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<ul class="summary-list"><li>The <keyword id="11964162" type="UNKNOWN" weightage="60" keywordseo="fbi" source="Orion">FBI</keyword> added Ruja Ignatova, also known as the "<keyword id="14340708" type="UNKNOWN" weightage="60" keywordseo="cryptoqueen" source="Orion">Cryptoqueen</keyword>," to its ten most-wanted list.</li><li>Ignatova is wanted in connection with an alleged $4 billion <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> Ponzi scheme.</li></ul>The Federal Bureau of Investigation has officially added Ruja Ignatova, also known as the "Cryptoqueen," to its ten most-wanted list.The FBI said in a <a href="https://www.fbi.gov/contact-us/field-offices/newyork/news/press-releases/fbi-offers-100000-reward-for-capture-of-ten-most-wanted-fugitive-cryptoqueen">press release</a> Thursday it is offering a reward of as much as $100,000 for information leading to Ignatova's arrest.Ignatova founded OneCoin, an <a href="https://markets.businessinsider.com/currencies/news/cryptoqueen-allegedly-started-4-billion-ponzi-scheme-escaped-230000-bitcoin-2021-5-1030443321">alleged $4 billion cryptocurrency Ponzi scheme</a>, in 2014.Ignatova traveled the world and attended conferences touting OneCoin as a "Bitcoin killer," but investigators found that in reality OneCoin did not have any blockchain technology behind it. The US issued a federal warrant for Ignatova's arrest in 2017.Ignatova vanished that same year. According to the FBI's press release Ignatova travelled from Sofia, Bulgaria to Athens, Greece in October 2017.It gave no further information on sightings of her since then, but gave the United Arab Emirates, Bulgaria, Germany, Russia, Greece and Eastern Europe as places she might travel to.The FBI said on <a href="https://www.fbi.gov/wanted/topten/ruja-ignatova">Ignatova's wanted page</a> that she is "believed to travel with armed guards and/or associates." It added she may have had cosmetic surgery to alter her appearance.In March 2019 Ignatova's brother Konstantin, who had taken over OneCoin in her absence, was <a href="https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-charges-against-leaders-onecoin-multibillion-dollar">arrested</a>. Konstantin Ignatova <a href="https://www.bbc.co.uk/news/technology-50417908">plead guilty to charges including money laundering and fraud</a> in November 2019.Ignatova was previously added to a Europol list of Europe's most wanted people in May 2022.

The FBI is offering a $100,000 reward for missing Bulgarian 'Cryptoqueen' and has added her to its top 10 most-wanted list

<ul class="summary-list"><li>Wanted fugitive Ruja Ignatova hasn't been seen since October 2017.</li><li>The "crypto-queen" allegedly scammed billions out of investors before disappearing for years.</li></ul>Listings for a property in the UK may have just located the "crypto-queen" Ruja Ignatova years after her disappearance in 2017.Bulgarian-born Ignatova, 42, is wanted by the FBI for allegedly <a href="https://markets.businessinsider.com/currencies/news/cryptoqueen-allegedly-started-4-billion-ponzi-scheme-escaped-230000-bitcoin-2021-5-1030443321">scamming investors out of $4 billion between 2014 and 2016 in a Ponzi scheme</a> using her now-defunct company OneCoin. She was charged in absentia in 2019 for wire fraud, securities fraud, and money laundering.In October 2017, she vanished until documents related to a penthouse apartment in London seemingly pointed to her whereabouts, <a href="https://nypost.com/2023/01/28/ruja-ignatova-found-alive-after-vanishing-5-years-ago/" target="_blank" rel="noopener">the New York Post reported</a>. Previously, it was unclear if Ignatova was still alive and on the run.The lead was discovered by investigative reporter and host of <a href="https://podcasts.apple.com/us/podcast/the-missing-cryptoqueen/id1480370173" target="_blank" rel="noopener">"The Missing Cryptoqueen" podcast</a> Jamie Bartlett. He alleges that Ignatova initially purchased the property under a company name, but was forced to be named as the company's beneficiary under a new rule, per the New York Post.Earlier this month, Ignatova's lawyers filed a formal claim on the property with financial regulators and Ignatova was listed as the apartment's "beneficial owner," the report reads. The penthouse was originally listed for over $15 million before being dropped to around $13 million.The posting was reportedly taken down after the property agent learned of its connection to the fugitive. It remains unclear whether or not the apartment has been sold.Ignatova is <a href="https://www.insider.com/women-fbi-most-wanted-list-history-2023-1">currently the only woman on the FBI's most wanted list</a>, and she's the 11th woman to appear on the list in its 72-year history, Insider's Sarah Al-Arshani reported Tuesday.<a href="https://inews.co.uk/inews-lifestyle/money/london-flat-ruja-ignatova-missing-cryptoqueen-onecoin-sale-2093412" target="_blank" rel="noopener">Bartlett told UK-based digital publication iNews</a> that the move was "one of the most interesting developments in the story.""It suggests she is still alive, and there are documents out there somewhere which contain vital clues as to her recent whereabouts," Bartlett said.He added: "If nothing else it should make it easier for the authorities to freeze that asset — and maybe even start getting money back to victims."

