OneCoin May Have Used Fake Reviews in Ponzi Scheme – Is Anyone Surprised?

2020-1-29 21:44

The cryptocurrency project launched by OneCoin which was accused of being a Ponzi scheme by authorities may have used fake reviews on Quora and TrustPilot.

The Digital Forensic Research Lab (DFRLab) said in a blog post from Wednesday that the OneCoin campaign was initiated at the same time as its founder’s (Ruja Ignatova) disappearance, after she has had many legal cases brought upon her.

In March 2019, a supposed leaders at OneCoin was arrested for perpetuating a pyramid scheme. At the same time, Ignatova was charged with money laundering, and wire and securities fraud. Lawyer Mark Scott was found guilty of money laundering as well.

OneCoin Reviewed with 5 Stars Many Times in October

Researchers at DFRLab discovered that in October 2019, OneCoin received many 5-star reviews on TrustPilot. Here’s what’s written in the research lab’s blog post:

“Of the 579 reviews for OneCoin on the site, 90 percent were positive. Of the five star ratings, about 400 were published within the span of a single month.”

The researchers also say the bad reviews were practically hidden by the 5-star ones.

The Authenticity of TrustPilot Reviews Can’t Be Determined But…

The DFRLab team couldn’t prove that the reviews aren’t authentic, as the TrustPilot’s interface doesn’t allow to make such a determination. However, the influx of good reviews is abnormal and came at the same time as OneCoin was going through some serious legal problems.

However, when the answered about OneCoin from Quora have been analyzed, there were clear signs of inauthenticity, as the profiles that left answers don’t have pictures, nor bios, and they all have revealed an interest only in OneCoin-focused discussions. The respondents claimed they were experts in the cryptocurrency field, but their answers were restricted to OneCoin’s value and viability. This is what the DFRLab blog post concludes:

“While there was no direct evidence tying these inauthentic profiles and reviews to OneCoin employees or evidence of automated activity on either platform, the profiles and favorable reviews nonetheless served to boost trust for the OneCoin brand as it faced a multibillion-dollar scandal.”

Searches on social media for the names of the respondents turned back no matching results.

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Co-Founder of OneCoin Pyramid Scheme Pleads Guilty; ‘CryptoQueen’ Still Wanted

One of the founders behind OneCoin pleaded guilty to federal U.S. charges on Friday after one of the largest financial scams of all time, according to the Department of Justice. The purported cryptocurrency project was fraudulent from its 2014 beginnings, prosecutors said, with OneCoin – co-founded by Karl Greenwood – setting up a pyramid scheme to market it to millions of people, generating as much as $4 billion in revenue.

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‘Bitcoin Killer’ Onecoin Is Ashes But Investigations Continue to This Day

Back in 2014, a group led by a woman named Ruja Ignatova created a Ponzi scheme called Onecoin which, together with the organization Onelife, defrauded billions from 3 million people. At peak popularity, the group declared that Onecoin would be a “Bitcoin killer” but the pyramid scheme is now in ashes and many of its […] The post ‘Bitcoin Killer’ Onecoin Is Ashes But Investigations Continue to This Day appeared first on Bitcoin News.

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There has been a fair bit of talk regarding Onecoin over the past few years. This notorious MLM scheme is widely considered to be a scam, even though its investors will gladly claim otherwise. To make things even more interesting, there is a Onecoin ICO taking place, even though this does not appear to be […] The post The Onecoin ICO Doesn’t Appear to be Affilaited With Onecoin appeared first on NullTX.

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