BehindMLM reader “Ben” has been recording statistical data pertaining to OneCoin accounts for some time now.

Yesterday Ben shared an abnormality pertaining to OneCoin accounts in Bulgaria, in that during the month of September, the number of Bulgarian OneCoin accounts had been wiped to zero.

Now a reason has emerged potentially explaining why.

As per the
statistical data compiled by Ben
, OneCoin accounts in Bulgaria were on the rise until the week August 28th to September 4th.

That week saw a decline of twenty-four accounts, which was followed up by a decline of twenty-nine the next week.

The week beginning September 11th saw
seven hundred and eleven out of seven hundred and twelve accounts wiped.

Clearly either Bulgarian OneCoin investors or the company itself were panicking, but nobody seemed to know why.

Here’s one possible reason:

In September Bulgarian Financial Supervision Commission issued an investment warning for OneCoin.

Wrote the FSC on September 30th:

FSC are informing potential investors and consumers on the Internet that activities related to the acquisition, trading and payment
OneCoin
are not governed by existing EU and national legislation on capital markets.

At present
OneCoin
or other virtual currencies are not recognized and not treated as a financial instrument within the meaning of FIMA and compared them to the requirements of FIMA.

Potential investors and users should be aware that an investment in such “cryptocurrencies”, which already exceed 400 different varieties, poses a high risk.

In the event the owners of these opportunities files for bankruptcy, investors are not subject to compensation from the Compensation Fund.

Presumably the FSC’s warning comes after an investigation into OneCoin. And if OneCoin were made aware of the investigation, by way of data collection or enquiries by the FSC, that would explain why they nuked the Bulgarian investor accounts.

It also explains why OneCoin
stopped paying investors
around the first week of September, and why they might have recently changed banks.

Providing no explanation as to why, less than twenty-four hours ago OneCoin abruptly announced the banking change on their Facebook page.

Through their new bank, the location of which is not disclosed, OneCoin claim ‘
all withdrawals have been executed and processed and should be in (affiliate’s) bank accounts soon
‘.

Whether or not the FSC’s investigation prompted the change of bank is unclear. Ditto whether or not the FSC’s investigation is ongoing.

According to the FSC’s website,

The Financial Supervision Commission (FSC) was established on March 1st, 2003 under the Financial Supervision Commission Act.

It is an institution that is independent from the executive authority and reports its activity to the National Assembly of the Republic of Bulgaria.

The Commission is a specialized government body for regulation and control over different segments of the financial system – capital market, insurance

🤖 Quick Answer

What regulatory action did Bulgaria's financial regulator take regarding OneCoin?
Bulgaria's financial services regulator issued an official warning about OneCoin, prompting a significant response from the investor community. The warning coincided with a dramatic decline in OneCoin accounts in the country during September, with statistical data showing nearly complete account closure in a single week.

Why did OneCoin accounts in Bulgaria experience sudden mass closures?
OneCoin accounts in Bulgaria were rapidly closed following the FSC regulator's warning issued against the cryptocurrency scheme. Statistical analysis revealed a decline beginning in late August, escalating dramatically in mid-September when over 711 accounts were closed within one week, indicating either investor panic or company-initiated account terminations.

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