANYONE promoting these.
Hi Tim, AGREED! This is the exact reason why we set up FinTelegram! Any support is appreciated.
“frighteningly high number” ? Both videos do have ~6000 views in 2 weeks, are you ironic ?