Beware Of the Onecoin MLM Doing The Rounds Currently

niftyone

The FCA have issued a recent warning about Onecoin a virtual currency mlm and say its now under investigation by the City Of London Police.

See: https://www.fca.org.uk/news/news-stories/beware-trading-virtual-currencies-onecoin

paddyrg

Hadn't heard of it, quick dig suggests it's based in Dubai. Regulation is, let's say, not quite as rigorous as London.

OneCoin is not an ALTCOIN – this means we do NOT use the Bitcoin algorithm with small changes. We decided to use a custom made solution, which has elements of script and x11.

So it's not mathematically verified by the open community.

niftyone

They are recruiting in UK for investment elsewhere

http://behindmlm.com/companies/onecoin/onecoin-under-police-investigation-in-the-uk/


Also see this info on them. http://behindmlm.com/companies/onecoin/onecoin-declared-just-3-8-million-in-revenue-last-year/

niftyone

Article on this in todays Daily Mirror.

See http://www.mirror.co.uk/news/uk-news/seven-months-after-expose-crypto-8933566

niftyone

Its now been banned in Italy .

http://behindmlm.com/companies/onecoin/onecoin-banned-in-italy-deemed-a-pyramid-scheme/

niftyone

Now banned in Germany.

http://behindmlm.com/companies/onecoin/onecoin-try-to-extort-german-cryptocurrency-blogger/#comment-381195

Arrests in India http://www.thehindu.com/news/cities/mumbai/police-custody-for-one-coin-scam-accused/article18315481.ece