Monday, 24 April 2017

Legal Authorities per Country

Country Name Contact data
General Wikipedia Wiki - Consumer protection
General Worldwide overview (by FTC - Federal Trade Commission) Competition & Consumer Protection Authorities Worldwide
European Union Consumers, Health, Agriculture and Food Executive Agency Contact Page including Contact Form
Email: chafea[@]
Algeria Ministère du Commerce Ministère du Commerce - Contact (French)
Email: info[@]
Argentina Dirección Nacional de Defensa del Consumidor National Directorate of Consumer Defense - Contact page (Spanish)

Email: Consultas[@]
Australia Australian Competition & Consumer Commission Australian Competition & Consumer Commission
Contact the ACCP
ACCP Scamwatch - Contact Us
ACCP Scamwatch - Report a Scam
ACCP Scamwatch - Where to get Help
Austria Sozial Ministerium Ministry of Labour, Social Affairs and Consumer Protection
EMail: post[@]
Arbeiterkammer (Chamber of Labour) Arbeiterkammer - Contact Page (German)
EMail: post[@]
Azerbaijan State Service for Antimonopoly Policy and Consumer Rights' Protection Contact Page
Email: office[@]
Belarus Antimonopoly Committee of the Republic of Belarus Contact Us
Belgium FSMA - Financial Services and Markets Authority FSMA - Contact Us
FSMA - Consumer Contact Form
Email: info-pro[@]
Bolivia Contact Page (Spanish)
Online Claims (Spanish)
Email: minjusticia[@]
Brazil Office of Consumer Protection and Defense, Ministry of Justice DPDC Homepage
Brazil CADE - Administrative Council for Economic Defense CADE - About Us
CADE - Contact Form for Email
Bulgaria Financial Supervision Commission FSC - Contacts
Email: bg_fsc[@]
Cambodia Consumer Protection and Fraud Repression Department Contact Us
Email: ccdg[@]
Cameroon National Competition Committee Input Form for Questions
Canada Competition Bureau Questions and Complaints
Complaint Form
Issues the Bureau deals with (includes Multi-level marketing plans and schemes of pyramid selling)
Facebook @CompetitionBureauCanada
Twitter CompBureau
LinkedIn Competition Bureau Canada
Chile SERNAC - Servicio Nacional del Consumidor Consumer Portal including Claim Input Form (Spanish)
China SAIC - State Administration for Industry & Commerce of the People's Republic of China SAIC - Contact Us
Email: dfa[@]
Colombia Superintendence of Industry and Commerce (Superintendencia de Industria y Comercio) Homepage including Contact Data
Consumer Protection (Spanish)
How to make a Claim (Spanish)
Email: contactenos[@]
Facebook @Superintendenciadeindustriaycomercio - About
Twitter sicsuper
Costa Rica Contact Us Input Form (select Consumer Support Directorate)
Cote d'Ivoire Ministry of Commerce Contact Us (French)
Email: info[@]
Croatia Directorate for Trade and Internal Market Homepage including Contact Data (Croatian)
Central Information System for Consumer Protection - Input Form (Croatian)
Czech Republic Ministry of Industry and Trade Contact Page (Czech)
Email: posta[@]
Facebook @mpocr
Twitter mpo_tweetuje
Denmark Danish Consumer Ombudsman Contact Page
Email: kfst[@]
Danish Competition and Consumer Authority Contact Page
Email: forbrugerombudsmanden[@]
Dominican Republic Pro Consumidor Homepage including Contact Data (Spanish)
Consumer advocacy (Spanish)
Email: info[@]
Ecuador Superintendent for the Control of Market Power Contact Page including Input Form for Questions (Spanish)
Twitter AntiMonopolioEC
Egypt Egyptian Consumer Protection Agency Feedback Form
Estonia Estonian Competition Authority Contact Page
Email: info[@]
Finland National Bureau of Investigation National Bureau of Investigation - Contact Information
Email: kirjaamo.keskusrikospoliisi[@]
France Direction Générale de la Concurrence, de la Consommation et de la Répression des Fraudes DF CCRF - Contact (French)
Twitter DG CCRF
Twitter Ministère de Bercy
Georgia Competition Agency Contact Page including Input Form
Email: info-gca[@]
Germany Bundesministerium der Justiz und für Verbraucherschutz Federal Ministry of Justice Consumer Protection - Contact
Email: poststelle[@]
BaFin - Bundesanstalt für Finanzdienstleistungsaufsicht Contact Us
Contact Form for email
Email: poststelle[@]
Ghana Ministry of Trade and Industry
Gibraltar HM Government of Gibraltar Consumer Protection - Contact Page
Email: oft[@]
Greece General Secretariat of Consumer Affairs Contact Page (Greek)
Email: 1520[@]
Guatemala Dirección de Atención y Asistencia al Consumidor Consumer Protection (Spanish)

