The news came in from Mumbai where 18 affiliates organized a seminar on One Coin and got arrested by police. The police arrested the 18 organizers on the charge of allegedly organizing events on Ponzi schemes and collecting money from investor with a promise of high returns. The amount was collected in cash and no receipts were given against it.
One Coin is a Cryptocurrency which is already facing huge criticism across the globe. It has lost it’s reputation of being a cryptocurrency and earned a titile of Ponzi Scheme.
The organizers were luring investors for high returns if they invest in One Coin. The explained that One Coin is a digital currency and if the investors invests in One Coin, they acquire it and can later sell it when the price will rise. Apart form this, an investor can also earn by introducing new investors to the scheme and will earn referral income which generally happens in any Multi-Level-Marketing schemes.
One coin is already facing huge allegations of being a scam and now people are averting it. Recently another news came in from Germany where the partner firm of One Coin for collecting investments was banned. Click here to read the article.
Get latest news/updates on Blockchain Technology, Bitcoins and other Crypto Currencies at KryptoMoney.com