OneCoin Event Gets Crashed by Bitcoin Uncensored – Interview

Recently, Bitcoin.com ran an exposé on the OneCoin “cryptocurrency” project, calling out its smoke and mirrors operation. Afterwards, we got a lot of responses from the scam’s victims, and even commentary from OneCoin leaders themselves. Now, more information has been revealed on how shady this business is, and how it continues to prey on the misinformed.

Also read: Buyer Beware! The Definitive OneCoin Ponzi Exposé

OneCoin Meeting Gets Busted!

Last week, the hosts of Bitcoin Uncensored attended and recorded a OneCoin sales seminar in Miami to ask questions about the operation.

The video they released shows OneCoin leaders describing how people can get rich by investing in the operation and, come this October, their investments will rise in value because everyone’s coins will be doubled.

The hosts of the show, Joshua Unseth and Chris DeRose, asked the speakers how easy it is to cash out of the system.

The answer: OneCoin is a long-term investment, and people just don’t sell right away.

Bitcoin.com decided to get in touch with DeRose who gave us the inside scoop on the snake oil meetings OneCoiners are holding in the US and abroad. DeRose says he really likes discussing the issue and enjoys bringing more attention to it. In addition to this interview, the guys at Bitcoin Uncensored gave to us the unreleased audio of what took place when they crashed the Miami meeting.


Bitcoin.com (BC): How did you guys hear about the OneCoin event in Miami?

Bitcoin Uncensored Chris DeRose (CD): We run the South Florida Bitcoin meetup group every week, and it seems that by doing so, these stories/people/events seem to come to us. It’s not unusual for scams and shitcoin promoters to come out attempting to pump at our meetups, and really we encourage them to come so that we can examine their claims.

We’ve had a couple of OneCoiners come out in the past, but there’s been one particular OneCoiner “OneCoin Bob” that’s been pretty persistent. One night he showed us an ad for this event that was running in the Herald (not by him – but by a friend of his), and we decided we had to go check it out. We’ve gone to other, smaller such events in the past. But they were generally quite small, and their claims were less vulgar. So I think what’s interesting about this excursion was the extraordinary nature of the one coin claims and the number of people that attended.

I think the community needs to police itself.

BC: What were your thoughts on the overall experience?

CD: Oh man, we were going to talk about that at length in a future BU, there’s a lot of thoughts on this. I think I’m struck by how much of this scam ‘we’ as bitcoiners created. There seems to be this “get rich” narrative that altcoins, OneCoin, etc. are cultivating by citing both the success of Bitcoin and the rhetoric of bitcoiners. This is particularly pronounced in OneCoin, where there is literally no substance to the claims (i.e., “we’ll double the number of tokens on the new blockchain, and thus double your stored value”). This is even further compounded by the blockchain hucksters who are showcased on the presentation literature (“Jamie Dimon of JPMorgan Chase says blockchain will replace banks”).

Bitcoin Uncensored OneCoin

Also, watching the deference to oracles is kind of amazing. People decide that certain people are gods, and outsource their thinking to these people. Claims were being made to the effect that Ruja has a 200 IQ, extraordinary benevolence, and mental superpowers – and people were believing this. Ruja is a monkey just like the rest of us. She has no superpowers. Neither does Vitalik, or Larimer, or any of these people who are trying to separate people from their money. It seems to be a clever way to get people to stop thinking and believe in magic.

What’s funny to me is that there’s very little difference between OneCoin and most of the blockchain proponents, but that’s probably an opinion for another article. Though, I’m about to upload an interview with Lawrence Lundy of Outlier Ventures that would suggest the mentality of a lot of these VCs is (IMO) pretty OneCoin-ish.

After a bunch of prodding, you’ll learn that they’re ‘locked in’ until about December, which is when I suspect many of them will pull out.

BC: Do you think a lot of people attending bought into the pitch they were selling and why?

CD: I don’t know. I think a lot of them (40%) were already ‘in’ at a basic package before they got there. And I think most of those people were not persuaded by us. I know the organizers called up these people afterward and told them that we ‘were sent by Bitcoin to disrupt the meeting.’ Which might be true. Hahahaha.

For the remaining 60%, I’d bet that they were discouraged by our attendance and ‘presentation.’

Bitcoin Uncensored OneCoin

BC: When you guys asked about ‘cashing out’ what was the response and what did you guys think of the responses given by OneCoin associates?

CD: So, I’m not exactly sure what’s going on here, but what’s very clear to me is that the OneCoiners aren’t entirely honest about how they can cash out. They’ll tell you that they believe in this so strongly that they don’t want to cash out. However, after a bunch of prodding, you’ll learn that they’re ‘locked in’ until about December, which is when I suspect many of them will pull out. I also suspect that since this is the date they’re being told – it’s probable that OneCoin will crash just prior to this date.

