U.S. authorities are still on the hunt for Ruja Ignatova, also known as the “Cryptoqueen,” the founder of OneCoin, a cryptocurrency Ponzi scheme that defrauded investors of approximately $4 billion. Ignatova disappeared in 2017 after the U.S. government revealed her indictment in 2018. The State Department has now offered a reward of up to $5 million for any information leading to her capture or conviction, a significant increase from the previous $250,000 reward offered by the FBI.
The OneCoin scam operated between 2014 and 2017, with Ignatova and her accomplices luring investors with promises of high returns on their investments. However, it was later revealed that OneCoin was not backed by any blockchain technology or decentralized network. The State Department has labeled Ignatova’s scheme as one of the largest global fraud operations in history.
While Ignatova remains at large, several of her associates have been arrested and sentenced. Co-founder Karl Greenwood received a 20-year prison sentence for his involvement in the fraud, while two lawyers linked to OneCoin were handed minimum four-year prison terms.
The whereabouts of Ignatova are still a mystery, with speculations that she may have undergone plastic surgery to alter her appearance after fleeing to Athens. There were even reports from Bulgarian media suggesting that Ignatova met a violent end at the hands of a local crime lord named “Taki” on a yacht in 2018. However, these claims have not been substantiated, and Ignatova is believed to be evading capture.
Ignatova is facing charges in multiple countries, including Bulgaria, Germany, India, and the U.S., for various crimes such as wire fraud, money laundering, and securities fraud. In Bulgaria, authorities have decided to convict her in absentia for her role in the massive Ponzi scheme.
The search for the Cryptoqueen continues, with law enforcement agencies and authorities worldwide working to bring her to justice for her alleged crimes. Despite the passage of time, the case of Ruja Ignatova and OneCoin remains a cautionary tale of the risks associated with investing in unregulated cryptocurrency schemes. Investors are reminded to exercise caution and conduct thorough research before committing their funds to any investment opportunity, especially in the cryptocurrency space.