Ruja Ignatova, the notorious figure behind the $4.5 billion OneCoin cryptocurrency scam, has been hit with a global asset freeze following legal action by investors seeking compensation. The order, announced on Wednesday at London’s High Court, aims to prevent the sale or transfer of Ignatova’s assets.
Known as the “Missing Cryptoqueen,” Ignatova has evaded capture since she disappeared after disembarking a Ryanair flight in Athens over six years ago. Recent investigations have linked her to Bulgaria’s underworld and a suspected organized crime boss, further complicating her case.
Despite a $5 million reward offered by U.S. authorities for information leading to her arrest, attempts by OneCoin investors to recover significant compensation have thus far been unsuccessful. The asset freeze is part of a group action involving over 400 investors led by Jennifer McAdam, who has publicly shared her personal loss of over £200,000 from the scam.
So far, OneCoin investors’ attempts to get significant compensation for their losses have failed, much like the search for Ms Ignatova. US authorities are currently offering a $5m (£4m) reward for information leading to her arrest.
The freezing order, made public on Wednesday at London’s High Court, is part of a group action brought by more than 400 OneCoin investors.
It is spearheaded by Jennifer McAdam, who said she and her friends and family lost more than £200,000 in the OneCoin scam.
McAdam, from Scotland, first detailed her experience in 2019 through the BBC’s Missing Cryptoqueen podcast. She described the profound impact of the fraud, noting that the stories of victims are “utterly heart-breaking” and that the financial devastation has been “unbearable.”
“I have seen first hand the toll this fraud has taken on so many lives,” she said.
“The stories of victims are utterly heart-breaking and the financial ruin they have been left in is unbearable.”
Ms McAdam, from Scotland, first shared her story in 2019 with the BBC’s Missing Cryptoqueen podcast. Like others interviewed from Uganda and the US, she had convinced her closest friends and family to invest before realising it was a scam.
