The $4 Billion Crypto Scam: The Astonishing Mystery of OneCoins CryptoQueen

Jul 7, 2023 5:20 AM

Crypto, Crypto Scams & Alerts, Cryptocurrency, Financial, Wallet

The Alleged OneCoin Scam: Urging Bulgaria to Reopen the Case

The recent appointment of a new acting chief prosecutor in Bulgaria has brought attention to the ongoing investigation of the alleged $4 billion OneCoin scam, associated with Ruja Ignatova, known as the “CryptoQueen.” Jonathan Levy, a lawyer based in the United States and London, is urging Bulgaria’s new chief prosecutor, Borislav Sarafov, to reopen the case against OneCoin, a fraudulent cryptocurrency scheme that was purportedly founded by Ignatova and members of Bulgarian organized crime groups in 2014.

Key Points:

Successful prosecution by Bulgarian authorities could lead to substantial financial restitution for victims.
Levy claims to have spoken with an individual involved in OneCoin who confirmed the existence of approximately $2 billion in funds.
Specific details such as wallet addresses and bank account numbers are needed to track down the assets.
Ignatova disappeared seven years ago, leaving behind a trail of stolen funds globally.
OneCoin operated as a pyramid scheme, enticing investors with crypto trading courses and rewards for recruiting new participants.

This recent development occurs nearly seven years after Ignatova disappeared, leaving behind a trail of stolen funds scattered worldwide, including in banks, shell companies, and luxury properties in London. The scheme allegedly engaged in fraudulent activities, obtaining an estimated $4 billion from investors through the promotion of their own cryptocurrency. In February of this year, there were reports suggesting Ignatova’s death, but skepticism remains regarding the truth of these reports.

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Hot Take:

The new acting chief prosecutor in Bulgaria has the opportunity to bring justice to the victims of the alleged OneCoin scam by reopening the case. With the possibility of substantial financial restitution, it is crucial to track down the $2 billion in funds and hold the responsible individuals accountable. The mysterious disappearance of Ruja Ignatova and the skepticism surrounding her reported demise only add to the intrigue of this fraudulent cryptocurrency scheme. It will be interesting to see how this investigation unfolds and if justice will prevail.