uFun Club and OneCoin Review

uFun Club and OneCoin – Legit Product or Scam?

Welcome to my uFun Club and OneCoin review! In the past decade, Internet has observed considerable growth in its ability to facilitate electronic transactions, quite easily overtaking physical transactions through their ease and convenience. Ensured Safety, though, has not exactly been a hallmark feature of transactions through the Internet.

No, we are not talking about vulnerabilities, hacking or viruses. Rather, the veil of secrecy that internet provides to operating individuals and companies. It is almost impossible to be assured that the website you trust your funds with will not just disappear in an instant. Though unlikely, and the fact that there are multiple, trustable services offering relatively secure online transactions and money-keeping, may have you thinking that such happening to you is impossible, but before you stamp that decision, let us introduce to you uFun Club and OneCoin.

uFun Club and OneCoin Background and Schemes

uFun started in 2014, quite similarly to BitCoin, as a digital currency offered as uToken. The organization was based out of Singapore, with its focus on regional countries Indonesia, Malaysia and Thailand. Anticipations for the brand were high, especially considering the recent, enormous success of BitCoin where investors made thousands if not millions of dollars in profit. Quite unlike BitCoin, uToken had a number of attractive security features that its older competitor lacked.

It was the fact that the supposed authenticity of uToken was further reinforced by its sustained reserve of Ten Million US Dollars in the United Development Bank of Pacific and the stamp-of-approval from a top-notch Insurance company, NICO Holdings, led eager investors pouring on their hard-earned money into the new company.

An alternative service complimented the launch of uToken, namely OneCoin. The OneCoin service was meant for transacting in the physical word, an all-in-one replacement for credit and debit cards. However, OneCoin was mired by its relativeness cheapness, and not in the good way. The card’s quality was subpar, especially against prime card issuers, the printing was poor and it was poorly secured. If the OneCoin website goes down – all your money goes down along with it.

uFUN even had its very own online store – though a very poor imitation of eBay and Amazon, it hosted no genuine branded products, and instead images of merchandise offered on its website were blurry, low-quality copied images. Surprisingly enough, it worked, but only for as long as uFun itself lasted, which was not too long.

Investors expected another BitCoin fiasco, they wanted to make thousands of dollars in profit by jumping on early when uToken’s value was still at its infancy, intending to sell their uTokens later once they become more valuable. It certainly worked to an extent, a few months later following investigations concerning uFun’s operations, Authorities revealed to public that uFun was actually a fraud scheme, it had been paying off its older investors with money from new investors, while keeping a share of money to themselves. Arrests were made in Thailand, and the company went under covers.

Our uFun Club and OneCoin Verdict

Following the arrests by Thai Authorities, Investigations sprouted over ten countries, uFun had defrauded the global market with millions of dollars. A few months later, the company resurfaced to release an ‘update’ to its investors, claiming they had moved to a new platform uNascos and invited people to join so they could once again be robbed. Of course, that did not work as intended and the new website never went up. It became rather clear that uFun only operated on a short-term, high-return investment scheme meant to reward only by themselves and the lucky few who got on-board first. It is suggested that caution be kept whenever dealing with any investment related to uFun or any other fake schemes, unless of course you are eager to throw away your money.

So, as to the question whether uFun Club and OneCoin are legit or scam – they’re both scams!  Avoid these ponzi’s



Options Rider Review

Options Rider –Is It A Ponzi Scheme?

Welcome to my Options Rider review! In a highly advanced internet era, where all processes are finished within moments and precise information retrieved from a database holding millions of entries within mere microseconds, some poorly managed or just intently fraud companies continue to think that technical disturbances are feasible excuses to back up suspicious, and most likely fraudulent operations. This is where Options Rider comes in.

Options Rider Overview

Options Rider, a Binary Options trading company, allegedly based out of Auckland, New Zealand, retorted to the same measures, which in effect may be sufficient for confusing the innocent customers, but lack potential against professionals.

A statement released by the company, following its unexpected announcement of a temporary restriction on all new registration and deposit services. Quoted below is the actual statement.

“Due to the surge of new clients, we are temporarily closing new registrations and deposits into the system effective immediately. We will resume new registrations on the 5th of May”

This was done in effect to allow the company sufficient time for catching up with all the new account registrations. It becomes difficult to imagine the difficulty in managing the new registrations, given that all processing is done by machines themselves, unless Options Rider is actually an old-school basic HTML website with no functional code or databases, which seems to all the unlikely.

Options Rider Scheme

To further strain the level of suspicion on the company, Options Rider has apparently also lied about its status as a legal, government-regulated establishment. A clause inside its Client Agreement page claims that the company is a registered and regulated entity in the New Zealand Securities and Exchange Commission. It is critical to note that such an organization named ‘Securities and Exchange Commission’ simply does not exist as a government managed body inside the territories of the Realm of New Zealand.

The government body that does fulfil the function of financial regulations the Financial Markets Authority (FMA). Quoted below is the actual text from Options Rider’s Customer Agreement Page.

“The Company is authorized and regulated by the New Zealand Securities and Exchange Commission to offer certain Investment and Ancillary Services and Activities under the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and Other Related Matters Law of 2007, Law 144(I)/2007, as subsequently amended or replaced from time to time (“the Law”), with FSP license number FSP10980”.

Options Rider Verdict

Given solid proof behind allegation that the company is indeed partaking in fraud, it is recommended to exercise extreme caution whenever dealing with Options Rider – just like any other business ventures that exist in the market today. There are plenty of great, authentic binary Options trade companies offering their services on the market. It might be worth investing at companies that are more authentic rather than poorly managed platforms who actually have to close their registration services following a ‘registration surge’.

In the past few months, the industry has become plagued with plenty of these fake and fraudulent schemes. Options Rider appears to be a straight ponzi scheme.



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