Missing and Most Wanted: From cryptocurrency to conspiracy to crime
GERMANY (WKRC) – When Ruja Ignatova fell off the face of the Earth in 2017, she was already on the FBI’s radar for orchestrating one of the largest cryptocurrency scams of all time. Seven years later, she’s still nowhere to be found and the price on her head is now $5 million.
Who is Ruja Ignatova?
Ignatova was born in Bulgaria and raised in Germany before graduating from Oxford University in England. At 34 years old she launched OneCoin, a Ponzi and pyramid scheme disguised as a new cryptocurrency. Not only did the company take fraudulent investments, but the OneCoin cryptocurrency never even existed. Unlike real cryptocurrency, OneCoin wasn’t registered to the blockchain, so the company could produce and circulate as much as they want.
The chase…
The FBI quickly realized there was something strange going on at OneCoin, which meant its ringleader was likely involved. The FBI contacted Ignatova’s American boyfriend, who agreed to cooperate with the organization. When Ignatova found out, she boarded a Ryanair flight to Athens on October 25, 2017. That flight was the only confirmed sighting of Ruja Ignatova in seven years.
In 2018, documents were uncovered relating to the death of a Bulgarian police officer that indicated a possible connection between Ignatova and the Bulgarian mafia. The documents suggested Ignatova may have been killed on a mafia boss’ private yacht, but the source of the information was heavily intoxicated and claimed that Ignatova’s body had been dismembered and scattered throughout the Ionian Sea. Nonetheless, authorities are still searching for Ignatova with the assumption that she is alive.
Ignatova was added to the FBI’s Most Wanted List in 2022 with a cash reward of $100,000 “for information leading to the arrest and/or conviction of Ruja Ignatova.” Only two years later, that price is $5 million.
Authorities believe Ignatova made off with a large sum of cash when she vanished, suggesting she could have some powerful friends hiding her. This bounty increase is likely to encourage those who may be financially reliant on her.
The fallout…
“The Missing Cryptoqueen” by Jamie Bartlett follows the entire story of Ruja Ingatova, starting with a wildly popular podcast that was then bound and printed. Ingatova’s story has intrigued the entire world, with everyone wondering where the wealthy criminal may be hiding (if she’s even alive).
Furthermore, OneCoin’s spectacular scam has created a lot more skeptics in the cryptocurrency industry, and the desire for more oversight into crypto companies.