FBI adds ‘Cryptoqueen’ Ruja Ignatova To Top Ten Most Wanted

By   ISBuzz Team
Writer , Information Security Buzz | Jul 01, 2022 05:40 am PST

As reported by BBC News, Ruja Ignatova, also known as the “missing Cryptoqueen“, has been placed on the FBI’s top 10 most wanted list. The Bulgarian woman, believed to be in her 40s, is wanted for her alleged role in running a cryptocurrency scam known as OneCoin.

Federal investigators accuse the fugitive of using the scheme to defraud victims out of more than $4bn (£3.2bn). She has been missing since 2017 when US officials signed an arrest warrant and investigators began closing in on her. In 2014, OneCoin, a self-described cryptocurrency, began offering buyers commission if they sold the currency on to more people.

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Jake Moore
Jake Moore , Global Cyber Security Advisor
InfoSec Expert
July 1, 2022 1:41 pm

This elaborate scam was effectively a Ponzi scheme disguised as a cryptocurrency, which happens more often than one may think. With the humongous funds that Ignatova had gathered over time, hiding from law enforcement would be relatively simple and therefore very frustrating for the investigators.  

People must always do their research to the highest degree when investing in cryptocurrencies, especially in new coins, and should initially treat them with little or no confidence. Unfortunately, when purchasing new currencies some can believe the hype far too quickly before losing out completely.

Last edited 1 year ago by Jake Moore

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