Property documents for a London apartment suggest wanted 'crypto-queen' is alive after allegedly vanishing in 2017 with $4 billion from investors

From anti-war activists to the 'Crypto-queen,' here are the 11 women who have made the FBI's most wanted in its 72-year history

<ul class="summary-list"><li><keyword id="8397571" type="UNKNOWN" weightage="60" keywordseo="ruja-ignatova">Ruja Ignatova</keyword> is the co-founder of the now-defunct <keyword id="4458798" type="PERSON" weightage="60" keywordseo="onecoin">OneCoin</keyword>, and is known as the "<keyword id="11280661" type="UNKNOWN" weightage="60" keywordseo="cryptoqueen">CryptoQueen</keyword>."</li><li>Ignatova allegedly operated a <keyword id="6365281" type="UNKNOWN" weightage="60" keywordseo="ponzi-scheme">Ponzi scheme</keyword> that took $4 billion from investors.</li><li>She's now on the run from the FBI and is reported to have $500 million and 230,000 <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword>.</li></ul>On June 11, 2016, Ruja Ignatova walked onto the stage at The SSE Arena in London to hundreds of cheering fans as pyrotechnics went off and "Girl is on Fire" by Alicia Keys played in the background. The self-proclaimed "CryptoQueen" had arrived, and everyone who followed her wise words was soon to find enormous <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-905df7f5-7fff-c603-4959-ad29b6fe2ba2">wealth</a> - or so they thought. It turns out the CryptoQueen was already a convicted fraudster, and she was allegedly at it again. But this time Ignatova was going to take billions. <h3>The CryptoQueen's background</h3>Ruja Ignatova was born in Sofia, Bulgaria, but moved to Germany with her family when she was just ten years old. She went on to earn a Ph.D. in European private law from the University of Konstanz in 2005. Now, though, Ignatova isn't known as a renowned legal scholar; she's known as the founder of one of the biggest alleged scams in cryptocurrency history: OneCoin. OneCoin wasn't Ignaotova's questionable dealing. By this time, the CryptoQueen had already been convicted of <keyword id="38935" type="PERSON" weightage="60" keywordseo="Fraud">fraud</keyword> and was known to be involved with multi-level marketing schemes. In 2012, Ruja Ignatova was <a href="https://www.kreisbote.de/lokales/kempten/etwas-dubioses-erlebt-2580862.html">convicted of fraud</a> in Germany in connection with a company that was declared bankrupt in dubious circumstances shortly after she acquired the firm. She was given a 14-month suspended sentence for the crime. Ignatova had also been previously <a href="https://behindmlm.com/companies/onecoin/bigcoin-bna-the-original-onecoin-ponzi-points/">involved</a> in a failed multi-level marketing scheme called BigCoin, but OneCoin was set to be the CryptoQueen's pride and joy. Read more: <a href="https://www.businessinsider.com/crypto-trading-investing-tips-crypto-tokens-hodling-trader-scott-melker-2021-5" target="_blank">'Wolf of All Streets' crypto trader Scott Melker breaks down his strategy for making money using 'HODLing' and 100X trade opportunities - and shares 5 under-the-radar tokens he thinks could explode</a> <h3>The Alleged Ponzi scheme</h3>Ruja Ignatova started OneCoin in 2014 with Sebastian Greenwood, who has spent the last few years in jail on several charges related to defrauding investors and was last reported to be in <a href="https://cointelegraph.com/news/onecoin-marketing-guru-in-plea-talks">plea deal talks</a> with Manhattan prosecutors. The <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-2d19f02d-7fff-fc53-646f-e080e4636828">cryptocurrency</a> was supposed to be a "bitcoin killer," but in reality, investigators have said the project never used any type of blockchain technology. According to the Justice Department, OneCoin accounts took in some $4 billion from the fourth quarter of 2014 to the third quarter of 2016, sucking in wealthy investors from around the world using multi-level marketing scheme ploys to prop up their faux crypto. Investors were encouraged to recruit friends and family into the OneCoin community through small commissions on any funds they could secure to invest. Ignatova held conferences around the world, marketing her new "bitcoin killer" at <a href="https://www.youtube.com/watch?v=638_Jpp2Rq8">lavish events</a> in places like London and Dubai. From the start, regulators sensed something was off. Bulgaria's Financial Supervision Commission (FSC) warned of risks involved with <keyword id="2420795" type="PERSON" weightage="60" keywordseo="cryptocurrencies">cryptocurrencies</keyword> like