uFun Club and OneCoin Review

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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

 

 

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