Ruja Plamenova Ignatova
Ruja Plamenova Ignatova is a Bulgarian-born entrepreneur and convicted fraudster best known as the founder of OneCoin, a cryptocurrency investment scheme that prosecutors have described as one of the largest financial frauds in history. Nicknamed the "Cryptoqueen", Ignatova disappeared in October 2017 shortly before United States authorities issued criminal charges against her. She has since become one of the world's most wanted fugitives.
Ignatova was born in Ruse, Bulgaria, and moved with her family to Germany during her childhood. She excelled academically and later studied law at the University of Konstanz, where she earned a doctorate. Before entering the cryptocurrency industry, she worked in finance and management consulting and became involved in a number of business ventures across Europe.
In 2014, Ignatova founded OneCoin, which was promoted as a revolutionary cryptocurrency capable of competing with Bitcoin. The company sold educational packages on cryptocurrency and investing, with purchasers receiving OneCoin tokens that were purportedly linked to a digital currency. Through elaborate international marketing events, luxury presentations, and a network of independent promoters, OneCoin attracted millions of participants in more than 175 countries.
Unlike established cryptocurrencies such as Bitcoin, investigators later concluded that OneCoin lacked a genuine blockchain capable of independently recording transactions. According to prosecutors in the United States and several European countries, the value of OneCoin was controlled internally by the company, while members were encouraged to recruit new investors through a multi-level marketing structure. Authorities alleged that investor funds were used to enrich the scheme's organisers rather than support a legitimate cryptocurrency.
By 2017, regulatory scrutiny had intensified across multiple jurisdictions. On 25 October 2017, Ignatova boarded a commercial flight from Sofia, Bulgaria, to Athens, Greece. She has not been seen publicly since. Prosecutors later alleged that she fled after learning that United States authorities were preparing criminal charges against her.
In 2019, the United States Department of Justice unsealed an indictment charging Ignatova with wire fraud, securities fraud, money laundering, and conspiracy to commit those offences. Prosecutors alleged that OneCoin generated more than US$4 billion in investor deposits worldwide, although estimates of investor losses vary. Several senior OneCoin executives and promoters, including Ignatova's brother Konstantin Ignatov, pleaded guilty or were convicted in connection with the scheme.
Ignatova's disappearance has generated widespread speculation. Media reports have suggested a variety of theories regarding her whereabouts, including that she may be living under a false identity or may have been killed. Some reports have alleged links to organised crime figures in Eastern Europe, but none of these theories has been conclusively verified. As of 2026, her location remains unknown.
In June 2022, the United States Federal Bureau of Investigation added Ignatova to its Ten Most Wanted Fugitives list, making her one of the few women ever to appear on the list. The U.S. Department of State has offered a reward of up to US$5 million for information leading to her arrest or conviction, while Europol has also listed her among Europe's most wanted fugitives.
The collapse of OneCoin has become one of the most significant scandals in the history of cryptocurrency. The case has been widely cited by regulators, financial investigators, and consumer protection agencies as an example of how emerging financial technologies can be exploited to facilitate large-scale investment fraud. It also prompted increased scrutiny of cryptocurrency projects and reinforced calls for stronger international cooperation in combating financial crime. {{Bio}}