OneLink, a cryptocurrency investment scheme that launched last month might seem like a copycat of notorious crypto scam OneCoin…but that’s because it is. The similarities range from the design of the scheme, including the promise of a crypto-utopia and the pyramid scheme-style sales structure, to the obvious rip off of the name. But we shouldn’t be surprised – the scheme’s front man is former OneCoin Master Distributor Simon Le.
Le Learnt From the Best
According to MLM exposé site Behind MLM, Le, whose real name is Le Quoc-Hung, claims to have thought up the idea for OneLink while working for OneCoin, which he is thought to have joined at the project’s inception in 2014. Le supposedly rose through OneCoin’s sales ranks to become a Master Distributor in 2018, by which point he would have had an extremely clear idea of the power of such scams and the wealth they can bring in.
OneCoin has slowly unraveled since 2018, although according to Behind MLM Le was still promoting the scam up until December 2019, three months before OneLink’s website was registered, with Le resigning just last month to take the reins at OneLink.
No Product, No Service, No Blockchain
OneLink follows the same pattern as OneCoin – it offers no specific services or products in return for investment, but still manages to promise a kind of digital revolution, with OneSchool, OneTrading, and OneEntertainment platforms among others supposedly developed to usher in this revolution.
Another similarity is the fact that the salespeople are the only ones making any money off the venture – OLX tokens are sold to investors in packages, exactly like with OneCoin, with the usual pyramid-style flow of money meaning that those in charge of groups of salespeople make the most.
As with any pyramid scheme, incentives are offered to those who move up the sales ranks, with the rewards ranging from cash bonuses to gold Rolex watches. This fact alone should be enough to make anyone even considering buying a token package to run a mile, but unfortunately there are still people naïve enough to either ignore the negativity or not bother to conduct any research first.
OneCoin proved that the world was ready for the first great crypto scam, and OneLink proves that the train still has steam.
