'Cryptoqueen' Added to FBI's Ten Most Wanted List

Ruja Ignatova is accused of scamming OneCoin investors out of more than $4B
By Rob Quinn,  Newser Staff
Posted Jul 1, 2022 5:07 AM CDT
Missing 'Cryptoqueen' Is on FBI's Most Wanted List
The FBI says Ignatova may have had plastic surgery.   (FBI)

The FBI has added Ruja Ignatova, a Bulgarian woman dubbed the "cryptoqueen," to its Ten Most Wanted list—but she's been missing since 2017 and the agency says she may have changed her appearance. The 42-year-old is accused of running a Ponzi scheme that scammed investors around the world out of more than $4 billion, the BBC reports. The FBI says Ignatova founded OneCoin, a firm that marketed a purported cryptocurrency of the same name. "In order to execute the scheme, Ignatova allegedly made false statements and representations to individuals in order to solicit investments in OneCoin," the FBI says.

"Ignatova capitalized on the excitement surrounding cryptocurrencies to draw in new investors," the FBI says. Buyers were offered commission if they sold the cryptocurrency to friends and family—but unlike other cryptocurrencies, there was never any blockchain behind OneCoin and investigators say "coins were essentially minted out of thin air," with the company, not the market, deciding their value, CNBC reports. In 2016, Ignatova claimed OneCoin would soon eclipse bitcoin. She was indicted by a federal grand jury the following year on charges including wire fraud and securities fraud.

Ignatova was last seen traveling from Bulgaria to Greece soon after the indictment was issued. "She may travel on a German passport to the United Arab Emirates, Bulgaria, Germany, Russia, Greece, and/or Eastern Europe," the FBI says. Ignatova, who was known for throwing lavish parties before her scheme was exposed, disappeared with around $500 million. The FBI says she is believed to travel with armed guards and may have used plastic surgery to change her appearance. A reward of $100,000 is being offered for information leading to her arrest. The FBI says she is only the 11th woman ever to appear on its Ten Most Wanted list. (More cryptocurrency stories.)

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