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OneLink Ponzi scam is OneLink rebadged

OneLink Ponzi scam is OneLink rebadged

OneLink Ponzi scam, the spiritual successor to OneCoin, is here to rob new investors. The notorious OneCoin Ponzi scheme has reared its ugly head once again and is ready to trap gullible crypto fans. The new scam, named OneLink, works just like the OneCoin Ponzi scam, which reportedly raked in $4 Billion worldwide.

Started by Ruja Ignatova, OneCoin unleashed its global carnage and scammed many crypto aficionados. A total of 98 people across the world faced prosecution except for the protagonist Ruja who successfully ran away with 500 Million Euros. Interestingly, she is still untraceable. Keeping these historical aspects in mind, investors must be careful about the OneLink Ponzi scam.

OneLink Ponzi Scheme is OneCoin Version 2.0

Former OneCoin operative Simon Le is currently heading the Onelink scam. Operated by ‘onelinknetwork’ domain, the new entity was registered on 5th March 2020. Interestingly, Le was at the helm in OneCoin, and he saw the Vietnamese operations of the scam. He was part of the top management and went on promoting the scheme even when company offices were being raided by the authorities. He is currently on the run, and extradition efforts of U.S. authorities are yet to bear fruit.

OneLink Ponzi scam works just like its parent. There are no products or services, and participants have to promote the scam’s affiliate program. New entrants are lured in by the participants in lieu of commissions. A binary compensation mechanism pays commission and bonus to the user to fill their ‘downline.’ Affiliate’s downline provides a further bonus to the user.

Gullible crypto investors are taking the bait – once again

Additional incentives await the OneLink members. Top earners are given a Rolex watch and other exclusive rewards to help attract top marketers. The marketing aspects also cover the charity and trading services part to make the scheme look real. OneLink Ponzi scam asks a minimum of $40 from investors, but users can also choose to start with $5,000.

Unfortunately, Le has also targeted OneCoin victims in his new scam. He calls on them to join using their old OneCoin accounts and earn points in the new scheme. This is sad since many investors have lost hundreds of dollars to the scam, and now OneLink Ponzi scam is rubbing salt on their wounds.

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Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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