A London high court has announced a global asset freeze targeting Onecoin’s co-founder Ruja Ignatova and associates. Over 400 investors sought this legal action after losing millions in the Onecoin cryptocurrency scam. The asset freeze prevents further movement of Ignatova’s wealth, possibly aiding victims’ compensation.
Onecoin’s Ruja Ignatova Faces Global Asset Freeze Amid Investor Lawsuit
Ruja Ignatova, the Bulgarian mastermind behind the $4.5 billion Onecoin cryptocurrency scam, is now under a global asset freeze following a legal effort by over 400 investors seeking compensation. Announced at London’s High Court, the freeze targets Ignatova, seven others, and four companies linked to Onecoin. This action prevents these assets from being sold or moved, offering a glimmer of hope to victims of the fraud.
Jennifer McAdam, a leading voice among defrauded investors, spearheaded the group action. McAdam and her family lost over £200,000 to Onecoin. The scam left countless victims, including UK investors who lost more than £100 million ($128 million). She was quoted by the BBC as saying:
I have seen firsthand the toll this fraud has taken on so many lives … The stories of victims are utterly heartbreaking, and the financial ruin they have been left in is unbearable.
Ignatova disappeared after leaving a Ryanair flight in Athens in 2017. In June, the U.S. Department of State offered a reward of up to $5 million for information leading to her arrest or conviction. In 2022, the Federal Bureau of Investigation (FBI) placed her on the agency’s 10 Most Wanted Fugitives List with a $100,000 reward. Germany has also charged her for her role in the transnational fraud, making her one of Europe’s most wanted fugitives.
Although several people involved in the Onecoin scheme have been arrested, Ignatova remains at large. Despite a global manhunt, her whereabouts are still unknown. Unconfirmed reports suggest she may have been killed, but without concrete evidence, these claims are purely speculative, and the search for her continues.
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