Thursday, September 29, 2022

Meet The Crypto Queen That Keeps Evading Arrest Despite FBI’s $100,000 Reward

Ruja Ignatova, also known as the “Crypto Queen” was recently featured when the U.S. Federal Bureau of Investigation FBI released an updated version of its Ten Most Wanted fugitives. Ignatova is the only female on the current list. But she is also the 11th woman to ever make the list since it was created in 1950.

How The Crypto Queen Gained Her Notoriety

According earlier reported, Ignatova is a 42-year-old Bulgarian German. She co-founded OneCoin in 2014 and the cryptocurrency soon became famously known as the “Bitcoin killer.” So widespread was OneCoin’s popularity that by the end of 2016, it boasted over 3 million members worldwide.

However, despite all the promises to displace Bitcoin as the world’s leading digital asset, it soon became clear that OneCoin was not backed by any blockchain. As it turned out, the entire project was yet another Ponzi scheme that would see investors from around the globe lose multiple billions of dollars. And the mastermind was none other than Ruja Ignatova herself.

According to the U.S. authorities, OneCoin operated on a multi-level marketing model. A scheme that paid early investors with new investor funds, amounting to the proverbial “Robbing Peter to pay Paul”.

Still At Large

The last was heard of the Crypto Queen in October 2017 when she boarded a budget airline flight from Sofia, Bulgaria, to Athens, Greece. Since then, she has managed to remain under the radar, avoiding arrests. This is despite a $100,000 reward promised to anyone who can offer useful information regarding her whereabouts. 

It might be worth mentioning, however, that most of Ignatova’s accomplices have already been caught.

For instance, OneCoin’s co-founder Sebastian Greenwood has also been arrested. He was caught in Thailand in 2018. But has since been extradited to the United States, as he awaits trial. More recently, in March 2019 precisely, Ignatova’s younger brother Konstantin Ignatov was also arrested in Los Angeles.

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