Email: comunicacionsocial[@]
Hong Kong Consumer Council Contact Us
How to Complain
Consumer Complaint Form
Email: cc[@]
Hungary Hungary Central Bank Hungary Central Bank - Contact Us
Email: info[@]
India Department of Consumer Affairs Contact Us
Email: secy-ca[@]
Facebook @ConsumerAdvocacy
Twitter consaff
Competition Commission of India CCI - Contact Us
Indonesia Asean Committee on Consumer Protection Indonesia Customer Complaint Form
Ireland The Competition and Consumer Protection Commission Contact Us
Report a business to the Competition and Consumer Protection Commission
Contact Form for Complaint about Product or Service
Israel Israel Consumer Council Contact Us including Complaint Form
Italy Autorità Garante della Concorrenza e del Mercato AGCM - Contact Us
Email: protocollo.agcm[@]
Jamaica Fair Trading Commission Contact Page
Email: ftc[@]
Japan Consumer Affairs Agency, Government of Japan Homepage including Contact data (English)
Kazakhstan Agency for Competition Protection
Kenya Competition Authority of Kenya Facebook Competition Authority of Kenya
Email: info[@]
Kyrgyzstan - Kyrgyz Republic State Commission for Antimonopoly Policy State Commission for Antimonopoly Policy - Homepage and Contact (Kyrgyz, Russian)
Email: priemnaya[@]
Latvia Consumer Rights Protection Center (Patērētāju tiesību aizsardzības centrs) Consumer Rights Protection Center - Complaint page (Latvian)
E-mail: ptac[@]
Financial and Capital Market Commission Financial and Capital Market Commission
E-mail: fktk[@]
Macedonia Commission for Protection of Competition About Us - Contact
Email: kzk[@]
Malawi Competition and Fair Trading Commission Contact Us
Email: competitioncommission[@]
Malaysia MyCC - Malaysia Competition Commission Contact Us
Email: enquiries[@]
Mexico Federal Consumer Protection Office Contact information - Form (Spanish)
Moldova National Agency for the Protection of Competition Contact Us
Email: office[@]
Mongolia Authority for Fair Competition and Consumer Protection Contact Us (partly in English)
Email: contact[@]
Morocco Competition Council Contact Page (French)
Email: contact[@]
Netherlands Authority for Consumers and Markets ACM - Contact
ACM - Tip off
Submit tip-offs anonymously
Submitting your tip-off or indication to ACM
New Zealand Consumer Protection Consumer Protection - Contact Us
Email: cpinfo[@]
Community Law Centres Community Law Centres - Free legal help
Norway Norwegian Gaming and Foundation Authority (Lotteri- og Stiftelsestilsynet) Norwegian Gaming Authority - Contact Us
Email: postmottak[@]
Twitter lottstift
Pakistan SECP - Securities and Exchange Commission of Pakistan SECP Contact Page - Head Office
Email: complaints[@]
Twitter SECPPakistan
Panama Authority for Consumer Protection and Competition Defense Homepage including Contact Data (Spanish)
Complaint Form (Spanish)
Email: info[@]
Peru INDECOPI - National Institute for the Defense of Competition and the Protection of Intellectual Property Contact Input Form (Spanish)
Email: consultas[@]
Philippines DTI - Department of Trade and Industry DTI - Consumer Protection Group - Contact Us
Email: cpg[@]
Poland Office of Competition and Consumer Protection Contact Us
Email: uokik[@]
Portugal Direção-Geral Consumidor Porto del Consumidor - Homepage (Portuguese) Click Contactos
Email: dgc[@]
Romania National Authority for Consumer Protection Contact Us
Email: office[@]
Russia Federal Service on Customers' Rights Contact Page
Email: depart[@]
Serbia Commission for Protection of Competition
Email: office.kzk[@]
Singapore Competition Commission Contact Us
Email: ccs_feedback[@]
Slovenia Competition Protection Office Homepage including Contact Data
Email: gp.avk[@]
South Africa NCC - National Consumer Commission Contact Page
Email: complaints[@]
South Korea KFTC - Korea Fair Trade Commission Contact Us
Email: kftc[@]
Spain National Institute of Consumers Contact the Agency (Spanish)
Twitter sanidadgob - Min. Sanidad (MSSSI)
Sweden LotteriInspektionen LotteriInspektionen - Contact Us
Email: registrator[@]
Switzerland FCAB - Federal Consumer Affairs Bureau FCAB - Contact
Email: konsum[@]
Taiwan Consumer Protection Committee, Executive Yuan Contact Us
Tanzania Fair Competition Commission Contact Us
Email: info[@]
Thailand Office of the Consumer Protection Board OCPB - Contact Us
Email: consumer[@]
Trinidad & Tobago Fair Trading Commission Homepage including Contact Data
Email: info[@]
Tunisia Ministry of Commerce Contact Page (French)
Email: mcmr[@]
Turkey Turkish Competition Authority About Us (Turkish)
Uganda Government of Uganda Contact Input Form
Ukraine State Committee of Ukraine for Technical Regulation and Consumer Policy
United Kingdom FCA - Financial Conduct Authority FCA - Contact us
FCA - Report a Scam
United States of America FTC - Federal Trade Commission Contact the Federal Trade Commission
FTC Complaint Assistant
Venezuela Superintendence for the Promotion and Protection of Free Competition (Pro-Competencia) Contact Page
Vietnam Vietnam Competition Authority Contact Us
Email: ccid[@]

Sunday, 9 April 2017

Overview of OneCoin / OneLife Bank Accounts

The list of bank accounts used by the OneCoin / OneLife network is sorted on Start Date.
Start Dates and End Dates are indications of the period during which the accounts were used. This info is based on various sources, mainly OneCoin/OneLife Newsletters, Facebook accounts and Internet forums.

All IBAN Account Numbers have been checked on validity via
NB: this doet not mean that an account still exists, but that the format, structure and length are correct and that the Checksum (the two digits on position 3 and 4) is valid.

BankAccount Holder (Beneficiary) / Account NumberStart DateEnd Date
DSK Bank
Bank address: 6 Slavyanska Str., Sofia, Bulgaria

Address conform
19 Moskovska Street, 1040, Sofia, Bulgaria
One Network Services Ltd.
Beneficiary address: 12 Tsar Osvoboditel Blvd., Sofia, Bulgaria

Account number: IBAN BG68STSA93000021970918 (EUR)
Jan 2015Oct/Nov 2015
Mashreq Bank Bank
Address: Injaz Building #2, 3rd Floor,
Dubai Outsource Zone, Manama Street, Dubai, United Arab Emirates

Address conform
DUBAI 04, United Arab Emirates
One Coin Ltd.
Account number: IBAN AE550330000019100084477 (EUR)
9 Sep 2015
DMCC BRANCH, DUBAI, United Arab Emirates

Address conform
Account number: IBAN AE410520002410664730049 (EUR)
7 Sep 20157 Nov 2015
Capital Bank or JSC "Capital Bank"
Bank Address: 1 Vertskli str. Tbilisi 0105, Georgia
Tel: +995 32 2428888

Address conform

One Payments Ltd
Number: IBAN GE35IN0036920002741601
7 Nov 20153 Dec 2015
TD Bank
Bank Address:
1701 E. Sunrise Blvd
Fort Lauderdale, Florida 33304
Beneficiary Address: 110 E. Broward Boulevard, Suite 1900
Fort Lauderdale, Florida 33301

Account number: 4325434431
3 Dec 2015Feb 2016
Kreissparkasse Steinfurt
Bank address: Bachstrasse 14, D-49477 Ibbenbueren, Germany

Address conform

International Marketing Services Pte Ltd or IMS GmbH
Company Address: Joseph Koenig Strasse 33, 48147, Muenster, Germany

Account number: IBAN DE50403510600073756108
8 Dec 201524 Mar 2016
DBS Bank Ltd
Bank Address: 12 Marina Boulevard, DBS Asia Central
International Marketing Services Pte. Ltd
Address: 38 South Beach Road, Singapore

Account number:
0048-005000-01-7 (EUR)
0288-003580-01-5 (USD)
8 Dec 2015Jan/Feb 2016
Lloyds TSB Bank PLC
Bank Address: 22 St Thomas' Square, Newport, Isle of Wight, PO30 1SQ, UK

Address conform
Chelmsford Legg St OSC 1 Legg St, Chelmsford, CM1 1JS, United Kingdom
International Marketing Strategies Limited
Company Address: Dean Court, Blackwater, Newport, Isle of Wight, PO30 3BJ, UK

Account Number: IBAN GB54LOYD30959902316606 (GBP)
28 Jan 2016Apr 2016
Bank of Africa (T) Ltd
Bank Address: NDC Development House, Kivukoni / Ohio Street,
PO Box 3054, Dar es Salaam, Tanzania 
IMS Marketing Tanzania Limited
Address: Plot Number 18,  Rukwa Road, Masaki,  P.O Box 12800  Dar es Salaam, Tanzania

