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.

A London high court has announced a global asset freeze targeting Onecoin’s co-founder Ruja Ignatova and associates. The move comes as part of a legal effort by over 400 investors who lost millions in the cryptocurrency scam.

The asset freeze, announced at London’s High Court, targets Ignatova, seven others, and four companies linked to Onecoin. The freeze 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).

“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,” she was quoted by the BBC as saying.

Ignatova, a Bulgarian national, is accused of orchestrating the $4.5 billion Onecoin scam. She vanished 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. Ignatova is also on the Federal Bureau of Investigation’s (FBI) 10 Most Wanted Fugitives List with a $100,000 reward.

Moreover, Germany has charged her for her role in the transnational fraud, making her one of Europe’s most wanted fugitives.

While several people involved in the Onecoin scheme have been arrested, Ignatova remains at large. Despite a global manhunt, her whereabouts are still unknown. Some unconfirmed reports have suggested that she may have been killed, but without concrete evidence, these claims are purely speculative, and the search for her continues.

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