OneCoin Ponzi Point Test 2 – Transfer to OneLife member

A. Summary of Conclusions

  1. Transfers of OneCoins from an Upline IMA to a downline IMA are possible (with limitations on the amount per day). The transfers are registered immediately and are visible in the Transaction History of both OneCoin Accounts with exactly the same timestamp, initially with status “pending” and after a few minutes with status “approved”.
  2. Only four transactions with a total amount of 10 OneCoin were allowed on one day (sent from a OneCoin Account with a balance of 11,382 ONE).
  3. For none of the transferred OneCoins a Transaction is visible on the Blockchain screens, while the website states that the OneCoin Blockchain consists of every transaction ever performed in OneCoin, and that detailed information on each mined block and performed transactions is visible on the Blockchain screens.
  4. This is conclusive proof that the Blockchain info at the very least is incomplete and therefore invalid by definition (including OneCoin’s own definition).

B. Objective of this investigation

  • The author of this article has tried to execute an objective investigation.
  • None of the data on the screenshots have been manipulated. Only personal data on screenshots are hidden, for instance usernames have been replaced by “Upline” and “Downline”. Some comments and rectangular boxes have been added to highlight specific elements.
  • This page contains a mix of old and new screenshots. The original “old” screenshots were made on 30 November 2016, when this test was executed. On 28/29 December 2018 we checked all evidence and created new screenshots of Block and Transaction data, with up-to-date hyperlinks.
  • On 6 December 2016 with the introduction of the new layout of the backend a number of hyperlinks have changed. In the old screenshots the old hyperlinks are still visible.

The complete procedure is step by step reproducible by anybody with a OneLife account with OneCoins.

The aim of this analysis is to transfer OneCoins from the OneCoin Account of an “upline IMA” (Independent Marketing Associate) to the OneCoin Account of a “downline IMA”, to check the consistency and completeness of the transactions and other data which are visible in the Blockchain explorer on the OneLife backend website. The consistency with info presented by the company on the website was checked also.

Information supplied by the OneCoin company
As stated on the page “The OneCoin Blockchain Consists of Every Transaction Ever Performed in OneCoin”.

There is a relevant text underneath the animated GIF on the Blockchain page in the backend, see Analysis of OneCoin blockchain part 1 for a screenshot:

  • “[…] The blockchain is based on a pre-programmed mathematical algorithm which allows for finite amount of solutions to occur – also called mining. You can see detailed information on each mined block and performed transactions in the tables above.

C. Procedure
We used the following procedure during this analysis:

  1. Log in on an existing OneLife account which has a number of OneCoins in the OneCoin Account.
  2. On the Profile page, sign up a new member. The result of this is that the new Independent Marketing Associate (IMA) will be in the so-called “Downline”. This enables the “Upline” IMA to send OneCoins, Tokens and cash (Euros) to the account of the Downline IMA.
  3. On a separate computer, log in on the account of the Downline IMA.
  4. From the OneCoin Account of the Upline, send OneCoins to the Downline, a number of times in a row.
  5. Check on both OneCoin Accounts if the transactions are executed and on which timestamps they are approved.
  6. Check on the Cryptocurrency Blockchain and Mining pages which transactions are visible. Four transactions must be present if all transfers are approved.

D. Fact Finding and Analysis – with screenshots
The process of sending OneCoins started on Wednesday 30 November 2016, 17:38 GMT/UTC. The entire process, including checking Transaction data and creating screenshots, took about 30 minutes.

These are screenshots of both accounts at the start of the procedure and the first transfer of 1 OneCoin to the Downline account.

Upline OneCoin Account (old layout)

Downline OneCoin Account

First transfer of 1 OneCoin

Warning message – after transfer of OneCoins the sale of OneCoins is not allowed during the same day

“Your request was successfully processed” message

The sequence of the number of OneCoins sent to the Downline was 1, 2, 3, 4 OneCoin respectively. We refreshed both OneCoin Account pages several times immediately after each transfer. We also followed the sequence of Transactions that were visible on the Blockchain and Mining pages.

The following Observations were made:

  1. All transfers were immediately visible in the Transaction History of both OneCoin Accounts with status “pending” and exactly the same timestamp.
  2. After several minutes the status changed from “pending” into “approved”. The “Date” timestamp did not change.
  3. All four Transactions of 1, 2, 3 and 4 OneCoins respectively were executed and got status “approved”.
  4. The fifth transaction for 5 OneCoin was refused with an error message “Max limit per day reached!”.
  5. None of the four executed transactions is visible on the Blockchain and Mining pages.
  6. A relevant finding we discovered during our analysis of the Blockchain and Transaction data which are visible, is that the NUMBER OF TRANSACTIONS shown on the BLOCKCHAIN page is consistent with the number of transactions of which detailed data are visible on the BLOCKCHAIN and MINING pages. In other words, these pages pretend to show all Transaction data (not just a random selection as some OneCoin promoters claim).

OneCoin Account Upline – status “pending” after transfer 1:

OneCoin Account Downline – status “pending” after transfer 1:

OneCoin Account Upline – status “approved” after transfer 1:

OneCoin Account Downline – status “approved” after transfer 1:

OneCoin Account Upline – status “approved” and “pending” after transfer 4:

OneCoin Account Downline – status “approved” after transfer 4:

Dashboard of Downline shows a total of 10 OneCoins:

Blockchain and Transaction data
We show some examples of the data we checked on the Blockchain screens.

Blockchain page with Transactions (old layout)
The Transaction data (within the yellow rectangular) are refreshed automatically. A new Transaction appears in the top row, the Transaction in the bottom row disappears.

Mining page with Transactions

Because it is virtually impossible to prove that something has not been visible, just by showing screenshots, we saved and uploaded this file as proof of Observation 5: Block-84513-84542
This file contains all Block and Transaction data in the OneCoin “Blockchain” that were created on 30/11/2016 between timestamps 17:35:18 and 18:05:28. The file is in plain text format and can be opened with each text editor.

If the transfers of OneCoin would be registered in the Blockchain, Transactions with an amount of 1.00000000, 2.00000000. 3.00000000 and 4.00000000 should be present in this file, because these Transfers were executed within the time range covered by this file. However, none of these transactions is visible.

Hyperlinks to the first 10 Blocks generated during this test (login required)
You can click the next block (s) hyperlinks to browse to the data. Note that none of the OneCoin transfer Transaction described above is visible on these Blockchain pages.
Block 84515 timestamp 30/11/2016 17:37:22 GMT/UTC
Block 84516 timestamp 30/11/2016 17:38:22 GMT/UTC
Block 84517 timestamp 30/11/2016 17:39:24 GMT/UTC
Block 84518 timestamp 30/11/2016 17:40:29 GMT/UTC
Block 84519 timestamp 30/11/2016 17:41:32 GMT/UTC
Block 84520 timestamp 30/11/2016 17:42:32 GMT/UTC
Block 84521 timestamp 30/11/2016 17:43:30 GMT/UTC
Block 84522 timestamp 30/11/2016 17:44:31 GMT/UTC
Block 84523 timestamp 30/11/2016 17:45:37 GMT/UTC
Block 84524 timestamp 30/11/2016 17:46:40 GMT/UTC

Screenshot of general data and first four Transactions of Block 84515 timestamp 30/11/2016 17:37:22 GMT/UTC