- London’s High Court issued a global asset freeze against the elusive “Cryptoqueen” on behalf of over 400 investors seeking compensation.
- The freezing order prevents assets from being sold or moved across multiple jurisdictions.
- In 2017, Ruja Ignatova disappeared amidst intensified investigations.
- The global freezing order provides hope for justice but substantial challenges in securing compensation for victims remain.
Ruja Ignatova, the elusive “Cryptoqueen” wanted by the FBI for masterminding the $4.5 billion OneCoin cryptocurrency scam, has been hit with a global asset freeze. The order, brought on behalf of over 400 investors seeking compensation, was made public on Wednesday by London’s High Court. The move marks a significant step in the ongoing efforts to recover funds lost in one of the largest cryptocurrency frauds in history
The ruling, issued earlier this week, comes after years of legal battles and international investigations into Ignatova’s activities. The court has frozen several of her assets, including luxury properties in London, bank accounts, and other high-value assets believed to be linked to the proceeds of the OneCoin scam. The exact value of the frozen assets has not been disclosed, but they are believed to be worth millions of pounds.
The freezing order prevents Ignatova’s assets from being sold or moved, extending across multiple jurisdictions. This action aims to preserve any remaining wealth linked to the OneCoin scam, which deceived millions of investors worldwide with the promise of a revolutionary new cryptocurrency.
OneCoin Scam Unveiled
Ruja Ignatova launched OneCoin in 2014, presenting it as a revolutionary cryptocurrency that would rival Bitcoin. However, it was soon revealed that OneCoin had no actual blockchain, and the “coins” were essentially worthless. Despite this, the scheme attracted millions of investors worldwide, raising an estimated $4.4 billion. In 2017, as investigations into OneCoin intensified, Ignatova disappeared, leaving behind a trail of financial ruin and unanswered questions.
The recent asset freeze is part of a broader effort by authorities to recover some of the losses suffered by OneCoin victims. However, with Ignatova still missing, the task of bringing her to justice remains elusive.
Disappearance and Ongoing Manhunt
Ignatova has not been seen since she mysteriously vanished after disembarking from a Ryanair flight in Athens, Greece, in October 2017. Her disappearance has fueled widespread speculation, including allegations of her involvement with the Bulgarian underworld. A BBC investigation in June 2024 revealed her connections to a notorious organized crime figure, who is suspected of playing a role in her disappearance.
Despite extensive international efforts, including a $5 million (£4 million) reward offered by U.S. authorities for information leading to her arrest, Ignatova remains at large. Her evasion of capture has only deepened the mystery surrounding her case, making her one of the most wanted fugitives in the world.
The Road Ahead
The global freezing order offers a glimmer of hope to those seeking justice, but significant challenges remain. Attempts to secure substantial compensation for OneCoin victims have largely failed so far, reflecting the complex and international nature of the case. As the legal battle continues, the search for Ruja Ignatova persists, with authorities and victims alike hoping for a resolution to this long-running saga.
The case of the “Cryptoqueen” stands as a stark reminder of the risks associated with unregulated cryptocurrencies and the devastating impact such schemes can have on people’s lives.