Account number:
01528310014 (EUR)
01528310001 (USD)
28 Jan 201614 Nov 2016
United Overseas Bank Ltd
Bank Address: 80 Raffles Place, UOB Plaza1, Singapore 048624
Bank Number/Code: 7375
Branch Number/Code: 001
International Marketing Services Pte. Ltd.
Address: 38 Beach Road (TMF) #29-11
South Beach Tower
Singapore 189767

Account Number:
3529466674 (USD)
3529466682 (EUR)
7 Mar 20162 Nov 2016
Commerzbank AG
Bank Address: Königsstrasse 39, 48143 Muenster, Germany

Address conform
Muenster, 48136, Germany

Account Number: IBAN DE09400400280393012001
25 Mar 20166 Jun 2016
Deutsche Bank
Bank code: 40070024
Bank Address: Alte Muensterstrasse 1-3, 48268 Greven, Germany

Address conform
Muenster, 48136, Germany
IMS International Marketing Services GmbH
Address: Rathaus Strasse 7, 48268 Greven, Germany

Account Number: IBAN DE20400700240080808901
Account number: 80808901
6 Jun 201619 Aug 2016
Banka Monte Dei Paschi Di Siena
Bank address: Piazza Cavour, 1, Milano, Italy

Address conform

Address: via Annunciata 23/4; Milano; Italy

Account Number: IBAN IT40B0103001661000001476052
20 Sep 201621 Sep 2016
China Construction Bank (Asia) Corporation Limited
Bank Address: 26/F, CCB Centre, 18 Wang Chiu Road, Kowloon Bay, Kowloon, Hong Kong
Bank Number/Code: 009
Branch Number/Code: 678
Foshan Everbright Import & Export Company Limited
Address: FLAT/RM N 12 F Century Industrial Centre 33-35 AU PUI WAN STREET SHATIN, Hong Kong

Account Number: 13836614
5 Oct 201619 Oct 2016
United Overseas Bank Limited
Bank Address: Thomson Branch, 251/253 Upper Thomson Road, Singapore 574376
Bank Number/Code: 7375
Branch Number/Code: 007
Vernada Trading Pte. Ltd
Address: 531A Upper Cross Street #04-95, Hong Lim Complex, Singapore 051531

Account Number: 3149016161
2 Nov 201610 Nov 2016
Hellenic Bank Public Company Ltd.
Bank Address: Athalassa Avenue, 5th floor, 2025 Strovolos 1394 Nicosia, CYPRUS

Address conform
Eastern Project Investments Limited
Address: 16 John Kennedy Avenue 1087 Nicosia Cyprus

Account Number:
IBAN CY50005001400001400169459301 (EUR)
IBAN CY23005001400001400769459301 (USD)
3 Nov 20167 Nov 2016
Banco Sabadell

Address conform
Avda. España, 116, Estepona, MALAGA, 29680, Spain
Address: AV.Espana 146,2
29680 Estepona, Spain

Account Number: IBAN ES4900817462580001642468
Nov 201619 Jan 2017

Address conform
SALAM STREET, ABU DHABI, United Arab Emirates
SAFA Trading Ltd.
P.O. Box 122036, Dubai, U.A.E

Account Number: IBAN AE320030000951318320001

18 Jan 2017
RFC del Banco: bra120104nn5
Bramex Easy, SA DE CV

Account Number: 50030515053
CABLE Interbancaria: 036180500305150531

Business Center Sofia Ivan Vazov
1 Ivan Vazov Str., Sofia 1000, Bulgaria

Address conform
One World Foundation
Beneficiary Address: Tsar Osvoboditel 12 blv

Account Number: IBAN BG59UNCR70001522197504 (EUR)

Saturday, 1 April 2017

Dealshaker facts and deal reviews

Summary of conclusions

  1. The current 23,000 "Registered Businesses" and 8,500 visible deals (including a large number of nonsensical, terminated and sold out deals) are just a drop in the ocean.
  2. By no means does the launch of the Dealshaker platform justify the recent OneCoin 25% price increase from 7.85 to 9.85 EUR. On the contrary, Dealshaker is nothing more than a last straw to give a little bit of value to the coins after the closure of the internal exchange.
  3. There are a number of incredible car deals, fully or largely paid in OneCoins.
  4. Examples:
    • A Chinese car dealer Tianhe Cars allegedly had sold 50 coupons for BMW X6 XDRIVE35I (list Price > 60,000 EUR) and 52 coupons for Mercedes GLS 550 (List Price > 88,000 EUR). For both cars the full price was exactly the same: 12,307.69 ONE (so no payment in euros at all).
    • A Polish merchant currently offers 24 cars (Volkswagen Passat, Mazda 6, Nissan Qashqai among others). For each car type 40 coupons are available, so in total 960 cars. All cars have to be paid in euros plus OneCoins, but the euro parts of the deal price are extremely low.
      Update 4 April 2017: all 24 deals have been deleted.
  5. Many products are overpriced, because the merchant has to pay 25% "Advertising Fee" of the cash i.e. euro value of the deal. Moreover, at least 50% of the deal value must be paid in OneCoins, which cannot be sold because the internal exchange has been closed. Taxes and official product importers cannot be paid in OneCoins.
  6. Since the launch of the platform on 16 February 2017 there has been a relatively large increase in the number of deals. Still the overall number of visible deals is only about 40% of the number of merchants.
  7. A relatively large percentage of merchants are Individual businesses i.e. in most cases regular private persons who already were OneLife IMAs before the launch of the platform.
  8. Deals with prices partly in euros can only be bought with money on the OneLife Cash Account. This severely limits the possibilities, because the only "regular" source of this money is from Bonuses based on the Global Compensation Plan.
  9. A large majority of deals is offered by Chinese merchants.
  10. Example:
    • The > Products > Home Decor > Bedroom section alone contains about 1,100 deals, 90% of which are bedspreads from China.
  11. During the Coin Rush Event on 11 June 2016 in London the following goals were presented:
    - 10 million users
    - 1 million merchants
    - in 2 years.

    10 months are passed since then.
    With much less than 10,000 ACTIVE merchants it looks like the network is far behind schedule.

Weekly statistics from the Launch Date 16 February 2017
NB: the website has been open for registration for merchants and deals from Monday 16 January 2017.

Representative examples of idiocy of OneLife members: IMA Naseem Naqvi (Facebook link)

Lee Oshea about the same BMW 320i deal: IMA Lee Oshea (Facebook link) (mirror on
NB: the hyperlink to this BMW 320i deal became invalid before the start date if this deal, i.e. nobody has been able to buy a coupon for this fake offer.

Selection criteria for deal reviews

  1. Deal prices must be comparable to offers and list prices on merchant's own website, official importers, official manufacturer websites and/or reliable websites like,, and
  2. Only new products, no used/second-hand products (with one exception to show an example of rubbish offered by OneLife members).
  3. Full consumer guarantee where applicable.
  4. Select some deals which are promoted by OneLife IMAs (Independent Marketing Associates).

