RUJA Ignatova, know as the Crypto Queen, hasn’t been seen since 2017 after being accused of defrauding OneCoin investors of $4 billion.
But what is the story behind the OneCoin founder and what’s her net worth?
Who is Crypto Queen Ruja Ignatova?
Ruja Ignatova was born on May 30, 1980, in Bulgaria, but moved to Germany with her family at the age of 10.
She studied law at Oxford University before going on to do a PhD in private international law at the University of Konstanz in Germany.
She started her career at consultancy firm McKinsey & Company before founding OneCoin in 2014.
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What was OneCoin?
OneCoin was founded by Ruja Ignatova and Karl Sebastian Greenwood in Bulgaria with the pair claiming it worked just like any other cryptocurrency.
They said OneCoin could be mined – with 120 billion coins available – and used to make payments.
However, OneCoin had no blockchain.
OneCoin was a multilevel marketing scheme meaning users were offered rewards for getting more people to purchase ‘OneCoin packages’.
OneCoin could be converted into other currencies on the OneCoin Exchange xcoinx.
Users were able to access it if they purchased more than just the beginner package.
Limits were placed on users based on the level of package they had purchased but the firm denied the majority of withdrawal requests.
In 2016, questions started to arise about OneCoin as countries started to investigate the company.
In January 2017, the exchange was shut down.
This was the only way people could claim their commission for ‘selling’ the course to others through the multi-level marketing scheme.
In total, more than 3 million people from around the globe invested $4 billion into OneCoin.
Where is Ruja Ignatova now?
Ruja Ignatova has not been seen since 2017 when the OneCoin co-founder boarded a flight from Sofia, Bulgaria to Athens, Greece and has not been seen since.
US authorities charged her in 2019 with eight counts including wire fraud, securities fraud and money laundering and in 2022, she was added to the FBI most-wanted fugitives list.
The FBI is offering a reward of up to $100,000 for any information leading to her arrest.
Some believe she uses a fake passport to travel, while others think she could be hiding in plain sight thanks to plastic surgery.
The majority of OneCoin’s alleged executives have now either been arrested or jailed including Karl Sebastian Greenwood and Ignatova’s brother Konstantin.
What is Ruja Ignatova’s net worth?
Ruja Ignatova is believed to be a billionaire.
The OneCoin co-founder is reported to have 230,000 Bitcoin worth around $4 billion and $500 million in a bank account.
Read More: 24-7-crypto.com