The world's law enforcement agencies are suffering a serious setback in the search for the Bulgarian Ruzha Ignatova, creator of the OneCoin cryptocurrency. While other crypto bosses are already serving long sentences, there has been no trace of the so-called "crypto queen" for seven years, reports the "SEGA".
In recent years, investigative services around the world have achieved significant success in capturing crypto criminals. Sam Bankman-Fried, the founder of FTX, received a 25-year sentence in the US and must repay $11.2 billion to defrauded investors. A Turkish court sentenced Faruk Fatih Özer, the creator of the Thodex crypto exchange, to 11,196 years in prison, and Do Kwon of Terraform Lab was extradited from Montenegro to the US.
Against this backdrop, the absence of Ruza Ignatova from the list of captured crypto criminals raises serious questions about the effectiveness of the global police system.
The Mysterious Beginning
The life of 44-year-old Ruza Ignatova has been shrouded in mystery from the very beginning. There are different versions about her birthplace - Ruse, one of the Ruse villages or the Pleven region. After the family moved to Germany, they acquired a metallurgical plant in Bavaria, which went bankrupt in 2012. Then Ignatova received a suspended sentence for untimely declaring bankruptcy.
The Rise of OneCoin
Ignatova's crypto career began around 2013 with her participation in the short-lived BigCoin project. Then, together with Sebastian Greenwood, she created OneCoin, registered in Dubai. Despite the obvious signs of a pyramid scheme, the project attracted billions from investors in 21 countries.
In 2015, the first problems with payments began, but the company continued to function. In Bulgaria, OneCoin acquired luxury properties, including a building on "Graf Ignatiev" street and the former restaurant "Krim" for 4.2 million euros.
The Disappearance
The last public appearance of Ruza Ignatova was on October 25, 2017, when she got off a Ryanair plane in Athens. After that, her traces were lost, although she was wanted by the FBI, Interpol and Europol.
Developments in 2024
In June 2024, the US Ambassador to Sofia, Kenneth Martin, acting Prosecutor General Borislav Sarafov and SANS Chairman Plamen Tonchev announced a $5 million reward for information leading to Ignatova's capture.
According to Plamen Tonchev, SANS has identified a transfer of 15 million euros and assets worth over 10 million euros linked to OneCoin.
Conflicting versions
The spokesperson for the North Rhine-Westphalia criminal police, Daniela Darcel, rejects the version of Ignatova's murder: "We have established that the specific person who allegedly killed her was actually in prison in Bulgaria," Darcel said.
Court developments in Dubai
In August 2024, a Dubai court allowed access to $50 million from Ignatova's frozen account. Dr. Jonathan Levy, a lawyer for some of the victims, commented: "We are getting a very confusing court decision that makes no sense, even in Dubai".
Film project
Hollywood is also showing interest in the story of the crypto queen. "Oscar" winner Kate Winslet is working on a film called "Fake!" based on the story of one of the victims - Jane McAdam, who lost over $300,000 in the scheme.