A. Summary of findings
- During the OneLife Mastermind Event on 1 October 2016 in Bangkok, Thailand, the second version of the OneCoin Blockchain (Simulator) was switched on in the presence of OneCoin Founder and Visionary Ruja Ignatova.
Timestamp: 1 October 2016, 09:30 AM GMT/UTC (= 16:30 / 04:30 PM local Bangkok time).
NB: we know for a fact that this timestamp is correct because we watched the complete livestream real-time during the event. Moreover Ruja Ignatova said the following when she was on stage, obviously referring to 04:30 PM local Bangkok time:
“So I have to ask now, what time is it, because at four-thirty we’re going to launch the new blockchain.
15 minutes to go, so 15 minutes to go until all your coins will double”.
- The first Block, the “genesis” Block with sequence number #0, has been created with timestamp 1 October 2016, 09:31:13 AM GMT/UTC.
- The genesis Block #0 contains one – and only one – Transaction with 1,986,580,000 ONE Output Amount sent to Output Address 9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5, a so-called “Unspent Transaction (TX) Output” or “UTXO” (see screenhots below). This is supposed to be the total number of OneCoins of all 2.5 million OneLife members, including the “coin doubling”.
- To transfer the Output of the genesis Block to the e-wallets of 2.5 million individual OneLife members, 2.5 million Transactions are required, each with a separate Output Address. None of these Transactions is visible on the Blockchain browser screens.
- Blocks #1 up to and including #16040 each contain one – and only one – so-called coinbase Transaction with 50,000 newly “mined” coins. Not a single Transaction is visible to distribute the 1.9 billion OneCoins created in the genesis Block to the e-wallets of individual OneLife members.
- In the second Transaction of Block #16041 the complete (Unspent) Transaction Output of the genesis Block is used as Transaction Input and two new Transaction Outputs are created (see screenshots below). In other words, the complete Transaction Output of the genesis Block is spent in this Transaction.
- Any Transaction Output can be spent only once. Because the complete Transaction Output of the genesis Block #0 is spent in a Transaction of Block #16041, it is NOT possible that in the background (“hidden”, not visible on the Blockchain browser screens) 2.5 million separate Transactions have been executed to transfer the OneCoins “mined” in the genesis Block to individual OneLife members, as this would imply illegal “double spends”.
- This all is irrefutable proof that the 1,9 billion OneCoins created in the genesis Block have no connection whatsoever with the OneCoins in the OneCoin Accounts of the 2.5 million OneLife members.
In other words: the genesis Block is completely fake.
In other words: the OneCoin Blockchain is completely fake.
In other words: OneCoin is not a cryptocurrency. There is only a Blockchain Simulator with fake Transactions which are visible on the Blockchain browser screens.
B. Detail analysis
We have checked the hypothesis that the OneCoin Blockchain browser only shows transactions related to “central OneCoin company e-wallets”, and that in the background (i.e. not visible on the BLOCKCHAIN and TRANSACTION screens of the Blockchain browser) the OneCoins are distributed to e-wallets of individual OneLife members via separate Transactions.
The most important Transaction to verify this hypothesis is the Transaction of genesis Block – Block height #0 (login required) which has 1,986,580,000 ONE Transaction OUTPUT Amount.
Screenshot of genesis Block #0 created on 1 October 2016 09:31:13 AM GMT/UTC
Screenshot of Transaction in genesis Block – Block height #0
The 1,986,580,000 ONE Output Amount is sent to Output Address 9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5, a so-called “Unspent Transaction (TX) Output” or “UTXO”.
According to OneLife News the impressive 2.5 million member mark was hit on 30 September 2016, one day before the “mining” of the genesis Block:
This Press Release implies that during the Mastermind Events on 1 October 2016 there were (at least) 2.5 million members with OneCoins in their account (the number of free “Rookie Accounts” without OneCoins has always been much higher). This means that 2.5 million Transactions would have been required to distribute the 1,986,580,000 ONE Unspent Transaction Output from Address 9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5 to 2.5 million Output Addresses connected to the e-wallets of individual members (i.e. if OneCoin would be a real cryptocurrency with a real Blockchain).
Remark: if the “coin migration from Blockchain Version 1” and the “coin doubling” are recorded as separate Transactions (which is the case in the OneCoin Account) two Transactions per Account are required, so 2 x 2.5 million = 5 million in total.
Of course these 1,986,580,000 ONE can be spent only once. “Double spending” would make the Blockchain invalid in any cryptocurrency, also in OneCoin’s Blockchain:
- “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.“
Screenshot of Block #1, i.e. the Block following genesis Block #0
Note: the Blocks #1 up to and including Block #16040 all are almost identical. They contain one – and only one – coinbase Transaction with 50,000 newly “mined” coins.
To check what happened with the 1.9 billion OneCoins “mined” in the genesis Block #0, we searched for string “9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5” (i.e. the Output Address of the Transaction in the genesis Block)) in our 615MB file with downloaded Block and Transaction data of period 1 October 2016 till 31 May 2017. We found this string twice:
- Obviously the first occurrence is in genesis Block #0.
