Legal Issues

"CryptoQueen" Scammed Investors Out of $4 Billion, Added to FBI's 10 Most Wanted List

1/23/2023

Ruja Ignatova, once known as the "CryptoQueen," has been added to the FBI's 10 Most Wanted list after scamming investors out of $4 billion.

In 2016, Ignatova's company, OneCoin, was one of the darlings of the emerging cryptocurrency industry. A rival of Bitcoin, Igantova once said, "In two years, nobody will speak about Bitcoin anymore."

According to a CNN report, however, sixteen months after making that proclamation, Ignatova took a flight to Sofia, Bulgaria and has not been heard from again in the ensuing half decade.

Credit: Ignatiev/Getty Images

Authorities in the United States are chomping at the bit to find the elusive woman, stating that OneCoin was nothing more than a pyramid scheme that defrauded unknowing investors out of over $4 billion in total.

In fact, per CNN's report, federal prosecutors consider OneCoin to be among the "largest international fraud schemes ever perpetrated."

Last month, U.S. Attorney Damian Williams said, “OneCoins were entirely worthless … (Their) lies were designed with one goal, to get everyday people all over the world to part with their hard-earned money.”

This is a far cry from the "Bitcoin killer" Ignatova promised.

Ignatova is currently the only woman on the 10 Most Wanted list, and one of only 11 women since the list launched in 1950 under J. Edgar Hoover.

At the bottom of her Most Wanted poster is a note reading, “Ignatova is believed to travel with armed guards and/or associates. Ignatova may have had plastic surgery or otherwise altered her appearance.”

Credit: FBI Free Public Download

In an official statement, FBI Assistant Director-in-Charge William Sweeney Jr. said, “As we allege, OneCoin was a cryptocurrency existing only in the minds of its creators and their co-conspirators. Unlike authentic cryptocurrencies, which maintain records of their investors’ transaction history, OneCoin had no real value. It offered investors no method of tracing their money, and it could not be used to purchase anything."

Sweeney Jr. went on to note that only the founders of the brand and their co-conspirators benefitted financially in any way.

Credit: D3sign/Getty Images

If you believe you may have been a victim in this case or have any information regarding the whereabouts of Igantova, federal authorities request that you contact the United States Attorney’s Office at 866-874-8900, or by email at [email protected].

What do you think about the OneCoin scam?

Rebekah Barton

Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.

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