OneCoin: The Biggest Scam Crypto Scam Ever?

[dkbit98]

Question regarding this OneCoin scam:
- Do owners have some known Bitcoin or other crypto addresses they used?

[tmfp]

Question regarding this OneCoin scam:
- Do owners have some known Bitcoin or other crypto addresses they used?

As you can see from the money laundering case going on, the hi up scammers were only interested in fiat and hiding it; I don't think they even understood real crypto and don't seem to have thought of using it to launder their proceeds. Quite ironic really....
So I say no, but I'll check and see what I can find.
I say no also because the vast majority of Onecoin victims were crypto illiterate, seduced into parting with their fiat money by hi pressure MLM salesmanship and FOMO, as crypto was sold to them as the "new opportunity."
We're talking about the man in the street and his relatives and friends being ripped off here, trusting advice from people who they shouldn't have and handing over hard earned cash.
Buying the dream.....

[TMAN]

I remember walking past the shop and laughing at the shitshow.. feel bad for the losers here

If you mean the losers here as in in Bulgaria, Onecoin seems to have not promoted itself there harldy at all, probably on the basis that you don't shit on your own doorstep.

that's a shit ton of new money that missed crypto as a whole

but if you mean here as in the whole shitfest, yeah I agree, especially as it's gone on for so long worldwide.

I meant as a whole. And it was promoted plenty in BG, but there is a long history of Ponzi schemes in Bg

[tmfp]

Scott has just been found guilty on both counts, money laundering and wire fraud.
The DA want to bang him up straight away, pending sentencing, as a flee risk.

We learned last night Mark Scott has tried to sell a third Porsche that is subject to a seizure order. He's part of a network of co-conspirators one of whom has completed disappeared.

Thanks to https://twitter.com/innercitypress/status/1197589713315663872 for the live updates.

[electronicash]

Question regarding this OneCoin scam:
- Do owners have some known Bitcoin or other crypto addresses they used?

As you can see from the money laundering case going on, the hi up scammers were only interested in fiat and hiding it; I don't think they even understood real crypto and don't seem to have thought of using it to launder their proceeds. Quite ironic really....
So I say no, but I'll check and see what I can find.
I say no also because the vast majority of Onecoin victims were crypto illiterate, seduced into parting with their fiat money by hi pressure MLM salesmanship and FOMO, as crypto was sold to them as the "new opportunity."
We're talking about the man in the street and his relatives and friends being ripped off here, trusting advice from people who they shouldn't have and handing over hard earned cash.
Buying the dream.....

which I also doubt there are users out there that invested to it. unless they are also one of those crypto illiterate.

this type of scam have been around for years yet people still are sending money to them. most of the victims are usually those who thought facebook is the internet. most of the time these scammers are found in facebook. none of the literate also advice them because mots of the time the knowledgeable ones in crypto are not in facebook. 

[suchmoon]

~

So let me get this straight. Dude gets caught for money laundering. Then tries to sell a Porsche for "day to day expense". Wasn't a very good launderer, was he? If he didn't have even a few grand stashed somewhere. So here's some hope that he left a truckload of breadcrumbs.

[tmfp]

~

So let me get this straight. Dude gets caught for money laundering. Then tries to sell a Porsche for "day to day expense". Wasn't a very good launderer, was he? If he didn't have even a few grand stashed somewhere. So here's some hope that he left a truckload of breadcrumbs.

He was smug, thought he was untouchable until the Feds turned up and froze everything.
Well, nearly everything....

How was he able to maintain his lifestyle after the arrest... who was spending 100,000$ a month on credit card?

He got away without going down till sentencing. Wears an ankle bracelet, only allowed to live in one home lol.

Oh and

...His lawyer.. says Scott's mother has terminal cancer.

[tmfp]

Question regarding this OneCoin scam:
- Do owners have some known Bitcoin or other crypto addresses they used?