OneCoin in 2015 when the cryptocurrency was just getting started. From there, in 2016, authorities in Croatia, Sweden, Norway, Latvia, Hungary, Italy, and several other nations all began to warn investors or crackdown on OneCoin in their countries. It wasn't until 2017, when India charged Ignatova with duping investors and began arresting OneCoin employees, that it truly began to unravel, however. The CryptoQueen stepped down as CEO of OneCoin in March of 2017 and proceeded to go on the run. She's currently wanted by the FBI. In 2018, Bulgarian prosecutors along with Europol officers raided OneCoin offices in Sofia, and the end of the OneCoin saga became official. In early 2019, Ignatova <a href="https://www.justice.gov/usao-sdny/press-release/file/1141981/download">was charged</a> in absentia by US authorities for wire fraud, securities fraud, and money laundering. Mark Scott, a lawyer who worked for OneCoin, was convicted in federal court of laundering $400 million in 2019, while Ruja's brother, Konstantin Ignatova, who took over the company after the CryptoQueen disappeared, was <a href="https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-charges-against-leaders-onecoin-multibillion-dollar">arrested in 2019</a> and later plead guilty to several charges, including money laundering and fraud. Konstantin is reportedly assisting US authorities as a part of a plea deal. <h3>On the run with $500 million and 230,000 bitcoin</h3>Following the creation of OneCoin, Ruja and fellow executives purchased millions of dollars worth of real estate across the world and lived like royalty. When the party came crashing down, most execs, except the CryptoQueen, lost it all. In 2019, Konstantin Ignatova testified that his sister made off with $500 million after the OneCoin blowup. Now though, a lawsuit filed by the Cryptocurrency Resolution Trust against "onecoinico.io" on April 27th, 2021, indicates the CryptoQueen might also have a stash of some 230,000 bitcoin worth roughly $10 billion at current prices. <a href="http://jlevy.co/wp-content/uploads/2021/05/OneCoinICOIO.pdf">Documents</a> filed in the British Indian Ocean Territory Supreme Court indicate the CryptoQueen obtained 230,000 bitcoin from Sheik Saoud, the son of one of the wealthiest individuals in Dubai. Sheikh Saoud reportedly purchased OneCoin's assets in exchange for 230,000 bitcoin on October 1, 2015, when the coins were worth $50 million. Pictures obtained by <a href="https://behindmlm.com/companies/onecoin/ruja-ignatova-disappeared-with-230000-btc-lawsuit-alleges/">Behind MLM</a> show the CryptoQueen's relationship with Sheik Saoud may have made it easier for her to evade the FBI and travel abroad. Saoud is the Secretary-General of the Intergovernmental Collaborative Action Fund for Excellence (ICAFE), a New York non profit corporation which issued "diplomatic credentials" to Ignatova. <h3>Recent updates</h3>Victims of the CryptoQueen have made their way to federal courts in New York and pushed for a certificate of default against Ruja Ignatova and financier Gilbert Armenta, and on May 17, the Court granted their request. "Regulators seems oblivious to the fact the cryptocurrency's main purpose is to facilitate and reward criminals like Ruja Ignatova. It is no coincidence that Ignatova is the main beneficiary of the Bitcoin bubble", said Dr. Jonathan Levy, an attorney for the Cryptocurrency Resolution Trust, per <a href="https://financefeeds.com/lawsuit-reveals-onecoin-scammer-cryptoqueen-holds-230000-btc-worth-13-billion/">Finance Feeds.</a> "The winners are clearly the bad guys: organized crime, money launderers, and market manipulators while the small-timers are continually defrauded, hacked, and abused," he added. The CryptoQueen remains on the run from authorities and hasn't been seen publicly since October of 2017. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things crypto, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-cryptocurrency-exchange-wazirx-has-listed-shiba-inu-tokens-for-trading-in-indian-rupees/articleshow/82731429.cms">Chiacoin claims to be an eco-friendly cryptocurrency — here's how it works</a> <a href="https://www.businessinsider.in/cryptocurrency/news/here-is-why-a-ban-on-cryptocurrencies-may-not-be-even-possible/articleshow/82741310.cms">Is a ban on cryptocurrencies even possible?</a> <a href="https://www.businessinsider.in/cryptocurrency/news/latin-america-and-south-asia-show-two-ends-of-the-crypto-regulatory-spectrum/articleshow/83638437.cms">Even as Latin America embraces Bitcoin, Southeast Asia is clamping down on cryptocurrencies</a>