Overview of Deal Reviews

Deal description & hyperlinkOneCoin Value per coin (EUR)Overall verdictRemarks
Hotel Viktoria, Seefeld, Austria6.76 - 11.21Probably legit and good value for "money" (i.e. OneCoins).It is not possible to book a specific period via Dealshaker, this requires a separate arrangement (very awkward).
We received a quick response to a question asked via email (confirmation that Description text "Price is for 3 nights for 2 persons" is not correct, this should be 7 nights).
BMW X6 XDRIVE35I - China10.16 - 12.60If this deal is real, the buyers never get more value for "money", i.e. OneCoins, but this deal is not credible at all.
If this deal is real, the merchant must be completely insane (or a fraud).
If this merchant would buy a "Power Pack" for 48,780 EUR, he would receive 55 as many OneCoins as he would get by reselling this car, with the same investment.
a. The same merchant also sold 52 coupons for a Mercedes GLS 550 for exactly the same OneCoin price.
b. We asked the merchant some questions by email, but received a meaningless response with zero answers.
Volkswagen Passat Comfortline + Business Package4.65The euro part of the deal price is so low, that deals like this are incredible.
The merchant asserts for instance that 23% VAT is already paid. We asked by email what amount of VAT we would see on the invoice, but did not receive an answer.
On 3 April 2017 the merchant offered 24 deals for new cars, 40 coupons each.

Update 4 April 2017: all 24 deals have been deleted.
Mercedes Benz GLE 320 4MATIC SUV, ChinaNegativeEuro part of deal price is higher than official list price. "Negative" OneCoin value.Much too expensive. Even the euro part of the deal price is higher than the official Mercedes List price in China.
There will not be many OneLife members who have more than 100,000 EUR on their Cash Accounts.
Deals like this one are completely useless.
iPad Mini 4 Wi-Fi 16GB Space Gray - Panama8.22Maybe interesting for some locals in Panama.Products must be redeemed at location in Panama.
Charter a Private JetNegative
(however peanuts)
This is a successful joke.This deal has been available from the start. This is proof that the approval process of merchant and deal failed in this case (although not very important because of the low price).
Projector AM01S for AndroidNegativeMuch too expensive. Even the euro part of the price is higher than on and 3 coupons sold by people who apparently have too much money.
18 Carat Gold ring with Purple DiamondImpossible to calculateThis is a successful joke.Most expensive deal, despite the 1% "discount".
Total deal price: 990,000.00 EUR + 101,538.46 ONE.
This is proof that the approval process of merchant and deal failed in this case.
4 Nights in Wyndham Grand Athens hotel in AthensNegative or 4.46 (maybe more)Dependent on the period for which you book this hotel, the OneCoins can have value. But in a number of cases a reservation via is cheaper (even withouth using OneCoins).It is entirely unclear which room type you will get with the Dealshaker coupon.
Via Dealshaker the months July and August have "Availability limitations" (unclear what this means exactly).
Via Dealshaker it is not possible to book a specific period before you buy the deal. This must be arranged separately, which is very awkward.
Mobile phone, Nokia Silver, with faulty batteryImpossible to calculateA faulty mobile phone for 2.00 EUR and 0.21 ONE, with 99% "discount".
This is an obvious attempt to try out out how Dealshaker works and to make it look like Dealshaker is a succesful platform. 
Must be redeemed at location in Austria.
Probably sold to his neighbour.
Examples of merchants who offer about 200 dealsNABedspreads from China make up more than 10% of the total number of deals.

Deal Review 1 - Hotel Viktoria - Seefeld, Austria
The deal on dealshaker concerns an apartment for 7 nights for 2 persons. No specific period is mentioned.
For a fair comparison we checked the prices for the cheapest and the most expensive week during the 2017 Summer period on the merchant's website and

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR) OneCoin Value
per coin (EUR)
700.00 EUR + 71.79 ONE1185 (April)4856.76 (485 / 71.79)
700.00 EUR + 71.79 ONE1505 (July)80511.21 (805 / 71.79)

Hotel Viktoria, Seefeld, Austria (Dealshaker link)

Merchant website -

Overview of prices in Summer period (see Kat = II, Top 8 -85 m2 in second row)

Booking for period 8 April 2017 till 15 April 2017 (date format mm/dd/yyyy)

Booking for period 8 July 2017 till 15 July 2017 (date format mm/dd/yyyy)

Booking via, same price 1,505 EUR (first row)

Deal Review 2 - BMW X6 XDRIVE35I - China
The car is offered by a Registered Business with the name Shenzhen Tianhe Automobile Trade Co., Ltd.

BMW X6 XDRIVE35I (Dealshaker link) Screenshots with Google Translate:

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR)OneCoin Value
per coin (EUR)
12,307.69 ONEEUR 125,051.30 -
EUR 155,020.02
EUR 125,051.30 -
EUR 155,020.02
10.16 - 12.60

We compared the Dealshaker price with the list price on the official BMW website: Price List BMW X6 Series in CNY Renminibi (RMB).

CNY to EUR conversion:
  • This deal was sold out in a couple of hours (50 coupons).
  • The same merchant also offered a Mercedes GLS 550 (Dealshaker link) which also was sold out (oversold, 50 coupons offered, 52 sold).

We sent an email to the merchant with a couple of questions about the deal, among others:

Your Dealshaker price is 12,307.69 ONE.
I don't know the exact purchase/cost price of a BMW X6 XDRIVE35I in your country, but let's assume it is 50,000 EUR.
In the Shop on you can buy a Power Pack for 48,780 EUR. It combines the Tycoon+, Premium AND Infinity+ Packages, it gives you a total of 531,818 Promotional Tokens and 7 Splits.

NB: You can read more about this offer in the 6 March 2017 Newsletter on

7 Splits means that you can multiply the number of Promotional Tokens by 128, i.e. 128 x 531,818 = 68,072,704 Tokens.

Divide 68,072,704 by the Difficulty Factor (99) and you get 687,603 OneCoins, that is 55 times as many coins as you ask for the BMW!!!
So why are you selling cars if you can get many more OneCoins with the same investment?

10 days later we received this response in which zero questions were answered.

Deal Review 3 - Volkswagen Passat
A Polish merchant with User Name onemillionshop has attracted a lot of attention by OneLife members. At the time of writing (3 April 2017) this merchant offers 24 deals for new cars. The prices are extremely low if we consider the euro part of the deal price.

This merchant is not a car dealer itself and seems to act as a middle man between OneLife members and car dealers. The deal prices, descriptions and conditions raise all kinds of red flags. The car importer and taxes cannot be paid in OneCoins but in fiat money (i.e. Polish Zloty in Poland). The Dealshaker merchant as well as the actual car dealer at least have to cover their expenses. This is not possible with such extremely low euro prices.