Here's one from a 2016 YT vid about how to buy Gift Codes



Received over 2000BTC, still being used.


The money laundering fallout continues, based on Konstantin's testimony that

“Amer Abdulaziz, after he stole €100m from OneCoin, he started buying racehorses for, like, €25m. [He was] one of the main money-launderers for Ruja.”

AA has been very hi profile in the thoroughbred horse breeding/racing business and the Racing Post makes a fair summary of things

Dubai-based Abdulaziz, 56, launched Phoenix Thoroughbreds in 2017 as the “world’s first regulated thoroughbred fund” and has since become one of the most high-profile figures in international racing and bloodstock, often flexing the significant financial muscle of his fund at the sales and through private purchases.

Abdulaziz has never disclosed who his investors are – citing a desire to protect his client base – other than to say they are “non-racing people”.  

Apart from Konstantin's testimony, the convicted Mark Scott also referred to Phoenix's money laundering role in his very ill advised post arrest "interview" with the Feds.

the first agreement at the
behest of the investors is called Phoenix something Investment
Fund, I think just Phoenix. And then, umm, and I have the name of
the guy that I dealt with, that I was directed to in my emails and
what. I’m going to say, Amar [phonetic] something

Scott: We paid back about umm, to Phoenix was about 190 I would say.
Somewhere around there.
7:45:11 Agent Eckel And you said the 290 million went in. What happened to the other
100 million…

Phoenix have tweeted a "categorically deny blahblahblah"


Konstantin actually listed three main money laundering names in relation to Gilbert Armenta (Ruja's squeeze and main man, now turned state's evidence)

Mark Scott, Amer Abdulaziz and Alex Ortega

Alex Ortega? That name rings a bell from Mt Gox's insolvency, when he offered 10% for account balances.
His "Iverson Capital" vehicle is self described as

Special Opportunity Professionals

A fairly common name tho, over 1300 on Linkedin alone. My lawyer says I'm sure it's not him.

[magneto]

It's absolutely crazy the extent that this scam has gone to and how widespread it is. I was talking to a taxi driver one day, and he said that even some of his relatives are sucked into Onecoin thinking that it's some secret path to riches.

It's good to see legal actions being taken against these people. But obviously the scammed proceeds cannot be all recouped.

These ponzis with some element of MLMs, whether Bitconnect, Onecoin, etc. are the most dangerous of them all, because it plays so well on human emotion and greed.

[JollyGood]

I remember walking past the shop and laughing at the shitshow.. feel bad for the losers here

If you mean the losers here as in in Bulgaria, Onecoin seems to have not promoted itself there harldy at all, probably on the basis that you don't shit on your own doorstep.

that's a shit ton of new money that missed crypto as a whole

but if you mean here as in the whole shitfest, yeah I agree, especially as it's gone on for so long worldwide.

The tragedy of the story is that even today some people refuse to accept it is a scam. They have been sucked in to the whole drama and will never see it as a scam until or unless they lose their invest but it will be too late by then

[stompix]

Oh and

...His lawyer.. says Scott's mother has terminal cancer.

I was once drinking with a few friends from work and a guy from Romania who was somehow related to one of my colleagues.
He was talking about how all the things are bad there, road, healthcare, education, etc etc, but he said they have the best doctors in the world in the prison system.  All the people that end up in jail, once they get to though the health checks are discovered to suffer from tens of health problems, is almost incredible how many people who a few weeks ago were dancing at parties have all their organs affected by something.

If you ever have doubts you suffer from something, go there he said! 

About the horse racing....grrr! It seems like they've already got some 300k in prize money in the UK and far more in Australia. They even managed to get two group one winners.
Crap, this is worse than Altior getting beaten a week ago!!!

So let me get this straight. Dude gets caught for money laundering. Then tries to sell a Porsche for "day to day expense". Wasn't a very good launderer, was he? If he didn't have even a few grand stashed somewhere. So here's some hope that he left a truckload of breadcrumbs.