Here's how an accused crypto fraudster known as the 'CryptoQueen' allegedly started a $4 billion Ponzi scheme and went on the run with 230,000 bitcoin

<ul class="summary-list"><li>The <keyword id="11916730" type="UNKNOWN" weightage="60" keywordseo="cftc" source="Orion">CFTC</keyword> announced charges against a bitcoin firm for defrauding investors out of $1.7 billion. </li><li><keyword id="14343204" type="UNKNOWN" weightage="60" keywordseo="mirror-trading-international" source="Orion">Mirror Trading International</keyword> operated as a fraudulent multi-level marketing scheme, the CFTC said. </li></ul>The Commodities Futures Trading Commission on Thursday <a href="https://www.cftc.gov/PressRoom/PressReleases/8549-22">charged Mirror Trading International</a> and the firm's owner, <keyword id="14343205" type="UNKNOWN" weightage="60" keywordseo="cornelius-steynberg" source="Orion">Cornelius Steynberg</keyword>, with <keyword id="11893299" type="UNKNOWN" weightage="60" keywordseo="fraud" source="Orion">fraud</keyword>, claiming the company operated as a fraudulent multi-level marketing scheme that scammed billions from investors. "This action is the largest fraudulent scheme involving Bitcoin charged in any CFTC case," the commission said in a statement. Investors who pooled funds in the company, which was advertised as a bitcoin trading pool, lost a total 29,421 Bitcoin, a value of over $1.7 billion.The firm, based in South Africa, advertised returns as high as 10% a month through investments manged by a trading "bot". CFTC documents state that Mirror Trading invented account figures and created "a fictitious broker at which the trading purportedly took place." Commissioner Kristin Johnson called the company a "Ponzi scheme" in a statement. Cryptocurrency investors have dealt with a wave of scams and hacks this year. Earlier this month, the FTC reported that over 46,000 crypto owners were scammed in 2021, accumulating losses of over a billion dollars in bitcoin, ether, and other digital assets. News of Steynberg's fraud also came on the same day the FBI announced a $100,000 reward for "Cryptoqueen" Ruja Ignatova, who stole $4 billion from victims in another scam. The Department of Justice on Thursday also charged six individuals with <a href="https://www.justice.gov/opa/pr/justice-department-announces-enforcement-action-charging-six-individuals-cryptocurrency-fraud">running various crypto schemes</a>.The CFTC said it was looking into <a href="https://affiliate.insider.com?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fcftc-signals-intent-to-increase-enforcement-of-crypto-related-cases-11652908480">heavier regulation of cryptocurrencies</a> last month, according to the Wall Street Journal. In the meantime, the commission stated it is in the process of returning funds to MTI's investors – although it may not fully recover the money members had in the pool.