3.1 Update 4 April 2017: all 24 deals have been deleted
One day after publishing this article, we observed that all 24 deals offered by this merchant have been deleted.

On 3 April 2017 a search on keyword "nowy" (which is Polish for "new") showed 24 deals, like in the screenshot below.

One day later not a single result is visible. All hyperlinks of individual deals we saved earlier, currently produce this error message:

3.2 Original review as publish on 3 April 2017
You can find all deals by searching in keyword "nowy" (which is Polish for "new") via this hyperlink:

We selected the only deal for which more than 1 coupon is sold:
Volkswagen Passat (Dealshaker link)

Merchant website:
NB: this domain name was registered very recently on 2 March 2017, see

Merchant Facebook page: Facebook @onemillionshop

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR)OneCoin Value
per coin (EUR)
6,000.00 EUR + 5,538.46 ONE31,760
(= 134,500 Polish Zloty)

Part of the Dealshaker specification, with translated from Polish with help of Google Translate (red and bold added)

First platform in the world that sells new cars for cryptocurrency.
Each of the presented models has full documentation and is issued on the basis of VAT invoices 23%. Warranty is run from the date of registration of the car in Poland and is valid throughout the European Union.
Your new car can be cheaper by up to 90% - Welcome to purchase! 

It is possible to register temporary (30 days) and transport at your own expense to your country. The car can be purchased by individuals and companies with a valid coupon. The coupon can only be generated via the platform.
If the buyer of the coupon is a person or company registered outside the country, after-sales department helps in the re-registration of vehicles.
The waiting period for the car begins when the contract is approved and the coupon is sent to
The time of receipt depends on the order of the approved contracts and takes a minimum of 6 months, with the reservation that the contract may be executed earlier.

Selling brand new cars. With full documentation. With invoice VAT 23%

Calculation of list price
The list price for a Volkswagen Passat Comfortline 1.8 TSI with Business Package as advertised is 134,500 Polish Zloty, or 31,760 EUR, see

Volkswagen Passat configurator on

Nissan Qashqai offered by the same merchant
Nissan Qashqai Acenta (Dealshaker link)

Mazda 6 offered by the same merchant
Mazda 6 (Dealshaker link)

Deal Review 4 - Mercedes Benz GLE 320 4MATIC SUV - China
This Mercedes Benz GLE 320 was offered by an Individual Business (i.e. not a registered company) with the name Ya-lin Liun and User Name lzq43935.

NB: A day after we made this review, this deal was deleted.

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR)OneCoin Value
per coin (EUR)
114,000 EUR + 11,692.31 ONE105,980.30 EUR -
111,974.04 EUR

We compared the Dealshaker price with the list price on the official Mercedes website: Price list Mercedes GLE Class - China in CNY Renminibi (RMB)

Note: the German Price list Mercedes GLE Class - Germany which is in euros does not contain the GLE 320 model, it starts with GLE 350.

CNY to EUR conversion:

  • The Google translated text in paragraph ABOUT THE MERCHANT contains this vague text:
    "Business type 2014 models S 320L".
  • Google translated Dealshaker DESCRIPTION:
    "Fuel: 13.8L / 100km (3 per capita) body size: 4813 * 1951 * 1796 combined consumption: 9.3L / 100km (Ministry) body structure: the SUV vehicle warranty: Any three kilometers Engine: 3.0T 272 horsepower V6 shift box: 9-gear manual drive: front-wheel-drive"
  • No further specification of colour and version.
  • Deal can be bought from 31 May 2017

We found a similar deal from the same merchant which on 3 April 2017 was still visible (screenshots with Google Translate to English)
Mercedes R320 4MATIC (Dealshaker link)

The same merchant also offered these deals, which in the meantime have been deleted:
  • Mercedes GLS 400 4MATIC for 173,500 EUR + 17,794.87 ONE
  • Mercedes S 320 L for 128,000 EUR + 13,128.21 ONE

Deal Review 5 - iPad Mini 4 Wi-Fi 16GB Space Gray - Panama
Product offered by an Individual Business with the name Lyxor Computer in Panama.
iPad Mini 4 Wi-Fi 16GB Space Gray (Dealshaker link)

We compared the Dealshaker price with the price on (377.79 USD = 354.57 EUR) and (399.50 USD = 374.94 EUR).

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR) OneCoin Value
per coin (EUR)
43.15 ONE354.57354.578.22

Deal Review 6 - Charter a Private Jet - Online Service
Online Service offered by Individual Business.
Charter a Private Jet (Dealshaker link)

Description of the deal:

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR) OneCoin Value
per coin (EUR)
0.20 EUR + 0.08 ONEIrrelevantIrrelevantIrrelevant

This is the website which offers the service:

This deal is promoted by Ken Labine (Facebook link) (mirror on (mirror on

Deal Review 7 - Projector AM01S for Android
This deal is offered by an Individual Business from Mexico.

Projector AM01S for Android (Dealshaker link)

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR) OneCoin Value
per coin (EUR)
258.88 EUR + 26.55 ONE82.46 - 150.15 EUR
(87.86 - 159.99 USD

Projector AM01S for Android on

Projector AM01S for Android on

Projector AM01S on

Deal Review 8 - 18 Carat Gold ring with Purple Diamond
This diamond is offered by an Individual business in China. A real bargain, because you get a whopping 1% discount on the total deal price of 2 million euros (50% must be paid in OneCoins).

18 Carat Gold ring with Purple Diamond (Dealshaker link)

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR) OneCoin Value
per coin (EUR)
990,000.00 EUR + 101,538.46 ONEUnknownUnknownUnknown

Deal Review 9 -  4 Nights IN Wyndham Grand Athens hotel
This deal is offered by OneTravel Deals, a Registered Business which probably is related to the OneLife company.

4 Nights Wyndham Grand Athens hotel (Dealshaker link)

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR) OneCoin Value
per coin (EUR)
494 EUR + 50.67 ONE450 - 720 EURNegative to 226 EURNegative to 4.46

Same hotel on - 16 April till 20 April 2017 - including breakfast - 15 May till 19 May 2017 - including breakfast - 2 June till 6 June 2017 - including breakfast

Deal Review 10 - Mobile Phone, Nokia Silver
This is an example of deals offered by OneLife members to let it look as if this a succesful platform.

Mobile phone, Nokia Silver, defect battery (Dealshaker link)

Dealshaker priceRegular price (EUR)Total OneCoin Value in deal (EUR) OneCoin Value
per coin (EUR)
2.00 EUR + 0.21 ONEImpossible to calculate (second hand and faulty)NANA

Deal Review 11 - Bedspreads from merchants in China
These are two examples of merchants who offer bedspreads in Dealshaker section > Products > Home Decor > Bedroom.
Both have published about 200 deals.

