On October 1, OneCoin, a self-declared cryptocurrency and trading venture based out of Bulgaria, has announced at a conference in Bangkok, Thailand that it switches to the “new Blockchain”, “transferring coins” from the old one to the new one.
OneCoin has been in focus of Cointelegraph for some time. Recently the authorities of the UK and Sweden has warned investors that OneCoin is suspected to be a pyramid scheme with no verifiable evidence to back up any of its business claims.
According to Tim Tayshun, CEO of Ezcoin,
OneCoin is pure fraud and deception. He gave Cointelegraph his version of events that took place during the conference when OneCoin had mysteriously doubled the coin of every member.
https://cointelegraph.com/news/keep-money-in-the-game-onecoin-moves-on-to-new-fantasy-blockchainThis scam, like many others, work very well unfortunately. The amount invested by "newbie" investors is simply astonishing. I had some very harsh debates with some friends who asked me why they should not invest in what they believe it was the investing plan of a lifetime.
That reasoning completely floored me.
