Scammer OneCoin releases new blockchain with 5 times higher capacity

Scammer OneCoin releases new blockchain with 5 times higher capacity

- in All News, Cryptocurrencies
onecoin

Digital currency OneCoin, which has made its way to the black lists of a number of authorities, has launched a new, enhanced blockchain and with a mining capacity of 50,000 coins per block, or five times that of the previously used blockchain, the company said earlier this month. The new blockchain will run each minute (as opposed to every 10 minutes as was with the old one) and its overall capacity stands at 120 billion coins in total.

With the introduction of the newly-launched blockchain, OneCoin will become “the first cryptocurrency company to store know-your-customer (KYC) documents on its blockchain thus preventing anonymity of transactions and any possible attempts to use OneCoins as a means for criminal activity”.

The move is part of the company’s master plan for becoming the world’s leading cryptocurrency, both in terms of users and market capitalization.

“By doubling the coins, we will be able to bring the coin to more people and places and strengthen the brand,” said OneCoin founder Ruja Ignatova.  “Also, doubling the coins will allow us to start including merchants to use the coin – which will take us into a new league of cryptocurrency – becoming the first-choice cryptocurrency for merchants. These developments are extremely exciting and will make our coin the global leader in the cryptic market,” she added.

In the press release, OneCoin announced that it has “a responsibility to show the right direction and comply with the regulators”. It does not fall under the regulation of any authority and is in fact blacklisted by many. The UK Financial Conduct Authority (FCA), Belgium’s Financial Services and Markets Authority (FSMA), Latvia’s Financial and Capital Market Commission (FCMC), the Hungarian National Bank, and the Swedish Gambling Authority have all issued notices against OneCoin  to warn investors it might represent a ponzy scheme where many investors have lost their money.

Even the Financial Supervision Commission (FSC) of Bulgaria, from where originates Ignatova, OneCoin’s CEO, has issued a warning against the company, saying that its operations and services are not regulated under any European jurisdiction.

Launched in 20014, OneCoin claims to be the world’s second largest cryptocurrency with a customer base in 195 countries across six continents. It has a sub-service called OneForex that represents a marketplace for currency traders, where they can trade OneCoins against majors.

5 Comments

  1. So, as the Ponzi ‘Onecoin’ hits a wall, they devalue the coin by ‘mining’ at 5x the rate. All the current holders of this bag of shite, will now have an even bigger bag of even more worthless shite.

    We told you so.

    1. The Ponzi coins were previously fake “mined” at a rate of 10,000 every ten minutes, or 1.44MM alleged coins a day, with a cap of 2.1 billion coins, up until Sept. 30th of this year. On October 1st, the new FAKE blockchain, which is actually just a looping Shitterstock video, mined 1.9 billion coins in less than 100 seconds, for an instant “value creation of $13.3 Billion and began producing (not in reality, mind you) 50,000 coins a minute, for a daily mint of 72,000,000 coins – nearly 3 1/2 x the amount bitcoin will mint before the year 2140. For clarification, Onecoin are not traded on ANY open market and the invented internal FAKE coin value is set at around $7.00 per coin, translating to a 24 hour shift from $10MM daily yield to a very realistic $504,000,000 daily (ie., a billion bucks every 2 days), which began October 1st. Not bad, eh?

      To compound the obvious scam which plays magic with all known Universal Laws of Economics, on October 1st the “blockchain” doubled everyone’s coins. A week later the company announced a new “SuperSplit,” which quadruples victims “Tokens” which are exchanged for Onecoins, created on Excel Spreadsheets. So, as an example, 700 tokens can be EXCHANGED (there is no mining, whatsoever) for 10 line items on the Onecoin Excel Spreadsheets, which they refer to as “cryptocurrency” (ie., you get 10 Onecoin for 700 tokens). A “super Split” would give you 2,800 Tokens, which can be exchanged for 40 ponzi coins.

      Additionally, within 10 days of the “New Blockchain Event” in Bangkok on Oct. 1st, Onecoin introduced a New package called “The Ultimate Package,” Wherein a small investment of just 188,000 Euro will give you about 2 million Onecoins worth approximately 14,000,000 Euro, for a nice 1,400% instant ROI (although the coins are locked for 2 years in a high interest paying “CoinSafe” paying 13% interest). It is unclear whether interest is paid in fiat or coins. If coins, no one can describe where these coins come from so far…

      Despite a coin “doubling” event, a “Super Split,” and a 188,000 EURO package to add to the already unbelievable and recent 118,500 Euro package – by far the largest in MLM history; less than another week later, Onecoin announced the (something better than “Ultimate,” Infinity,” whatever) “Supreme Package,” weighing in at the unbelievable value of 225,500 EURO.

      ….need I say more?

  2. PECIACK GREGOIRE

    en francais : TOUS CEUX QUI ONT INVESTI DANS LE ONECOIN ONT TOUS PERDU LES SEULS COUPABLES SONT LE DR IGNATOVA ET SES SBIRES AU SERVICE DU DIABLE.

  3. PECIACK GREGOIRE

    666 dr ruja ignatova Poors players Keep alive

  4. To put (my previous comment) into perfect context, please view this short 1:20 sec video clip, and make no mistake that she is identifying the looping video as Onecoin’s new “blockchain!”

    “So the block is supposed to mine one minute.” … “This first block is very special, guys. It is called the *Gu-ness-iss (sic) block. And all your doubled coins are mined right now! So this is probably the most important block we will mine ever.”

    “And now it starts blinking! I think it’s done soon. I think we’re mining about two billion coins now.”

    “….Now 3 seconds …Go! Go! Go! MINE! …. It’s a slow one, a lot of coins to be mined …….YES, WE DID IT! We mined 1 point 9-8-6 580,000 coins guys! All of the Ultimate Packages and all of you now should have double coins. Congratulations! [applause…] A big applause also for the Sofia Team who made it happen. Thank you guys. Amazing.” – Ruja Ignatova (AKA: the “Crypto Queen”)
    ____________________________________________________________
    This should make it absolutely clear that Onecoin’s alleged blockchain IS A FARCE!

    For comparisson of what the “big reveal” on-stage showed and what in reality IS their “blockchain,” see this shutterstock looping video and compare the two side-by-side

    These pieces and the article formerly mentioned will put it all in context.

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