(Kelly Wick textile) jxh118
  • Individual business - about 200 deals
  • Search string:

(Anna rich textile) jinxikun
  • Individual business - about 200 deals
  • Search string:

Sunday, 19 March 2017

Analysis of OneCoin blockchain - Summary of findings and Q & A about approach

1. Can you give a summary of the analysis and findings on the OneCoin "Blockchain" so far?

2. The OneCoin Blockchain is "private" and "closed source", how can you claim to know ANYTHING about it?

3. How sure are you that the current OneCoin Blockchain is simulation software with fake block and transaction data?

4. How sure are you that there is not a "real Blockchain" behind the current façade?

5. The OneCoin Blockchain has been audited by external, independent auditors. Isn't that enough proof of the existence of the cryptocurrency and the Blockchain?

6. If the OneCoin software developers would implement a Blockchain modification, so that for instance tokens submitted for mining and transfers to Upline/Downline members would appear on the Blockchain pages, would that be proof that a real Blockchain exists?

7. Can the OneCoin company still create a real Blockchain?

8. There are numerous other fake altcoins. Why do you target OneCoin specifically?

9. OneLife sells Educational packages, does anybody have the right to complain if the Blockchain is fake and OneCoin is not a cryptocurrency?

10. Is OneLife/OneCoin a Ponzi scheme?

11. What is your advice for people who realize that they have been deceived and want to quit?

12. You are anonymous bloggers, why are you hiding your identity?

13. Who is paying you to maintain this website?

14. If you're not paid, what is your motivation to maintain this website?

1. Can you give a summary of the analysis and findings so far?

The article Part 12 - Purchase E-book on is the last one in a series of (technical) analysis of the OneCoin "Blockchain". It is the last article of this type, because we have investigated all possible transaction types which we were able to execute with OneCoins.

We have never seen any of our transactions on the OneCoin Blockchain screens. This is irrefutable proof that this "Blockchain" is simulation software connected to separate database tables with fake Block and Transaction data, hence OneCoin is not a cryptocurrency.

(OneCoin) Blockchain: pages with Block and Transaction data visible in the backoffice (after login), accessible via Menu option CRYPTOCURRENCY > BLOCKCHAIN
Block: data visible via hyperlink[block-hash-id]
Transaction: data visible via hyperlink[transaction-hash-id]

HyperlinkSummary of findings
9 March 2017Prohibitions and Warnings by Legal Authorities
23 November 2016Part 1: MiningWe submitted Tokens for mining, ten times in a row.
For none of the "mined" Onecoins a Transaction was visible on the Blockchain screens.
NB: The Blockchain explorer which shows Block data was not active on that day. Only Transactions were visible (with automatic refresh of data).
1 December 2016Part 2: Transfer of Onecoins to downline IMAFrom the Onecoin Account of an Upline IMA (Independent Marketing Associate), send Onecoins to a Downline IMA, a number of times in a row. Four transfer Transactions were executed, with 1, 2, 3 and 4 Onecoins respectively. These transfers of Onecoins to a downline IMA were not recorded in the Blockchain.
4 December 2016Part 3: Transfer of Onecoins to Xcoinx ExchangeOn the exchange website, transfer Onecoins from the OneLife Account to the Xcoinx Account, 10 times in a row.
Transfers of Onecoins from the OneLife account to the Xcoinx account were not recorded in the Blockchain.
NB: Because is closed to prepare for the IPO (Initial Public Offering) planned in 2018 Q2, this procedure is not reproducible anymore.
14 December 2016Part 4: "genesis block #0" - Version 21. According to Dr Ruja Ignatova 1,986,580,000 Onecoins were "mined" within one minute and the Blockchain explorer shows that the complete output went to one Input Address. As these Onecoins are supposed to belong to about 2.5 million paid accounts (i.e. about 2.5 million separate e-wallets), this is conclusive evidence that "genesis Block #0" including its Transaction is fake.
2. The Onecoin Account - Transaction History of the account we used for this analysis shows two Blockchain migration related Transactions with timestamps of one and two minutes after midnight on 1 October 2016 GMT/UTC. The "mining" of the genesis block happened 9.5 hours later. This is conclusive proof that this "revelation" during the Mastermind Event in Bangkok was one big show.
28 December 2016Part 5: Automatic Onecoin buy orders (mining)For the automatically "mined" Onecoins no Transaction was visible in the Blockchain.
9 January 2017Part 6: Buy/Sell orders via Xcoinx ExchangeNone of the orders executed via the Xcoinx Exchange we investigated was visible in the Blockchain explorer in the back-office.
NB: Because is closed to prepare for the IPO (Initial Public Offering) planned in 2018 Q2, this procedure is not reproducible anymore.
4 February 2017Part 7: "Mining" outside the "Blockchain"We were able to "mine" OneCoins on a day when the complete Blockchain was out of order for maintenance. The evidence that this OneCoin Blockchain is fake/simulation was never so obvious and in fact this makes all other investigations superfluous.
13 February 2017Part 8: Blockchain Explorer Simulation SoftwareWe analyzed the characteristics of the OneCoin Blockchain simulator and gave a number of "recommendations" (DO's and DON'Ts) to make the Block and Transaction data look more credible.
22 February 2017Part 9: Transfer of OneCoins to downline IMA - VideoNew and very strong evidence, illustrated by means of a video, that transfers of Onecoins to a downline member are not recorded in the "Blockchain" and hence that the Blockchain is simulation software.
6 March 2017Part 10: Audit ReportsThe first auditor of Semper Fortis explicitly excluded Token transactions, i.e. the "mining" proces.
The second auditor of S Systems Ltd explicitly stated that he accepts the data, provided by One Network Services Ltd, as correct and that he holds no responsibility concerning the data correctness.
In other words, both auditors did not investigate the origin and authenticity of the Transaction data in the Blockchain, which were fake/simulation.
This makes all audit reports meaningless and useless.
12 March 2017Part 11: Converting OneCoins for OFCsFour transactions for conversion of OneCoins to OFCs (Options for Future Certificates) were not visible in the Blockchain, which delivered more evidence that this Blockchain is fake/simulation.
18 March 2017Part 12: Purchase E-book on Dealshaker.comFour transactions for the purchase of products on the Dealshaker platform were not visible on the Blockchain screens.

2. The OneCoin Blockchain is "private" and "closed source", so how can you claim to know ANYTHING about it?

The OneCoin Blockchain is "private" indeed, but that is not a synonym for "completely invisible". On the contrary, the OneCoin Blockchain is visible for everybody who can login with an account on Even a free Rookie account is sufficient to do this.

If you chose "CryptoCurrency" in the left menu, you go to the MINING page where you can see the latest six "Transactions". On the BLOCKCHAIN page, accessible via hyperlink (login required), you find hyperlinks to the latest six Blocks. And on each Block detail page there are hyperlinks to the "previous block" and the "next block(s)".

