Dr. Ruja Ignatova, the notorious “Crypto Queen,” is as soon as once more within the crosshairs of regulation enforcement, as German government have positioned her on Europe’s maximum sought after record.

Europol, the Eu Union Company for Regulation Enforcement Cooperation, is providing a praise of five,000 Euros for info resulting in the arrest of Ignatova on fraud fees for soliciting investments in OneCoin, a “nugatory cash.”

Ignatova is suspected of masterminding the Ponzi rip-off at the back of the so-called digital forex “OneCoin,” which generated just about €five billion from buyers in over 170 nations by means of the top of 2007.

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After the OneCoin Ponzi scheme was once uncovered in 2017, Ignatova flew to Athens and hasn't been noticed since. (Day-to-day Creation)

Europol’s Maximum Sought after Crypto Fugitive

The 41-year-old fugitive Ignatova introduced the OneCoin venture in the course of 2014, advertising it to buyers because the “Bitcoin Killer” of the long run.

As with a large number of Ponzi scams, corresponding to Arbistar and Bitconnect, Ignatova fled when she felt in jeopardy, taking billions of greenbacks together with her.

Upon the 2017 revelation that OneCoin was once a Ponzi scheme, Ignatova boarded an plane to Athens and has now not been noticed since.

OneCoin is considered one of the most greatest frauds within the historical past of cryptocurrencies and serves as the foundation for the BBC radio sequence “The Lacking Crypto Queen.”

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The Pretend Coin’s Over three Million Shoppers

On the top of its reputation, OneCoin claimed to have greater than three million subscribers all over the world.

In 2019, US prosecutors within the Southern District of New York charged OneCoin’s leaders with cord fraud, securities fraud, and cash laundering. This incorporated Ignatova, her brother Konstantin Ignatova, and Mark Scott.

Ignatova performed international excursions to advertise OneCoin, urging folks to speculate, achieve educational crypto buying and selling lessons, and earn commissions for recruiting new buyers.

BTC general marketplace cap at $517 billion at the day-to-day chart | Supply: TradingView.com

Unlawful Pyramid Scheme

Despite the entire guarantees, the true result was once considerably much less interesting. To begin with, OneCoin lacked a blockchain on which to function, that means that the coin was once now not actively traded and may now not be used to make purchases as it had no cost device to make stronger it.

The Italian Antitrust Authority bought an injunction towards One Community Services and products Ltd (OneCoin) in December 2016, describing its operations as an “unlawful pyramid gross sales device.” On the other hand, the corporate’s accounts in different areas of the arena weren’t blocked till 2017.

Europol mentioned that OneCoin has brought about billions of greenbacks in damages all over the world, including that Ignatova and her mates is also armed and that anybody in a position to help the government will have to workout nice warning.

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