- The second occurrence is in Block #16041 which has been created 11.5 days later, with timestamp 12/10/2016 21:14:59 GMT/UTC
On the TRANSACTIONS screenshot below the Address 9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5 is clearly recognizable as Transaction INPUT, see the second Transaction to the left of the arrow. To the right of the arrow we see two new UTXOs, Unspent Transaction OUTPUTs:
- 1,000,000 million ONE is sent to Output Address 9ZTji2SeQcs7NPwGEgsARm3W355sjBuHzr
- 1,985,580,000 ONE is sent to Output Address 9gZYr1K99chvfLRpuS33hsZLHVjqimYtdy
Total Transaction INPUT = Total Transaction OUTPUT (1,986,580,000 ONE), in other words the complete OUTPUT at Address 9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5 is spent and may not be used again (and may NOT have been spent at an earlier moment either).
FINDING: If the 1,986,580,000 ONE Output Amount of genesis Block #0 would have been distributed to 2.5 million individual e-wallets of OneLife members on 1 October 2016 already, IT WOULD NOT BE POSSIBLE TO SEND THE SAME TRANSACTION OUTPUTS TO OTHER OUTPUT ADDRESSES 11 DAYS LATER, THIS WOULD BE A STRICTLY ILLEGAL “DOUBLE SPEND”.
It would be irrefutable proof of fraud, duplicity and forgery, which according to the information on onecoin.eu/en/blockchain is impossible in the OneCoin Blockchain.
Transactions in OneCoin Account
All Block and Transactions screenshots above are part of the Blockchain Simulator, i.e. the red zone in the System Architecture diagram on the OneCoin Blockchain Simulator page.
The screenshot below shows the OneCoin Transactions in the OneCoin Account, which are part of the green zone in the System Architecture diagram.
Screenshot of first two OneCoin transactions in OneCoin Account on 1 October 2016
This is the old screen layout which shows Dates and Timestamps, the new layout which was implemented on 5 December 2016 only shows Dates. Note the Date/Timestamps 01/10/2016 00:00:01 and 00:00:02 AM GMT/UTC.
This is hard proof that these transactions were registered in the OneCoin Account with a Date/Timestamp 9.5 hours before Ruja Ignatova presented the new Blockchain Simulator during the OneLife MasterMind Event in Bangkok. This OneCoin Account, including its Transactions, is unrelated to the Blockchain Simulator.
Remark: those who want to accuse us of falsifying the Date/Timestamps in the screenshot above, first check these YouTube videos uploaded by OneLife members:
- The internal consistency of the Block and Transaction data in the OneCoin Blockchain Simulator, which are visible on the BLOCKCHAIN and TRANSACTION screens, and which do not show any “double spends” of Transaction OUTPUTs (which is a good, “realistic” characteristic of the OneCoin Blockchain Simulator)
- The fact that genesis Block #0 contains one (and only one) Transaction with 1,986,580,000 ONE Output Amount sent to Output Address 9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5 (an UTXO / Unspent Transaction OUTPUT)
- The fact that Block #16041 contains a Transaction in which the complete UTXO of 1,986,580,000 ONE connected to Address 9UHVMKSB8xdgzjY5X82gC5An4NiupfiUE5 of genesis Block #0 has been spent completely and sent to two other Addresses (i.e. this Transaction created two new UTXOs)
- The proof that the “New blockchain coins migration” and “Doubled coins following blockchain migration” Transactions are recorded in the OneLife member OneCoin Accounts with Date/Timestamps 01/10/2016 00:00:01 and 00:00:02 GMT/UTC, i.e. 9.5 hours before the launch of the new Blockchain Simulator
we reject the hypothesis that on 1 October 2016 2.5 million “hidden” Transactions (i.e. invisible on the BLOCKCHAIN screens of the Blockchain browser), have been recorded in the Blockchain.
This all is irrefutable proof that the genesis Block, and therefore also the complete OneCoin Blockchain, is completely fake. OneCoin is NOT a cryptocurrency, there is only a Blockchain Simulator. The OneCoins in the OneCoin Accounts and CoinSafe Accounts of OneLife members (which are completely separated from the OneCoins visible on the Blockchain browser screens), are nothing more than “Loyalty Points”.
Remark: the fact that the OneCoins in the OneCoin Account and CoinSafe Account can be transferred to OneLife members in the direct Upline or Downline, and that they can be used to pay for products and services on the Dealshaker platform in no way proves the existence of a real Blockchain. This only proves that the OneCoin “Loyalty Points” can be exchanged between OneLife members.
Repeated redistribution of OneCoins “mined” in genesis Block #0
Some other interesting findings, based on the downloaded Block and Transaction data:
- The 1,985,580,000 ONE Unspent Transaction OUTPUT sent to Address 9gZYr1K99chvfLRpuS33hsZLHVjqimYtdy in the second Transaction of Block #16041 is used as Transaction INPUT in one of the 66 Transactions in Block #20519 with Date/Timestamp 16 October 2016 01:54:53. i.e. four days later (see the first Transaction in the screenshot below).
In Block #20640 the 1,985,579,527.77777767 ONE sent to Address 9bra5qH8C1nPChQX7HjMxibd3kgH6YMVHs on its turn is used as Input in another Transaction, which creates two new Unspent Transaction OUTPUTs.
- And so on and so forth. In other words, the Transaction Output of the genesis Block #0 is redistributed over and over to Addresses which have no connection with the OneCoins in the OneCoin Accounts and CoinSafe Accounts of OneLife members.