FBI announced $100 000 reward for information about the founder of the OneCoin scam

Representatives of the bureau noted that Ruja Ignatova was accused of conspiracy to commit fraud and money laundering, as well as the theft of $4 billion

01.07.2022 - 16:05

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What’s new? The US Federal Bureau of Investigation (FBI) has announced a $100 000 reward for any information about OneCoin scam project founder Ruja Ignatova. According to law enforcement officials, she is accused of conspiracy to commit fraud and money laundering, as well as the theft of $4 billion. Ignatova is also one of the FBI's top 10 most wanted fugitives.

Information on FBI's website

How did events develop? Ruja Ignatova and her accomplices created the OneCoin project in 2014, calling it a competitor to bitcoin. However, the FBI alleges that between 2014 and 2017, Ignatova defrauded investors and stole about $4 billion worth of their investments.

Taking advantage of the hype surrounding the cryptocurrency market, Ignatova was able to sell investors the idea of a private blockchain through multilevel marketing (MLM), the bureau noted. In addition, the price of OneCoin was not set by market mechanisms, but by the decision of the project creators themselves. FBI Special Agent Ronald Shimko noted:

“OneCoin claimed to have a private blockchain. This is in contrast to other virtual currencies, which have a decentralized and public blockchain. In this case, investors were just asked to trust OneCoin.”

Ignatova was last seen leaving Bulgaria for Greece in October 2017. Since then, law enforcers have had no new information about her whereabouts.

In mid-June, the FBI warned about fraudulent cryptocurrency schemes implemented on the LinkedIn platform. There, cybercriminals often create fake profiles, where they claim to be affiliated with official companies or representatives of successful investors, offering to contribute to a project.

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