OneCoin Review - Cryptocurrency & Forex MLM | Trust Score & Ratings

Founded2014

HeadquartersSofia, Bulgaria

Trust Score20/100

About OneCoin

OneCoin is a notorious MLM company founded in 2014 in Sofia, Bulgaria, that has been labeled a massive Ponzi scheme.

Despite claiming to be a revolutionary cryptocurrency, OneCoin sold educational packages ranging from $100 to $118,000 for a product that didn't even exist. The operation swindled investors out of over $4 billion globally.

With its founder, Ruja Ignatova, on the FBI's Most Wanted list and a trust score of just 20/100, OneCoin represents one of the largest frauds in history, leaving thousands of victims worldwide.

Pros and Cons

✓ Pros

✗ Cons

Massive Fraud
OneCoin ran a $4+ billion Ponzi scheme, leaving thousands of victims in its wake.
Founder on FBI's Most Wanted List
Ruja Ignatova, the founder, is a fugitive and has been evading law enforcement since 2017.
No Real Cryptocurrency
The cryptocurrency promised by OneCoin was entirely fake — there was no actual blockchain.
Legal Troubles
Co-founder Konstantin Ignatov was convicted and sentenced to prison for his role in the scam.
Extremely Low Trust Score
OneCoin has a trust score of only 20 out of 100, indicating severe credibility issues.
Global Impact
Victims span across multiple countries, showing that this fraud had a wide-reaching effect.

Verdict: Stay far away from OneCoin. It's one of the biggest scams in history, and there's no legitimate opportunity here. Investing or getting involved could lead to severe financial and legal troubles.

Best for: This is not for anyone; if you're considering it, run the other way. It's crucial to steer clear of anything associated with OneCoin.

Risk Analysis

OneCoin is a notorious fraudulent scheme that has defrauded investors of over $4 billion. The founder is wanted by the FBI, and the entire cryptocurrency was a scam without any real product backing.

Key Concerns

Massive Ponzi scheme critical
Over USD 4 billion fraud documented with thousands of victims.
FBI Most Wanted fugitive critical
Founder Ruja Ignatova is on the FBI's Most Wanted list.
No real product or blockchain critical
The cryptocurrency was entirely fake, with no underlying blockchain technology.
Criminal convictions of co-founders high
Co-founder has been convicted, indicating serious legal issues.

Consumer Advice: Stay far away from OneCoin. It's a prime example of how easily people can be scammed in the MLM world. If something sounds too good to be true, it probably is.

Frequently Asked Questions About OneCoin

Is OneCoin a legitimate MLM company?

OneCoin is not a legitimate MLM company; it's a massive Ponzi scheme. Founded in 2014, it defrauded investors of over $4 billion, and its founder, Ruja Ignatova, is on the FBI's Most Wanted list.

What products does OneCoin sell?

OneCoin sold so-called 'educational packages' ranging from $100 to $118,000, but these were just overpriced materials with no real value. There was no actual cryptocurrency or blockchain backing these products.

How much can you make with OneCoin?

Most people lost money with OneCoin rather than making it. The compensation plan was designed to reward those at the top, while the majority of participants ended up as victims.

Are there complaints about OneCoin?

Yes, there are thousands of complaints from victims worldwide who lost their money. The company has been linked to one of the largest frauds in history, and many have faced financial ruin.

What is the compensation plan for OneCoin?

OneCoin's compensation plan operated like a Ponzi scheme, relying on recruitment rather than legitimate sales. It promised multi-level referral commissions, but those at the bottom saw little to no returns.

How much does it cost to join OneCoin?

Joining OneCoin could cost anywhere from $100 to $118,000, depending on the educational package you chose. This hefty price tag was part of what made it so controversial.

What is OneCoin's BBB rating?

OneCoin doesn't have a BBB rating, which is a red flag. The Better Business Bureau typically rates businesses based on trustworthiness, and the lack of a rating suggests serious issues.

What are the risks of joining OneCoin?

The risks of joining OneCoin are extremely high. With a trust score of just 20 out of 100 and numerous criminal convictions tied to its founders, it's a critical risk to your finances.

Are there alternatives to OneCoin?

There are many legitimate MLM companies out there, but you should do thorough research first. Look for companies with a solid reputation, real products, and transparent business practices.

Compensation Plan

Plan Type

This is a Ponzi scheme disguised as a cryptocurrency investment plan. Basically, it promises you money for bringing in new people, but it relies on new investments to pay old ones.

How Earnings Work

Education Packages: You buy packages that cost between $100 and $118,000. These are supposed to offer 'education' on cryptocurrency, but they're really just a way to get your money.
Referral Commissions: You earn money by bringing in new members. The more people you recruit, the more money you could potentially make. But remember, this money comes from new members, not from actual sales or investments.
Bonuses: Sometimes, you might get bonuses for hitting certain recruitment targets. However, these bonuses are usually tied to how many new people you've signed up.

Requirements

You need to buy an education package to start earning.
To earn commissions, you must keep recruiting more members. There are no real sales of products involved.