BC: How did you guys feel about busting this OneCoin?  

CD: Junseth and I had a whole discussion about whether and how to involve authorities. And we decided a couple things. 1.  that’s not our ‘brand’, we’re anarchists, and I don’t think I intend to be the person to get government agents involved. (Though I also don’t care if someone else does) 2. I don’t think the government can really do much here, because all the value is routing out of the country. 3. I think the community needs to police itself. Junseth and I are the scam-busters around here, but there’s no reason for us to be the only ones. I think the community needs to be better about putting its foot down more often.

There seems to be a pretense amongst many bitcoiners that investment hawkers are ‘innocent until proven guilty’. But given the inordinate amount of failures, scams, etc., in this space, it’s very clear to me that no, solicitors are guilty until proven innocent, and we should be more vocal about that.


Thanks, Chris, for speaking with us about the OneCoin meeting. It’s nice to see there are some scam-busters out there helping rid the community of shady setups like OneCoin.

What do you think about the OneCoin investment meeting? Let us know in the comments below.


Images courtesy of Bitcoin Uncensored, youtube.com, Pixabay

  • EPIC! Grab your popcorn and Super-Size Soda, because these CRIMINALS actually call themselves the “Bitcoin Killers” – and for that, we need to comment, share, and otherwise DISRUPT AND DESTROY these scams as they become known! Here is what you can do: RECORD YOUR DISRUPTION OF THE FOLLOWING EVENTS AND SUBMIT THE HERE!

    Onecoin is masquerading under the banner “The New Currency” since “Onecoin/ OneLife” have absolutely destroyed their own reputation (oh, and because it is ILLEGAL for an unlicensed MLM to operate in the USA, particularly those selling unlicensed Securities).

    Here are ALL THE SUSPECTED Onecoin Meet-Up Groups please help find others on EventBrite and other siates, and expose them HERE!):

    HERE is a Los Angeles Group Meet-Up: http://www.meetup.com/Los-Angeles-New-Currency/

    Atlanta, GA this may or may not be a Onecoin Meet-Up (I think it is) http://www.meetup.com/GreaterAtlantaDigitalCurrencyMeetup/ and http://www.meetup.com/One-Billionaire-Club/
    This is DEFINITELY a Onecoin Meet-Up possibly founded by convicted con-artist, Tom McMurrain (although it is listed as “Tom Murrin” – possibly to avoid SEO’s [note: I cannot be sure]): http://www.meetup.com/Overland-Park-New-Currency-University/

    NOTE: THIS IS TOM MCMURRAIN ACTIVELY PROMOTING THE SCAM IN THE USA: http://www.meetup.com/Houston-New-Currency-Luncheon/members/121226522/

    NOTE! McMurrain hosts “The 7th Disruption” and “The New Currency Show” – a “cryptocurrency show” on Grant Cardone TV.

    He is THE WORST of the scammers! and is a CONVICTED criminal for previous scam schemes, and has spent a few YEARS in prison for defrauding other human beings with his scams! If it is legal, I encourage you to “Spam the shit out of him!” – as he has refused to have further conversation with me, and is SCAMMING with a very straight face to the cameras, talking about the Onecoin Ponzi scam is obvious is not an obvious Ponzi scam!
    HERE ARE OTHER ACTIVE PONZI SCAM GROUPS FOR YOU ALL TO DISRUPT, EXPOSE AND RECORD:

    Let’s have some fun with it, exposing these Ponzi Pimps and pseudo-cryptocurrency “experts!!!”

    Medfield, MA
    http://www.meetup.com/Future-of-Money-Meetup-Medfield/

    New York
    http://www.meetup.com/Cryptocurrency-Convention-CCCNYC/

    Champagne, IL http://www.meetup.com/CRYPTO-preneur-Champaign/

    Santa Barbara,
    http://www.meetup.com/Santa-Barbara-Digital-Currency-Meetup/

    Ventura California:
    http://www.meetup.com/Ventura-New-Currency/

    Nashvile, Tennessee
    http://www.meetup.com/Nashville-Digital-Currency-Meetup/

    Pleasant Grove, Utah
    http://www.meetup.com/Financial-Education-For-Digital-Currency-Blockchain/

