Vietnamese Government Confirms OneCoin's "License" is a Fake

Vietnamese Government Confirms OneCoin’s “License” is a Fake


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It has been a while we heard anything from OneCoin. Sadly, it appears this massive Ponzi Scheme is still active right now. Thankfully,  they are getting a lot of heat from governments and law enforcement agencies. The latest report comes from the Government of Vietnam, who confirmed they did not grant OneCoin an official license. The Ponzi Scheme claims otherwise, but their statements are utterly fake, as is to be expected.

It is good to see the government of Vietnam acknowledges the OneCoin issues. Ponzi schemes claiming they have an official license to operate in the country need to be weeded out as soon as possible. OneCoin has been pulling the wool over people’s eyes for several years now. It is evident the government of Vietnam is not too happy about their false claims. In fact, it is likely an official investigation of  OneCoin will be launched in the near future.

The Net Closes Around OneCoin and its Scamming Practices

Earlier this month, OneCoin representatives organized an event in Vietnam. That is not against the law, even though this project is not legitimate. All they aim to do is defraud investors and take their money sooner or later. During the event, the representatives claimed how OneCoin received an official license to operate in Vietnam. Said license was issued by the Department of Management. As is was to be expected, these claims are fictitious, and will backfire in one way or another.

It did not take long for the local government to deny these wild claims. Several residents had inquired about this license and whether or not there was any truth to the story. OneCoin is not officially recognized anywhere in the world, and it is not a legitimate investment program. Instead, it is a pyramid scheme waiting to collapse sooner or later. Once that happens, millions of dollars will be lost, as they all disappeared into the OneCoin team’s pockets.

Even though OneCoin posted the documents online, they are clearly fake. In fact, the documents include forged signatures, which is absolutely despicable. The Vietnamese government aims to have the “license” pulled from the site. Moreover, it would be in their best interest to press legal action against this Ponzi scheme. Various other countries have launched similar investigations over the past few years. The unicorn will collapse sooner rather than later, that much is evident.

Header image courtesy of Shutterstock

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