OneCoin Ponzi Scam Allegedly Resurfaces as OneLink With Ties to Simon Le
An infamous ponzi scheme has allegedly resurfaced under a new name, and is now operated by a prominent top earner in the company. The new entity is called OneLink and is a clone of the OneCoin ponzi scheme that The Times has described as “one of the biggest scams in history” as it brought in an approximate $4 billion worldwide.
OneCoin’s collapse led to the prosecution of 98 people across the globe, although its founder, Ruja Ignatova managed to evade authorities and made off with 500 million euros of laundered funds. She remains at large since 2017.
OneLink is OneCoin's spiritual successor and copycat clone, run by former OneCoin “captain” Simon Le (real name Le Quoc-Hung). The new company reportedly surfaced on March 5th, 2020 under the domain “onelinknetwork.” Although he does not appear on the website, screenshots of a video presentation made by Le were posted by behindmlm.com that ties him to the new company.
Le has a sordid history with OneCoin and is believed to have joined the company during its inception. As a Vietnamese national, Le made most of his money by luring numerous victims in Vietnam into the organization, which quickly promoted him to the upper echelons of OnecCoin. He is alleged to have continued to promote the scheme even after the company’s Sofia offices were raided by Bulgarian police in 2018.
How much Le managed to steal from victims is unknown. He is reportedly hiding out in either Vietnam or Dubai – neither of which have extradition treaties in the US to face punishment for his involvement in OneCoin.
How OneLink works is as follows. The company offers no products or services, but people can promote OneLink’s affiliate program to others in order to earn commissions. The scheme has numerous aspects to its total compensation plan, which rely on recruiting others to fill an affiliate’s “downline.” Affiliates earn a recruitment commission of 10 percent as well as a residual commission via a binary compensation structure. A further matching bonus can be earned from an affiliate’s downline.
OneLink offers additional perks as part of being a top earner of the ponzi. People can reportedly earn a Rolex watch, a gold Rolex watch, or a ‘special reward’ for reaching the illustrious ‘Crown Diamond’ status inside the organization. Membership prices for OneLink start from $40 in USDT and can range up to $5,000 depending how much one is willing to invest.
The new ponzi directly copies OneCoin in many aspects from its compensation structure to the ‘services’ that are provided to affiliates. Most of the features have simply been renamed or rebranded under OneLink, such as its education package, e-commerce platform, trading platform, and charity scheme.
As a further stab in the back to the original OneCoin victims, Le offers them an “exclusive program” in exchange for being part of his new organization. Participants can redeem their old accounts for points in the new ponzi – but only if they first hand over more money to Li for the privilege.
A final remainent of OneCoin can be found in the new platform’s return projections, which was a core recruiting tactic of getting new people in the scam. Just as with the former, OneLink gives wholly unrealistic and made up numbers under its ‘OLX Internal Value Roadmap’ for how quickly the ponzi will grow in size before it either implodes or is shut down by authorities.