- U.S. State Department offers new $5M reward for missing ‘Cryptoqueen’ Ruja Ignatova, founder of OneCoin cryptocurrency scam
- Ignatova disappeared in Athens, Greece in 2017 after allegedly defrauding investors of over $4 billion through OneCoin
- The reward is for information leading to her arrest and/or conviction for her alleged role in the fraud scheme
The U.S. State Department has announced a new $5 million reward for information leading to the arrest of Ruja Ignatova, the founder of the alleged cryptocurrency scam OneCoin who disappeared in 2017. Ignatova, nicknamed the “Cryptoqueen,” is one of Europe’s most wanted fugitives.
Background on OneCoin
OneCoin claimed to be a cryptocurrency, but investigators have concluded it was a centralized Ponzi scheme that defrauded investors out of $4 billion. The company was founded in 2014 by Ignatova, who promoted OneCoin as the “Bitcoin killer” and claimed it would revolutionize payments. However, there was no blockchain behind OneCoin and the value was simply made up. Ignatova was charged in 2019 with wire fraud, securities fraud and money laundering. She disappeared in October 2017 after a meeting with U.S. prosecutors in Bulgaria and has been missing ever since.
Details of the New Reward
The U.S. State Department is now offering a reward of up to $5 million for information leading to the arrest and/or conviction of Ignatova. She has been placed on the State Department’s Transnational Organized Crime Rewards Program list. This program offers rewards for information to combat transnational organized crime and bring criminals to justice. Ignatova is one of the most high-profile criminals on the list.
Reaction from Authorities
The Assistant Director in Charge of the FBI’s New York Field Office said: “Ruja Ignatova, and her co-conspirators defrauded innocent investors out of more than $4 billion. Ignatova disappeared, but the FBI’s determination to find her has not wavered.” The State Department’s Under Secretary for Civilian Security, Democracy, and Human Rights called Ignatova’s OneCoin “one of the biggest fraud schemes in history.”
Conclusion
The $5 million reward demonstrates how determined U.S. authorities are to catch Ignatova and finally bring her to justice after years as an international fugitive. Whether the substantial reward will lead to definitive information on her whereabouts remains to be seen. Investigators hope the money will entice associates in her inner circle to come forward with evidence that leads to her arrest.