Next to the free Rookie accounts, we have received the "credentials" (User Name, Password and Transaction Password) of a number of paid accounts (Trader, Pro Trader and Tycoon Plus). These credentials were handed over voluntarily by other IMAs who found that they have been deceived and that the Tokens and OneCoins are (almost) worthless. With these accounts we can execute real transactions with Tokens and OneCoins, as described in the series of (technical) analysis on the OneCoin Blockchain.

The software programs on the other hand are indeed "closed source". But we really don't need this software to come to the conclusions we have described.

3. How sure are you that the current OneCoin Blockchain is fake/simulation software?

In our opinion the current OneCoin BLOCKCHAIN pages contain fake Transaction data. This conclusion is based on three different types of evidence:

a. We have executed all Transaction types which are possible with OneCoins ourselves (except automatic mining for packages which have automining, i.e. Premium Trader and more expensive packages). We have never seen any of our Transactions on the Blockchain pages.

b. By means of an automated tool (Selenium IDE, a plugin of the Firefox browser) we automatically "browsed" through all Blocks. This way we downloaded and saved all Block and Transaction data from Block #0 (the genesis Block), created on 1 October 2016 09:31:13, up to and including Block #128429, created on 31 December 2016 23:59:41. We imported these data in an Excel spreadsheet to make calculations of daily statistics. In a nutshell, these statistics are incredible.
For instance, the wild fluctuations in the number of transactions are far from realistic if these would reflect OneCoin transactions in a fast growing community of IMAs (according to the OneLife Newsletters that is).

This is a graph of the daily statistics of the fourth quarter of 2016. We will make a similar version of the first quarter of 2017 after 31 March 2017.

c. We have "zoomed in" on the detail Transaction data and found that a large number of Transaction amounts are incredible:
  • Each block contains one, and only one, Transaction with 50,000 ONE (the newly "mined" coins) which always has only one Input Address. This is inconsistent with the concept of mining in pools, where the "reward" should be distributed among the different miners, i.e. with a separate Input Address for each miner.
  • In the past transfers of OneCoin to Upline/Downline IMAs, as well as Buy/Sell transactions via the external exchange and later, were only possible with round numbers, i.e. it was not possible to transfer or buy/sell fractions of OneCoins. The vast majority of OneCoin Transactions had fractions.
  • The only transaction types with amounts with fractions, were the result of mining transactions. Except for "Auto buy from Trading accounts", which happen only on Mondays, amounts in fractions can be the result of submitting Tokens for mining. If you multiply the OneCoin Amount by the Difficulty Factor valid on the Transaction date, the result should be a round number, with only small rounding errors (because the Amount of OneCoins = Number of Tokens submitted for mining, divided by the Difficulty factor). The vast majority of Transactions with amounts with fractions did not comply with this rule.

4. How sure are you that there is not a "real Blockchain" behind the current simulation/façade?

We are aware of Russell's teapot analogy and we realize that it is impossible to give 100% proof of the non-existence of a OneCoin Blockchain. This is why our conclusions are based on the findings related to the Block and Transaction data which are visible on the BLOCKCHAIN pages in de backoffice.

However, we did not claim that OneCoin is a real cryptocurrency with a real Blockchain, OneCoin Founder & Visionary Dr. Ruja Ignatova and the companies OneCoin and OneLife claim this. So she, or representatives of the OneLife/OneCoin companies, must deliver the proof. They failed with OneCoin Blockchain Version 1 and 2.

NB: We recently read announcements on Facebook about a Whitepaper which will be published during the Macau Event on 7 May 2017, which will contain the "proof" of the existence of the OneCoin Blockchain. We are looking forward to that.

5. Isn't the fact that the OneCoin Blockchain has been audited by external, independent auditors enough proof of the existence of the cryptocurrency and the Blockchain?

No. We have analyzed all 18 Audit Reports, 3 made by Semper Fortis auditor Dian Dimitrov and 15 made by S Systems Ltd auditor Atanas Lazarov, which relate to OneCoin Blockchain Version 1, which was active until 30 September 2016. We found evidence that both auditors based their positive conclusions on the wrong assumption that the Blockchain data represented real/genuine Transactions, while there is proof that the Blockchain Transaction data are fake. This makes the first 18 Audit Report meaningless and useless, they prove nothing.

On 1 October 2016 a new Version 2 of the OneCoin Blockchain was launched. Apart from the starting Balance in the OneCoin and Coinsafe Account, there is no connection between Versions 1 and 2.

Update: in April 2017 a number of Audit Reports have been published which cover the Block and Transaction data of Blockchain Version 2, which was launched on 1 October 2017. These reports will be analyzed later.

6. If the OneCoin software developers would implement a Blockchain modification, so that for instance tokens submitted for mining and transfers to Upline/Downline members would appear on the Blockchain pages, would that be proof that a real Blockchain exists?

No. In the current phase with a Blockchain simulator which exists since 1 October 2016, it would not have any value if "suddenly" specific transaction types, or even all transaction types, would appear on the Blockchain pages. On the contrary, it would only produce more evidence that the current Blockchain version is invalid (i.e. fake/simulation). This has to do with the basic concepts of a blockchain, which is also supported by this description on
  • "OneCoin’s blockchain consists of each transaction ever performed in OneCoin.
    The blockchain is based on protocols that authenticate, validate and store information in consistent, unbroken sequences that make the system safer by eliminating any attempts of fraud, duplicity and forgery."

One of the characteristics is that a Blockchain has to be valid and complete from the start. It cannot be changed or repaired after the launch.

The concepts of Blockchain technology are illustrated in this great video:

7. Can the OneCoin company still create a real Blockchain?

With suitable skilled people it should still be possible to build a real OneCoin Blockchain indeed. However, due to the basic characteristics of any cryptocurrency, this cannot be done by "repairing" the current version of the Blockchain. The complete Blockchain must be built again from the start, i.e the genesis Block launched on 1 October 2016.

The genesis Block must be custom made with about 2.5 million e-wallets which contain the OneCoin start balance as per 1 October 2016, one for each existing user account which contained OneCoins on 1 October 2016. After that all OneCoin transactions since 1 October must be migrated to this new Blockchain in strict chronological order, a task which probably can be automated.

We have no idea how a real Blockchain would fit in the characteristics of the current simulation blockchain, like the Token conversion for "mining" and the non-sensical Difficulty Factor. Probably Ruja Ignatova must come up with something completely new.

Whatever Ignatova will do, because we have downloaded all detail simulation Blockchain data from 1 October 2016, we will discover every change in Block and Transaction data.

So although it is technically feasible, implementing a new OneCoin Blockchain would reveal immediately that the current Blockchain is fake. It would not make sense at all to do this, as a private Blockchain has hardly any advantages compared to the "regular database" the companies currently use.

8. There are numerous other fake altcoins. Why do you target OneCoin specifically?

For two reasons:
  1. OneCoin is by far the largest in terms of money inflow and number of members.
  2. OneLife/OneCoin is represented by a large number of noisy pathological liars, which we don't really like (to put it mildly).