    Las Vegas, NV http://www.meetup.com/DigitalCurrencyMastermind/

    Houston, TX http://www.meetup.com/Houston-New-Currency-Luncheon/

    Canada: http://www.meetup.com/Mississaugas-New-Currency-University/

    U.K. http://www.meetup.com/One-Coin-The-Bitcoin-Killer/

    Glasgow http://www.meetup.com/ONE-DREAM-TEAM-SCOTLAND-DIGITAL-CURRENCY/

    Switzerland http://www.meetup.com/Wallisellen-OneCoin-Krypto-Currency-Meetup/

    Germany http://www.meetup.com/Furstenfeldbruck-Onecoin-Kryptowahrung-Meetup/ and http://www.meetup.com/Munchen-Kryptowahrung-ONECOIN-Investment/

    Brisbane Australia http://www.meetup.com/OneCoin-Brisbane-and-Gold-Coast/

    France http://www.meetup.com/Meetup-Innovation-Rennes/

    Nederlands http://www.meetup.com/Haarlem-Amsterdam-OneLife-Meetups/

    THERE ARE PROBABLY MANY MORE. BUT WE CAN START DISRUPTING HERE

    Please submit ALL VIDEO AND AUDIO to Jamie Redman on this site and see what YOU can do!

    Please comment about this new “Bitcoin Killer” and the ignorance they are purveying!

    • Jake Bryan

      I almost went to the Nashville meetup but thanks to BTC Magazine’s John Barrett I avoided wasting a 2 hour drive to a ponzi scheme meeting.

      • Bitcoins and Gravy

        That John Barrett is a good guy!
        : )

  • One of my close friend who is from a middle class family has invested 5laks(£5000) in OneCoin, I suggested him that this is a fake and not a trust worthy. God save him before something happens.

    • Ali Hassan

      You are right … one should only work with MLM companies that are register from DSA USA , DSA Canada or DSA UK ….

      • harry

        Like an IPO…….Onecoin is still at its early stage…..these people got in early……its no use getting in when the coin is worth $500…..like Bitcoin….too late now

    • Err

      Same Situation for me. It’s very hard to argue with them. On the one hand, they don’t want to see the truth (that they’ve been fooled) on the other hand you don’t want to be the guy, that makes them feel like fools.

      I’m just happy to be able to stop the spread of this epidemic into further social circles of ours. Instead of labelling it as Ponzi Scheme (thus insulting friends that are already ‘in’), I rather tell them that it is considered by some as such. And more importantly, I tell them a good story for their greedy spirits: If you really think this thing will go “through the roof”, then why not wait till OneCoin hits the market? By then you’ll loose the scam risk entirely, will participate in the skyrocketing as well and all of that for a big discount, since so many one coiners would be more than willing to sell their coins, once they actually can do that.

      Of course, the skyrocketing will never happen – but it gets people off the fast-track of throwing (more) money at this scam and buys them time to reconsider.

    • harry

      This person could be set for life…..if you are wrong……and you will be the person who wish you joined too….lets wait and see. This person had the balls….good on him for not being a SHEEP

  • Richard Tanner

    When I first was introduced to bitcoin four years ago people were saying get the word out… get the word out! Now one coin is using a pyramid scheme marketing campaign I’ve seen a hundred of them throughout the years Bitcoin needs to use a similar marketing campaign to get the truth out.

    • harry

      Lots of people did not join up with Bitcoin because these very same people told them it was a scam…..that is why these same people are still working. Remember Bitcoin was a bigger scam those days,because you did not even know who the people behind it were….and we did not even know if Block chain was real.

      • Ein mal Opferrolle mit Soße

        Dude, how much money did you tank in onecoins and “tokens” 🙂 ? I feel sorry for you.

        • Lerry

          send me your email and i will send you the evidence of all real time transactions. Now i feel very sorry for you guys. My friend you have to face this pain full reality. In London some shops are already started accepting one coin. I totally agree with harry bitcoin was a biggest scam as per google bloggers— you need evidence just google “bitcoin scam” and see the articles. We know all people behind onecoin, we know where offices are located. Not only this once coin y has taken photo ID and proof of addresses of all members. show me just one evidence where onecoin was convicted of wrong doing? and finally thanks for writing bad comments/blogs.

          • Ein mal Opferrolle mit Soße

            I will definitively not give you my email. Creep. How about you, while making stuff up about London you learn some proper English?

          • Ein mal Opferrolle mit Soße

            Hey Lerry with an e: Still convinced you’ll ever get your money back? 🙂

      • Lerry

        Harry i was reading all blogs of Bitcoin lovers, I liked the idea. After little research i found an article against bitcoin calling bit coin The biggest scam of the century. I was confused. I took Bitcoin as case study to understand one coin. You know what because of these bloggers i have joined one and very satisfied after receiving my investment with profit. these bloggers are really helping us to grow one-life community. Any sensible person can read these blogs/comments of last two years and can conclude they are biased, in two years with over 2.5 million members we don’t know to say more 🙂

  • HTC DESIRE

    Onecoin is not SCAM.

