Is OneCoin permissible?

What is the ruling on OneCoin? Is it permissible?

This detailed research paper compiled by M. Suhail Patel attempts to determine whether it is permissible to participate in the OneCoin scheme by investigating:

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TrafficMonsoon Scheme

بسم الله الرحمن الرحیم

A few months ago, I was contacted regarding the ACN investment scheme. At the time, my advice was to stay away from such lucrative pyramid (also known as MLM) schemes and instead focus on earning a Ḥalāl income. Several colleagues contacted me at the time attempting to persuade me that ACN is a legitimate and Halal investment scheme. However, they failed to provide some basic answers regarding the existence of the company and were unable to substantiate its credibility. This is in addition to the fact that certain terms were not compatible with Islamic rules as highlighted by several respected scholars.

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