The CFTC just charged a bitcoin firm with operating the 'largest ever fraud' involving the cryptocurrency

<ul><li><keyword id="12393531" type="General" weightage="100" keywordseo="vauld" source="Orion">Vauld</keyword> said that it is exploring all options with its financial and legal advisors.</li><li>The company won’t be accepting new requests at the moment, but will provide special instances for collateralized loans.</li><li>Vauld laid off 30% of its staff last month.</li></ul>Indian crypto exchange, Vauld, has suspended trading, deposits and withdrawals on its platform citing financial challenges amid the market’s recent bear turn. In an blog <a href="https://www.vauld.com/blog/corporate-statement/">statement</a> posted on its website, the company’s management informed users that it is “facing financial challenges.” <div type="ExtQuote" text="This is due to a combination of circumstances such as the volatile market conditions, the financial difficulties of our key business partners inevitably affecting us, and the current market climate which has led to a significant amount of customer withdrawals in excess of a $197.7 million since 12 June 2022 when the decline of the cryptocurrency market was triggered by the collapse of Terraform Lab’s UST stablecoin, Celsius network pausing withdrawals, and Three Arrows Capital defaulting on their loans." auname="Vauld CEO said in a blog statement on July 4, 2022."></div> Further, it said that it would be in the “best interest” of stakeholders to “take immediate action”. The firm has engaged <keyword id="166910" type="General" weightage="20" keywordseo="Kroll" source="Orion">Kroll</keyword> as its financial advisor, and law firm <keyword id="2839992" type="General" weightage="50" keywordseo="cyril-amarchand-mangaldas" source="Orion">Cyril Amarchand Mangaldas</keyword> and Rajah &amp; Tann Singapore LLP as their legal advisors, in India and Singapore, respectively. It said that the company will be exploring “all possible options” which include restructuring options. “We are currently in discussions with potential investors into the Vauld group of companies. We intend to apply to the Singapore courts for a moratorium i.e. a suspension of the commencement or continuation of any proceedings against the relevant companies so as to give us breathing space to carry out the proposed restructuring exercise,” the statement added. As it stands, the exchange’s customers will not be able to deposit or withdraw money from the platform, and the company won’t be processing any new requests or instructions from customers. It said that “specific arrangements” will be made for customers to meet margin calls in connection with collateralized loans. Backed by <keyword id="1972612" type="General" weightage="80" keywordseo="coinbase" source="Orion">Coinbase</keyword>, Vauld is the first crypto exchange in India to officially be impacted by the market’s recent downturn. The company laid off 30% of its staff last month, similar to global crypto platforms, which have also been affected by the market’s bear turn. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/blockfis-ceo-denies-that-sam-bankman-frieds-ftx-is-nearing-a-deal-to-buy-the-struggling-1-billion-crypto-lender-for-25-million/articleshow/92603060.cms">BlockFi's CEO denies that Sam Bankman-Fried's FTX is nearing a deal to buy the struggling $1 billion crypto lender for $25 million</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/the-fbi-is-offering-a-100000-reward-for-missing-bulgarian-cryptoqueen-and-has-added-her-to-its-top-10-most-wanted-list/articleshow/92597670.cms">The FBI is offering a $100,000 reward for missing Bulgarian 'Cryptoqueen' and has added her to its top 10 most-wanted list</a>

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The FBI is offering a $100,000 reward for missing Bulgarian 'Cryptoqueen' and has added her to its top 10 most-wanted list

Isobel Asher Hamilton

Property documents for a London apartment suggest wanted 'crypto-queen' is alive after allegedly vanishing in 2017 with $4 billion from investors

Jordan Hart

From anti-war activists to the 'Crypto-queen,' here are the 11 women who have made the FBI's most wanted in its 72-year history

Sarah Al-Arshani

Here's how an accused crypto fraudster known as the 'CryptoQueen' allegedly started a $4 billion Ponzi scheme and went on the run with 230,000 bitcoin

Will Daniel

The CFTC just charged a bitcoin firm with operating the 'largest ever fraud' involving the cryptocurrency

Jennifer Sor

Coinbase-backed Indian crypto exchange Vauld suspends trading, deposits and withdrawals amid market downturn

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