The OneCoin Cryptocurrency Fraud
OneCoin was a cryptocurrency investment scheme founded in 2014 by Ruja Ignatova, who marketed herself as the "Cryptoqueen." The scheme raised approximately $4 billion from investors worldwide by selling a cryptocurrency that had no actual blockchain. It was one of the largest financial frauds in history.
OneCoin operated through a multilevel marketing structure, recruiting investors across Europe, Asia, Africa, and the Americas. Ignatova presented the scheme at large investor conferences and cultivated a following that resembled a cult. Victims included people who invested life savings and borrowed money to participate.
In October 2017, as US prosecutors began closing in, Ruja Ignatova boarded a flight from Sofia to Athens and disappeared. She remains a fugitive. Her brother Konstantin Ignatov pleaded guilty to fraud charges in 2019. In 2022, Ignatova was added to the FBI's Ten Most Wanted list. The BBC's investigation, The Missing Cryptoqueen, is widely credited with escalating international law enforcement attention on the case.
Frequently asked questions
What is the best podcast about OneCoin?
The Missing Cryptoqueen by BBC journalist Jamie Bartlett is the definitive investigation into OneCoin and the disappearance of Ruja Ignatova. The podcast contributed to Ignatova being added to the FBI's Most Wanted list in 2022.
Was Ruja Ignatova ever caught?
No. As of 2026, Ruja Ignatova remains a fugitive. She was added to the FBI's Ten Most Wanted list in 2022. Her current whereabouts are unknown.