Europol Provides OneCoin’s Crypto Queen Ruja Ignatova To Its Most Wished Checklist

Europol Adds OneCoin’s Crypto Queen Ruja Ignatova To Its Most Wanted List

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In the same way that the adoption of cryptocurrencies amplified around the world, so did the Ponzi schemes and other frauds connected to the crypto ecosystem. OneCoin is 1 of the most noticeable examples but Europol is focused on closing the circumstance and put its promoters at the rear of bars —no issue how lengthy it takes.

On Might 11, Europol included Ruja Ignatova, founder of the OneCoin Ponzi scheme, to its checklist of Europe&#8217s most wished fugitives, giving a reward of up to €5,000 to everyone who aids to monitor her whereabouts.

As for every Europol facts, Ignatova is wished for fraud-linked crimes that have influenced individuals&#8217s monetary passions in the European Union.

Ruja Ignatova is now on the Most Wanted checklist of the Europol. Graphic: Europol

Ignatova Elevated In excess of €5 Billion With OneCoin

Ignatova is suspected of driving the Ponzi plan guiding the so-termed cryptocurrency &#8220OneCoin,&#8221 which raised about €5 billion by the conclude of 2007 from investors in extra than 170 countries.

Now fugitive, Ignatova released the &#8220OneCoin&#8221 task in mid-2014, selling it to buyers as the long term &#8220Bitcoin Killer&#8221 having said that, as has transpired with lots of Ponzi strategies, like Arbistar or Bitconnect, when Ignatova felt in hazard, she escaped, having billions of bucks with her.

In December 2016, the Italian Antitrust Authority issued an injunction from the firm 1 Network Providers Ltd [OneCoin], describing its actions as an &#8220illegal pyramid gross sales method.&#8221 Having said that, it was only in 2017 when the company&#8217s accounts in various pieces of the entire world were being frozen.

On The Run With €1 Billion

In accordance to Europol, the whereabouts of Ignatova have been unidentified because Oct 25, 2017. Allegedly, this occurred following she learned that the US Federal government was investigating her. She disappeared soon soon after that, leaving her brother Konstantin Ignatov (who was arrested in 2019) in cost of the venture.

In addition, Europol stated that the losses induced by OneCoin close to the earth quantity to many billions of dollars, incorporating that Ignatova and her companions could most likely be armed and that any individual willing to collaborate with the authorities should really be very careful.

&#8220The fraud-connected loss set up so far is in the upper double-digit million vary. The loss prompted on a international scale likely quantities to quite a few billion USD.&#8221

How Did &#8220OneCoin&#8221 Do the job?

Onecoin worked centered on offering educational supplies or bundles at 100 to 118,000 euros on cryptocurrency trading. The bundles bundled &#8220tokens&#8221 by way of which investors could &#8220mine&#8221 Onecoins.

However, the mined &#8220cash&#8221 have been not acknowledged by any trade outdoors the one particular supplied by the business termed Xcoinx, which raised alarms in the community and finished up breaking the whole Ponzi plan they experienced been operating for yrs.

Xcoinx did not let the trade of onecoins to any other currency. Ignatova&#8217s fortune has not been sized or recovered.

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