OneCoin is counted among the biggest cases of cryptocurrency fraud ever, and this pyramid chain is led by a woman: Ruja Ignatova. So how did Ruja Ignatova, also known as Cryptoqueen, stole billions of dollars with the OneCoin project?
In 2014, the growing interest in Bitcoin was growing rapidly. As the Bitcoin price climbed above $ 500, people became more and more interested in the world of digital currencies. A project that took advantage of this curiosity, promising to be the new Bitcoin, dragged thousands of people from all over the world.
Before OneCoin …
Ruja Ignatova was born in 1980 in Sofia. At the age of 10, his family immigrated from Bulgaria to Germany in order to have better opportunities for both their children’s education and their families. The first years of Ignatova’s childhood and youth were spent in the small town of Schramberg, located on the German border with France and Switzerland.
Saying that he has always been interested in the field of law, Ignatova graduated from the University of Konstanz with a PhD in private European law in 2005, with the plus of his strong oratory skills. In her doctoral dissertation, Ruja chose to deal with disputes in private law between nations. Although there is not much information about exactly what he did until his big project in 2014, there are claims that Ignatova continued his academic career or worked for a law firm.
Then Dr. Ruja had an idea: OneCoin
OneCoin was founded in 2014 by Dr. While starting his activities under the leadership of Ruja, he promised people a brand new cryptocurrency experience with discourses like “Forget Bitcoin and get ready for the better”. The goal of the OneCoin team, which specializes in marketing and persuasion, was that instead of a number of technology enthusiasts who were interested in Bitcoin at that time, they were not aware of the operation of digital currencies, but heard the reputation of Bitcoin and wanted to make money in this way; There were housewives, civil servants, young people, the elderly, in short, everyone.
At that time, it was necessary to have a minimum level of computer knowledge to invest in Bitcoin, OneCoin eliminated them and simplified everything with the “buy package” system. The offers presented were “too profitable to be true”. There was a fundamental reason OneCoin wanted to attract the uninformed segment; This crypto currency, promoted as OneCoin and promised to replace Bitcoin, did not have a blockchain system. This information was very clear to those in the know: if there is no blockchain, there is no cryptocurrency.
OneCoin has started offering some packages to people saying “invest early now and reap the rewards when they are worth a thousand times” People could join this exciting new system by signing up to OneCoin and buying packages ranging from 100 to 118,000 euros. These packages promised OneCoin tokens that could be earned through mining, based on the amount paid.
OneCoin, whose servers were rumored to be in Bulgaria and Hong Kong, allowed people to convert their OneCoins into euros through the OneCoin exchange “xcoinx” to a certain extent. But here, too, there were daily sales limits, which slowed the disposal of OneCoin drastically. In other words, users could not exchange tokens with each other, but directly with the OneCoin company. In fact, the only way users could earn money was through a commission from their newly recruited members. Of course this was temporary, at least so users were told, OneCoin would be the new Bitcoin and members would not pay money.
Big show and first crackles from OneCoin
OneCoin Bossice Dr. Ruja Ignatova had close ties with OneCoin investors. As the business woman of the year, she appeared in magazines and went on world tours. In fact, she shows up at the famous Wembley Stadium in England with her evening dress, red lipstick and shiny jewelry; He thanked his supporters and urged more people to OneCoin.
When people who understand cryptocurrencies and blockchain technology looked at OneCoin, they clearly realized that it was a pyramid chain. Those who experienced this enlightenment tried to warn people on the Internet or at various meetings, but OneCoin supporters, acting like a sect, started to target these people. Them; Since OneCoin will be the new Bitcoin, they accused it of being incapacitated, with jealousy and slander. Apart from expert names, many official institutions and banks have also made written statements and warned people that OneCoin is a happiness chain. But attractiveness and easy money making came much closer to people.
People listen to Ruja at meetings as if they are mesmerized, and Ruja told them, “You are very lucky to be here now; You caught OneCoin just at the beginning of the road. OneCoin would explode just like Bitcoin and you will multiply your earnings ”.
Last track from Ruja Ignatova: a single flight ticket from Sofia to Athens
Although some legal problems began to arise, the company was continuing in some way, taking its power from its ardent advocates. Then, in October 2017, Ruja Ignatova, the company’s founder, face and CEO, did not take his place on the plane he was supposed to board for another meeting with OneCoin supporters. Everyone, including his brother, who was one of the partners of the company, thought he was late or that he had a very important job last minute. But Ignatova never came.
According to FBI records, Dr. Ruja Ignatova bought a ticket from Sofia to Athens and disappeared; This was the last piece of information from him. Of course, Ignatova did not go alone, taking the large amount of money she earned from OneCoin users, she disappeared. While no one knows exactly the value of the money kidnapped by Ignatova, it is certain that there is a large enough amount to live in luxury without any trouble.
The boss is on the run, the waters are not settled
After running away to lipstick, Konstantin Ignatova came to her place at OneCoin. Konstantin was arrested at Los Angeles Airport in March 2019 after serving as OneCoin CEO for 2 years. Brother Ignatova’s trial for several crimes, including money laundering and fraud, was concluded a few months ago, and Konstantin Ignatov is facing 90 years in prison. Dr. Ruja, like her brother, has been found guilty of various illegal activities, but has yet to be caught. The total amount embezzled by OneCoin fraud is over $ 16 billion, federal prosecutors said.
The court offered Konstantin Ignatova an agreement, the details of which have not yet been officially shared, on the condition that he testifies against his sister. Konstantin Ignatova is Dr. He agreed to testify against Ruja and to be on the other side in the case where her sister will be tried. But there is only one problem; the fake crypto queen is still out.
According to Mark Hunter’s article published in FullyCrypto, Cryptoqueen, which may have died already by some, may be hiding in Frankfurt. While Frankfurt may seem at first glance to be a random choice, Dr. It is cited as the most likely place where Ignatova can be found now. The research team, who took part in a radio documentary made by the BBC for Ignatova, announced that they received a report that the runaway patronymic could be in Frankfurt from a reliable source whose name they did not reveal. The unnamed source warned the team, “You should look more deeply here.”
Regardless, Dr. Ruja Ignatova is still at large. While some thinks that he is killed or killed somewhere, others claim that Ignatova has undergone a series of surgeries beyond recognition and can be lost with a false identity, with a scenario that does not look like movies. Some even argue that having sex reassignment surgery changed not just her appearance and identity, but her entire lifestyle. But Dr. Until Ruja Ignatova, a fake and ex-crypto queen, is caught, these claims are bound to remain just a rumor. Only one person knows the true story; He is Ruja Ignatova.