Vietnamese Authorities Crack Down on OneCoin’s Fraudulent Claims

A Strong Stance Against OneCoin

In a dramatic turn of events, the Vietnamese government has firmly opposed OneCoin, a cryptocurrency company that recently made headlines for falsely claiming it was licensed to operate within the country. This bold statement came after the company hosted an event indicating that it had received official licensure. Spoiler alert: it didn’t!

Event That Raised Eyebrows

OneCoin organized a promotional event in Vietnam, leaving many puzzled when the company suggested that they had received governmental approval to proceed with their operations. If only they had learned the old adage, “With great power comes great responsibility.” Instead, they decided to just forge some documents and throw a party.

Licensure Investigation Unfolds

Following the event, Vietnamese authorities launched a thorough investigation to clarify the status of OneCoin. They soon uncovered that the so-called license was forged, evidenced by a signature that didn’t match that of the relevant government official. It’s almost like the forgers didn’t know that Department of Planning and Investment has a thing called “signature verification.” Who would have guessed?

Public Outcry Ignites

As the news of the fraudulent claims spread, the Ministry of Planning and Investment began receiving a flood of inquiries from concerned citizens. The situation escalated when OneCoin’s Vietnam arm posted an alleged confirmation document from the Hanoi Investment Management Department on its now-defunct OneLife Vietnam website. The document stated that the “ONECOIN electronic money business” was lawful. In reality, this was just as real as unicorns in the Hanoi skyline.

OneCoin: A Repeat Offender?

This is not the first time OneCoin has faced scrutiny; similar concern was recently raised in Norway, showcasing a worrying trend of their Ponzi scheme tactics across different countries. OneCoin joins the ranks of other infamous coin-based frauds, including the now-defunct Ecoin Plus. Investors beware: the promise of easy money usually comes with a twist—the twist being your money disappears faster than you can say “blockchain!”