Official OneCoin Statement
I. Withdrawal of Prosecution in an Important Pilot Process: No “Unfair Competition“ Conducted by OneCoin and its IMAs
Several times, different public prosecutor’s offices have made allegations with reference to the OneCoin business model and the activities of its IMAs based on the “unfair competition” accusation.
Based on this decision of fundamental significance, this accusation, earlier expressed by several German public prosecutor’s offices, concerning the violation of the subject regulation of § 16 UWG [Section 16 of the German Law Against Unfair Competition] by the OneCoin business model and the OneCoin companies, has been refuted to the fullest extent.
The now decided withdrawal of the proceedings was made in the context of a very significant procedure, where - based on a judicial order - a criminal search was carried out, as well.
OneCoin and the accused in the proceedings are now exploring the possibility of damage actions against the complainants.
The order for withdrawal of prosecution itself informs about the possibility of compensation for unfairly suffered prosecutions in accordance with the law that would be directed against the state. Thus, the accusation of a pyramid scheme of whatever nature or of unfair competition would no longer be sustainable – not even rudimentarily.
II. Concerning the Further Procedures, Particularly: The Existence of the Blockchain
OneCoin vehemently opposes the repeatedly raised allegation on the non-existence of the blockchain and of irregularities in the most forthright terms. Again and again, interested parties, competitors and even criminal prosecution authorities made empty accusations and speculations in this context. One central allegation of the anonymous authors of the 50-page pamphlet was that OneCoin does not have a blockchain but would rather simulate it.
Based on considerable effort comprising amongst others private opinions within the framework of the criminal proceeding, the criminal prosecution authorities tried to corroborate these doubts and speculations. Even after two year investigations underway, this happened without bringing any success.
Backed by a complex IT opinion that was commissioned by the public prosecutor’s office and realized in two subsequent parts over many months, added by an “Amendment” in 2018 these doubts were fully refuted. The “securing of the blockchain” resulted in the fact that the “lists of blocks” are in all respects “complete”, the “time sequence” is plausible, the overall number of the transactions is consistent and the values of the incoming transactions are logical, as well. In detail, the opinion states that the data “collected and secured” were subject to “a plausibility check”. Amongst others, the following results were found: “The list of blocks is complete. The hash of the succession block… matches the hash of the actual succession block in the data base. Analogously, this also applies to the hash of the previous block that matches the hash of the actual previous block in the data base. The time sequence of the blocks is logical, meaning that the time stamp of a block having the higher block height follows after the time stamp of each block having the lower block height.” Furthermore, the opinion determines” “The overall number of transactions listed in the table containing the blocks matches the actual, overall number of transactions listed in the table containing the transactions”; and: To every incoming transaction with an address a matching exit in the previous transaction can be allocated. Furthermore, the values of the transaction receipts are regarded to be plausible. This, again, confirms the blockchain characteristics regarding all features. OneCoin has been and remains convinced that the central system is superior under technical and security aspects.
OneCoin feels confident, that the revolution of the payment systems in the financial sector shall also be of importance for the freedom of each individual. It is therefore worth further continuing the ground-breaking idea of the crypto currency as being a benefit to the financial sector. This financial revolution is the vision of OneCoin. For a long time, the OneCoin-companies have been co-operating with the investigating authorities, providing detailed comments and doing everything legally possible to dispel the unfounded, false accusations.
The associated companies and national financial service providers are also doing everything legally possible for explaining as transparent as possible the complete legal conformity of its actions, entire business model and the adherence to all compliance rules.
OneCoin is continuing to actively pursue – now even more determined – the aim of establishing the first transparent, global crypto currency for everybody. It is about the vision of unlimited and reliable financial transactions – everywhere and for everybody. Moreover, OneCoin follows the concept of “One Ecosystem” and social projects for the environment and society (https://www.onecoin.eu/de/one-ecosystem), but in particular with reference to financial retraining and innovation (www.onecoin.eu).
The responsibility for the environment and the dissemination of knowledge about financial correlations is and remains a central concern of OneCoin and the philosophy of the OneCoin companies.
OneCoin Legal Department
See also / One Coin World