Cryptocurrency Community Still Says OneCoin Is a Scam
Recently, we reported that London officials were investigating the claims of fraud made against the OneCoin operation. However, OneCoin officials wrote a letter against the UK’s Financial Conduct Authority warning, saying they are “disappointed.” The group says they have never been contacted by the London Police and the “investigation has not been explained.”
Furthermore, OneCoin sent out a second press release about its October 1 double coins event. OneCoin founder Ruja Ignatova says that developers have made the OneCoin blockchain more secure and scalable for its upcoming massive amount of transactions. The new revamped OneCoin blockchain is capable of mining 50,000 tokens per block, and significantly faster than before, says OneCoin.
“We do not expect a steep price movement after October 1st. Cryptocurrency value is driven by supply and demand – and demand is driven by brand and usability. By doubling the coins, we will be able to bring the coin to more people and places and strengthen the brand. 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,” says Ruja Ignatova, OneCoin Founder.
Legitimate cryptocurrency innovators and developers believe most of what OneCoin purports is all bologna. As a result, nearly every day, blockchain proponents and digital currency community members post about this fraudulent behavior. This is most likely happening because Bitcoiners and blockchain advocates don’t want this project associated with real cryptocurrency businesses.
OneCoin is still not listed on any reputable coin market capitalization website or any legitimate exchange. OneCoin has created their own capitalization chart making them the top crypto and offer their own exchange. Meanwhile, there are literally no reports of people using this exchange to cash out as many believe it’s not even possible. At the very least Bruce Fenton hopes his letter will be helpful to those considering joining this MLM operation.
“More importantly, I hope this can help serve as a warning to those who might be considering involvement in OneCoin,” Fenton told us.
What do you think about the letter against OneCoin operations? Let us know in the comments below
Recently, we reported that London officials were investigating the claims of fraud made against the OneCoin operation. However, OneCoin officials wrote a letter against the UK’s Financial Conduct Authority warning, saying they are “disappointed.” The group says they have never been contacted by the London Police and the “investigation has not been explained.”
Furthermore, OneCoin sent out a second press release about its October 1 double coins event. OneCoin founder Ruja Ignatova says that developers have made the OneCoin blockchain more secure and scalable for its upcoming massive amount of transactions. The new revamped OneCoin blockchain is capable of mining 50,000 tokens per block, and significantly faster than before, says OneCoin.
“We do not expect a steep price movement after October 1st. Cryptocurrency value is driven by supply and demand – and demand is driven by brand and usability. By doubling the coins, we will be able to bring the coin to more people and places and strengthen the brand. 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,” says Ruja Ignatova, OneCoin Founder.