GDPR Compliance Rules Expose OneCoin’s Blockchain Ponzi Scheme
In May, the GDPR rules started to make effect in the European Union and to all those users and citizens living in the continent. And indeed, implementing these rules has been annoying for some companies, but also positive in some aspects.
The Blockchain developer Bjorn Bjercke, said in the past that OneCoin was using SQL database script to generate coins. As a Chief Technology Officer at Asenshia, Bjercke had to create a blockchain for OneCoin, which at the moment did not have.
But OneCOin claimed that it had a blockchain since it was created in 2014, so that raised the question about what the company has been using during the last years instead of Distributed Ledger Technology (DLT).
According to Bjercke, the coin has been using a MS SQL or could be Oracle DB. But the latest option was almost discarded due to the fact that it was too expensive for the organization, which had no credible CTO.
Instead of helping a Ponzi Scheme that was going to keep defrauding investors, Bjercke decided to help the community by telling the truth about the project.
He commented about this situation.
“In my opinion Onecoin is like a cancer to the cryptocurrency community. Cannot give up [sic], I cannot hide the truth, I cannot stay quiet about OneCoin / OneLife being a SCAM.”
But the company claimed that they did not offer a position to Bjercke and that he has never been asked to build a blockchain for OneCoin. In this way, the founders of OneCoin explained that any claims related to work offers and salaries are totally ‘false and untrue.’
After this situation, OneCoin threatened to sue Bjercke for his statements, unless he would publicly apologize and withdraw them. But, this never happened, and OneCoin did not sue him.
But this story has an interesting twist related with the General Data Protection Regulation (GDPR). So as to be GDPR compliant, several companies had to send emails informing to their users how they were processing their data and storing it.
Asenshia snet Bjorn Bjercke a usual email about the rules related to the GDPR. And Bjercke decided to answer requesting an ‘updated profile’ that was able to provide concrete evidence that OneCOin lied about offering him a position.
Asenshia sent his resume to OneCoin for consideration of the position of Chief Technology Officer back in early 2017. OneCoin was lying about the position and for sure, everything else what the company claimed.
Because of GDPR rules, that have been very tedious for some companies, for other individuals and the crypto space is giving good results, like to Bjorn Bjercke.