    • harry

      I agree……Onecoin is not a scam……and there are millions with you on this…..we do not care if people joined us or not…..

      • Cascadia Coin

        Show me where Onecoin is exchanged on the open market. It’s not listed on any legitimate exchange. Not even YoBits which lists EVERYTHING……therefore it’s a scam.

  • HTC DESIRE

    Onecoin is a new crypto, other strategy. btc in 2008 was scam, today no scam. same road different management

    • Err

      Different management as in: the entire management is made up of people who already have been convicted for fraud. In several countries. For different scams.

      • harry

        Did anyone know who was behind Bitcoin in the early days…..NO

        • Ein mal Opferrolle mit Soße

          Still better than onecoin, where everybody knows who the owners are and thus everybody knows what kind of criminals they are.

          • harry

            It is still a better option….because if you want to arrest those behind OC you will find them at their Office address……you can not arrest anyone who is behind Bitcoin because they dont have an Office or a founder waiting to be picked up.

          • Ein mal Opferrolle mit Soße

            False harry, believe in your cult if you wish but you won’t see your “investments” again.

            The reason no one can be arrested for Bitcoin is because it’s open source. Thus there is no secrecy, no corporation behind it. It’s transparent. It’s a community of people who voluntarily take part in it.

            Onecoin: totally different. Some sleazy pretentious schmocks with no technical or finance background whatsoever as founders. A corporation that hides information. A corporation with no financial statements, no liability, no commercial registry informations, no information about the stakeholders or even its place of incorporation.

            Nobody with any experiences in basic finance (heck, even something passive as signing up for a mortage) would give such an entity a dime. Alas, this is why onecoins’ target audience are those who are as far away as possible from financial autonomy.

            The more gullible they are, the better.

  • Err

    I think it is inevitable. Cryptocurrency needs to get somehow “in bed” with government. “Policing itself” isn’t gonna happen soon, and the quick buck that scammers can make will find its victims faster than education can, thus crypto’s reputation will continue to deteriorate.

  • harry

    You busted a private meeting..

    ……this is not a Onecoin Official meeting..

    …….these are just over keen distributors.

    ……..what you heard is just their opinion.

    ……….not the companies opinion.

    …..the company takes no responsibility.

    ……..Onecoin is not a scam

    …….anyone missing out on this opportunity because of these bloggers
    should track them down in future…..when you find out how much you lost.

    • Ein mal Opferrolle mit Soße

      Onecoin is a scam.

      • harry

        Did you know that in the first 2 years of Bitcoin starting….they were also known as a Scam too…..and mostly by the same Bloggers as today.s….they are still pushing the same story. To these bored people….everything is a Scam

        • Ein mal Opferrolle mit Soße

          It’s a scam.

          OneCoin: No blockchain, thus no real currency, thus no value.

          There’s never going to be an open market for it, because the second it would go public, onecoiners would flood the market with their coins because it’s the only chance onecoiners would see some of their money again.

          I can tell you this, though I’ve never owned any cryptocurrency. Anybody with a sane mind can smell the scammy-ness from a mile just by looking at the self-presentation of these sleazy onecoin schmocks.

  • Lerry

    One coin is a 100% legal business, here are the facts.
    * Just in two years more than 2.5 million active members and over 5 billion euro market capitalization
    * After launch of onecoin merchant app on 1st october, 1 million merchants will be joining in next two years- some merchants have already started accepting onecoin in Uk and EU.
    * No hidden faces like bitcoin. You can see and meet all top leadership of onecoin in events worldwide.
    * Legimitate member verification process, you have to provide valid photo id and proof of address.
    * Social media networks joining one life network eg. site talk joined on 1st october 2016
    * Officially certified as legal business in Germany, Sweden, Bugaria, Norway and Italy by top law firms.
    * Story writers and bloggers are paid by rivals to publish online contents against onecoin but onecoin has the biggest MLM network onelife.
    * You can join free or with 140 euros
    * why big names joined onecoin – see you tube video interviews of nuclear scientist Dr. Patrick,Yousuf chambers of peace tv , Mr Mike former CEO Bank of America and many more.
    * see more facts about onecoin at http://www.xcoinx.com, http://www.businessforhome.org and http://www.onelife.eu
    * to join email:descent2k6@yahoo.co.uk or visit our London office in canary wharf

    • Michael Riordan

      Agreed 🙂

  • Lerry

    Onecoin haters we love you, you make us proud to be No1 Cryptocurrency. More than 1000 businesses in London have applied to join onelife business app in order to accept onecoin. Last week Onlelife ad was prominent in India vs England first cricket test match.wow