9. OneLife sells Educational packages, does anybody have the right to complain if the Blockchain is fake and OneCoin is not a cryptocurrency?

A recent document with title Compliance rules in the backoffice contains the following text on page 30:
  • We are selling educational packages and give the MAs an opportunity to apply the knowledge about the cryptocurrency into practice by providing them some promotional tokens which give access to the mining pools but not guarantee that and how many coins will be received.
  • Tokens provided when activate the particular package are promotional ones and give the opportunity to IMAs to apply their knowledge about cryptocurrencies they have acquired from our online education into practice.
  • Remember: no one buys OneCoins or tokens

Similar texts about promotional tokens, the access to mining pools (which is not guaranteed) can be found in the General Terms and Conditions.
This attempt to limit the legal liabilities by the OneLife company is ludicrous, because there is so much proof that contradicts this, that we will dedicate a special article to this topic.

In this Q&A we limit ourselves to some examples.

a. Investment advice by OneCoin Founder and Visionary Dr. Ruja Ignatova
These two videos are published on the YouTube channel OneLife (offical). Count the number of times you hear the word "education". If you don't have time to listen, the answer is: zero.

Split Strategies - by Dr. Ruja Ignatova

Introducing the Tycoon+ and Ultimate Packages! - by Dr. Ruja Ignatova

b. "Promotional Tokens" are an integral part of the products, the so-called "educational packages"

See for instance the description of the Infinity Trader Package

  • Infinity Trader offers exclusive features to help traders optimize their efforts and gain substantial trading skills. With this package, members get full access to all 6 OneAcademy levels and the special 7th module for people who seek to upgrade their skills and knowledge to a master level. The infinity membership gives 300 000 promotional tokens which can be put into cryptocurrency mining and generates 27 500 BV points for network bonuses.

c. The OneCoin "cryptocurrency" is the heart, the center of the "Ecosystem"
This picture is part of the the publicly available promotional material on / One Ecosystem:

d. The goal of the OneLife Network is to create a Global Reserve Cryptocurrency
We give two examples.

Screenshot of Live Stream of OneLife Mastermind Event, 1 October 2016 in Bangkok. Presenters: Sebastian Greenwood and Ed Ludbrook

Watch this video fragment of this presentation. Ed Ludbrook is speaking:
  • "So our message is really simple and it's all in this one graph that you need to learn, you need to understand and it's so simple, we have pioneered for two years, we have proven that we are the strongest,  most dominant cryptocurrency in the race, in the race to achieve and create the first global reserve cryptocurrency, we are winning!"

Coinrush Event, 11 June 2016, London:
Dr. Ruja Ignatova, Coinrush Event, 11 June 2016, London (Facebook link)

10. Is OneLife/OneCoin a Ponzi scheme?

Yes, in our opinion, it is. We know Tom McMurrain's popular YouTube video (i.e. popular among OneLife members) in which he explains why OneCoin can NOT be a Ponzi scheme.
He was right on two important points:
a. When new money comes in because members buy products, the OneLife company has to pay commission to Upline members only once.
b. Members are not required to buy or sell products or pay monthly fees.

However this video contains several inaccuracies.

a. McMurrain claims that the value of the coin is determined by the miners because of supply and demand.
This is not true because the price of OneCoin, which is displayed in the backoffice and which the majority of the members firmly believe in, is dictated by Dr. Ruja Ignatova (based on nothing).

b. McMurrain explicitly states that the company does not promise an interest rate.

This is not true, because OneLife promises a guaranteed Return On Investment with the Coinsafe account. We have tested this ourselves. If you choose a duration of two years, any transfer of OneCoins to Coinsafe is immediately increased by 12% interest in coins (or 12/100 profit share ratio if you select the Sharia compliant version).

Regular banks pay much less than 1% interest for savings accounts with two year fixed interest rates.

NB: the fact that OneLife pays interest in OneCoin has always been inconsistent with the following text on
  • "OneCoin is not a pre-mined cryptocurrency, meaning that the OneCoin miners create the market. "
Note: Currently IMAs are exchanging OneCoins for OFCs (Options for Future Certificates) so the company is collecting large numbers of OneCoins (not that it really matters, because nobody outside the company can check this).

c. The most important Ponzi element in this network is that new members are lured in because of continuous predictions about the development of the OneCoin cryptocurrency and comparisons with the Bitcoin price.

We give one example from the OneLife Video Presentation. The financial revolution [ENG] (YouTube link):
  • "According to the first predictions in 2014 the value of a single OneCoin after one year was to reach 5 euro.

    However, already ten months later the price of a single OneCoin exceeded the initial prognosis and hit 5.65 euro. OneCoin is expecting a further increase in value within the next couple of years, based on the constantly growing network of miners, but also because of the numerous companies who want access to the millions of Onecoin owners to promote their services and products, thus expanding the utility area even further.

    This is not a promise or a guarantee in any way, however the historical aspect of OneCoin's journey so far makes the future even more exciting and it can benefit the entire modern society and future generations."

The voice-over mentions the hypocritical formal disclaimer ("this is not a promise or a guarantee in any way"), but in the graph we see a "prediction" of the OneCoin price in a couple of years, a "careful" version with a price increase to 50 euros and an "optimistic" version with an increase to 100 euros.

NB: This video was first published in August 2016 when the OneCoin price was 6.25 euro.

11. What is your advice for people who realize that they have been deceived and want to quit?

  1. If you have euros in your Cash Account, withdraw the full amount ASAP as this whole system can collapse any moment.
  2. If you have not done so yet, don't submit your real KYC documents! There is a great risk that in a later phase the KYC documents will be abused to commit identity theft.

12. You are anonymous bloggers, why are you hiding your identity?

For two reasons:
a. We are concerned about our safety.

b. Our motto is: "facts don't need a face". Adding names and profile pictures to this website would not change any of the facts or conclusions and would only distract the attention from the important subjects.

Our aim has always been and will always be, to describe the procedures we have applied ourselves in such a way that they are reproducible by anybody with a OneLife account.

We have considered to ask some well-known Blockchain experts to endorse our approach and conclusions, but we decided not to do this, because:
  • If we are concerned about our own safety, we cannot expect other people to speak out.
  • We have already seen that even the most respected (i.e. outside the OneCoin/OneLife community) Blockchain experts are turned down for being "Bitcoinists".

13. Who is paying you to maintain this blog?

  1. We have never received a penny nor 0.00000001 Bitcoin and will never accept anything in the future either.
  2. We even did not switch on the feature to display ads on this website.
  3. We get our information from many sources, but we are not associated with or dependent on any other website or blog.
  4. And finally, we won't lose one minute of sleep if the Bitcoin price crashes.
    NB: If other people do, we respect that.

14. If you're not paid, what is your motivation to maintain this website?

We want to prevent that more victims are lured into this ponzi / pyramid system.