I think he lost the privatekeys to his onecoin wallet....
 

[Fran435]

"Onecoin, a scam? What madness! Onecoin boosts my purchasing power every day! I use my Onecoins to do a lot of shopping on Dealshaker. Restaurants, hotels, wellness, clothing, shoes, cupcakes, etc. . . For Christmas, my gifts, I find Dealshaker and it's good for my finances! Even at the garage, I pay in Onecoins!




 

[Fran435]

One life is amazing! it changed my life; thanks Dr Ruja you're a visionary

[Fran435]

I could never have thought that it would be possible to pay for a car with a digital currency. Thanks to Onecoin and Dealshaker, I found the car I was looking for! Onecoin, it works!

[tmfp]

cupcakes

"Onecoin, a scam? What madness! Onecoin boosts my purchasing power every day! I use my Onecoins to do a lot of shopping on Dealshaker. Restaurants, hotels, wellness, clothing, shoes, cupcakes, etc. . . For Christmas, my gifts, I find Dealshaker and it's good for my finances! Even at the garage, I pay in Onecoins!

One life is amazing! it changed my life; thanks Dr Ruja you're a visionary

I could never have thought that it would be possible to pay for a car with a digital currency. Thanks to Onecoin and Dealshaker, I found the car I was looking for! Onecoin, it works!

Hahaha.
This is a reference to the "DealShaker" merchant platform that Onecoin launched.
It was full of Eastern European used car salesmen who will "preorder" a car for you (that you will never see) for a payment of euros plus some Onestuff, Russian off plan villas and Chinese timeshares.
It's completely broken now that the Onecoin admin have been arrested, but never worked in the first place.
Sorry for your loss Fran. (Not really.)

[JeromeTash]

"Onecoin, a scam? What madness! Onecoin boosts my purchasing power every day! I use my Onecoins to do a lot of shopping on Dealshaker. Restaurants, hotels, wellness, clothing, shoes, cupcakes, etc. . . For Christmas, my gifts, I find Dealshaker and it's good for my finances! Even at the garage, I pay in Onecoins!

^^^ Here comes a brand-new One coin scam shill account. What a stupid move 
You just earned yourself some negative feedback.

[tmfp]

^^^ Here comes a brand-new One coin scam shill account. What a stupid move 
You just earned yourself some negative feedback.

I didn't bother. They've got enough problems. 

[tmfp]

Onecoin, a scam? What madness! Onecoin boosts my purchasing power every day! I use my
Onecoins to do a lot of shopping on Dealshaker. Restaurants, hotels, wellness,
clothing, shoes, cupcakes, etc. . . For Christmas, my gifts, I find them on Dealshaker
and it's good for my finances! Even at the garage, I pay in Onecoins!

Hahaha and sad too.
Keep bumping the scam thread guys

[JollyGood]

Not much to say here except that I added these two sock-puppet accounts to my IGNORE list 

"Onecoin, a scam? What madness! Onecoin boosts my purchasing power every day! I use my Onecoins to do a lot of shopping on Dealshaker. Restaurants, hotels, wellness, clothing, shoes, cupcakes, etc. . . For Christmas, my gifts, I find Dealshaker and it's good for my finances! Even at the garage, I pay in Onecoins!

Onecoin, a scam? What madness! Onecoin boosts my purchasing power every day! I use my
Onecoins to do a lot of shopping on Dealshaker. Restaurants, hotels, wellness,
clothing, shoes, cupcakes, etc. . . For Christmas, my gifts, I find them on Dealshaker
and it's good for my finances! Even at the garage, I pay in Onecoins!

[logfiles]

an article says onecoin is not a scam : https://www.wjsnews.com/crypto/onecoin-is-not-a-scam/

Oooh yeah, genius!!!
Did you also know that water is not wet?
A youtube video here says water is not wet: https://www.youtube.com/watch?v=ugyqOSUlR2A

Have fun