- A transfer of Onecoins from an Upline IMA to a downline IMA is possible. The transfer is registered immediately and is visible in the TRANSACTION HISTORY of the Onecoin Account, initially with status "pending" and after more than 3.5 minutes with status "approved".
- The Transaction is not visible on the BLOCKCHAIN screens, while the website states that detailed information on each mined block and performed transactions is visible.
- This is conclusive proof that Transfers of Onecoins to a downline IMA are not recorded in the "Blockchain" and hence that the Blockchain is simulation software.
- This is new conclusive proof that OneCoin Founder Dr. Ruja Ignatova lied when she said that all transactions that are done by OneCoin members are visible in the Blockchain.
- More than 8 hours after the execution of the Transfer process it was still possible to retrieve the Block and Transaction data which were visible in the video. This is proof that the Blockchain simulator data are recorded in a database.
A. Objective and Procedure
DISCLAIMER: the authors of this article have tried to execute an objective investigation. None of the data have been manipulated, only some personal data on screenshots are hidden.
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 www.onecoin.eu web page and statements made by OneCoin Founder Dr. Ruja Ignatova was checked also.
Information supplied by the OneCoin company
As stated on the https://www.onecoin.eu/en/blockchain page "The OneCoin Blockchain Consists of Every Transaction Ever Performed in OneCoin".
The Frequently Asked Questions page contains the following info about the Blockchain:
- At OneCoin, we are able to execute your transactions in a minute thanks to the powerful blockchain – a technological innovation that stores cryptocurrencies. The OneCoin blockchain is based on protocols that authenticate, validate and store information in consistent, unbroken sequences. This guarantees that the system is safer by reducing fraud, duplicity and forgery.
There is a relevant text underneath the animated GIF on the Blockchain page in the onelife.eu backend, also visible in the video:
- "[...] 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."
Hyperlink for video on YouTube: Proof: Onecoin Transactions are NOT recorded in the blockchain
Screenshot of video with two screen of the onelife.eu backoffice:
- Left side: SEND ONECOIN TO DOWNLINE, timestamp 0 minutes, 22 seconds, immediately after Sending the Transaction password, which triggers the Transfer process of 3 OneCoins.
- Right side: CRYPTOCURRENCY / BLOCKCHAIN page: on this screen the LATEST TRANSACTION and LATEST BLOCKS data are refreshed automatically. Detail Block and Transaction data are visible on separate screens also. Further down in this article you can find a number of screenshots of those screens.
We used the following procedure during this analysis:
- Log in on an existing OneLife account which has a number of Onecoins in the Onecoin Account, and which has a Downline IMA in its COMMUNITY.
- From the Onecoin Account of the Upline, send 3 OneCoins to the Downline.
- Check in the Onecoin Account if the Transaction is executed and on which timestamp it is approved.
- Check on the Cryptocurrency Blockchain pages which Transactions are visible. If the Blockchain is valid (and complete) at least one Transaction for 3 OneCoins must be visible within a few minutes.
In the words of Dr. Ruja Ignatova:
"We decided to make it a very fast blockchain, so it runs every minute, in average this means that every 30 seconds your transaction gets approved".
Hyperlink and Description of video on YouTube: Proof: Onecoin Transactions are NOT recorded in the blockchain
B. Fact Finding and Analysis
The process of sending OneCoins started on Wednesday 22 February around 08:45 AM GMT/UTC. The entire process, as recorded on the video, took about nine minutes. The hyperlink of the first recorded Block #200167 (login required) was saved to enable further analysis of the data.
On the same day about 8 hours later screenshots of the OneCoin account and the Blockchain pages were made.
During the transfer process the following Observations were made:
- The transfer of 3 OneCoins was immediately visible in the Transaction History of the OneCoin Account, with status "pending". At that moment the latest "mined" Block was #200167.
Video Timestamp: 0 minutes, 20 seconds.
- It took 3 minutes and 40 seconds until the status changed from "pending" into "approved". At that moment Block #200170 was the latest "mined" Block.
Video Timestamp: 4 minutes, 2 seconds.
- We waited four more minutes until Block #200175 was mined.
Video Timestamp: 8 minutes, 22 seconds.
- During the complete procedure the Transaction of 3 OneCoins was NOT visible on the LATEST TRANSACTION screen.
- Afterwards we checked all Transactions from Block #200167 up to and including Block #200175 and made screenshots. On none of these screenshots the Transaction of 3 OneCoins is visible.
Sub 2 - Status of Transaction changes from "pending" into "approved":
Sub 3 - Block #200175 is mined:
Sub 5 - Screenshots of transactions of Block #200167 up to and including Block #200175
Table with Block and Transaction data:
|85c72ad67784af402278a0e50996bee05f16f5747a98692ed95df94dc367daa2||200167||22/02/2017 08:45:49||4||56 964.30049910 ONE|
|6d81d57f10cb97a4445630a27c928cd1a3d5f427944368321f21d5b02b9e96d1||200168||22/02/2017 08:46:50||2||61 375.28107599 ONE|
|4b3f5efeca2b12245cbbc49cd49ab04164b1bc8b831282870a995b8e5569cc81||200169||22/02/2017 08:47:49||3||54 242.96689828 ONE|
|ca8031a600b8992f71607787b49f645543c93676c3c664e0cdd03176b36782fe||200170||22/02/2017 08:48:45||2||50 775.71132936 ONE|
|788297aece1bfb4c76e442a7c143dbcfe006cceca5244de0f91226857c681798||200171||22/02/2017 08:49:57||3||61 178.45582591 ONE|
|157423f2e82840d66a9e7aad8ac8239a575d1d1dab23ac0ab7599a75af9d70d7||200172||22/02/2017 08:50:57||2||62 860.61286244 ONE|
|44df6e03891db69111bb512ae3f024f59dd8fcdf1f04ac7da76d193a786cd48f||200173||22/02/2017 08:51:59||1||50 000.00000000 ONE|
|e5c9486b5fd2596012f1a3ef91126e732f7c112b30d681d653a7877c1b2ae764||200174||22/02/2017 08:52:56||3||53 947.66892718 ONE|
|5760609faa1195b479190ed5f09d66772dfc65f6517682d1b7e826b257b48592||200175||22/02/2017 08:53:57||2||54 138.17228525 ONE|