OneCoin: a "cryptocurrency" investors could never cash out
Reported: OneCoin ONEC (Company)
Compiled by ScamMarketCap from public recordsBulgaria
- $4B
- Taken in from investors, per US prosecutors
- 0
- People affected
- 0
- Joined here
- 0
- Open to a lawyer
OneCoin was marketed from 2014 as a cryptocurrency that would rival Bitcoin, mostly through a multi-level marketing network that paid commissions for recruiting new investors. US prosecutors say it had no real blockchain: the company set the coin's value itself, and investors could never convert their coins back into money. Prosecutors say it took in more than $4 billion worldwide.
Co-founder Karl Sebastian Greenwood pleaded guilty to fraud and money laundering charges and was sentenced to 20 years in prison in 2023. Founder Ruja Ignatova, who called herself the "Cryptoqueen," boarded a flight from Sofia to Athens in October 2017 and has not been seen publicly since. She is on the FBI's Ten Most Wanted Fugitives list.
Sources
This case file is compiled from public records and established reporting. Status as of the last update, Nov 1, 2026.
Case files summarize court records, regulator actions and established reporting.
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