FBI Urges OneCoin Scam Victims to File Compensation Claims Before June 30

The Federal Bureau of Investigation (FBI) and the U.S. Department of Justice (DOJ) are encouraging victims of the infamous OneCoin cryptocurrency fraud to submit claims for possible financial compensation before the June 30 deadline.

Individuals who invested in the OneCoin scheme and suffered a net financial loss can apply through the DOJ's official remission program. The department has launched a dedicated online portal where eligible victims who purchased OneCoin packages between 2014 and 2019 can file petitions. While submitting a claim is required for consideration, the DOJ emphasizes that filing does not guarantee reimbursement.

OneCoin is widely regarded as one of the largest cryptocurrency scams in history. The fraudulent project was launched in Bulgaria in 2014 by Ruja Ignatova, also known as the "Cryptoqueen," and her associate Karl Sebastian Greenwood. The scheme falsely promoted OneCoin as a revolutionary digital currency capable of surpassing Bitcoin, attracting millions of investors worldwide.

Rather than operating as a legitimate cryptocurrency, OneCoin relied on a multi-level marketing (MLM) structure. Investors were persuaded to purchase expensive educational and investment packages that supposedly included mining tokens. Participants were also encouraged to recruit friends, relatives, and new members, helping the fraud expand rapidly across multiple countries.

In reality, the tokens, mining system, and underlying technology had no real value. Authorities estimate that investors collectively lost more than $4 billion, making OneCoin one of the biggest Ponzi schemes ever linked to the cryptocurrency industry.

Legal action has resulted in significant convictions. Karl Sebastian Greenwood was sentenced to 20 years in federal prison on September 12, 2023, for his role in the fraud. However, Ruja Ignatova remains one of the FBI's most wanted fugitives. The agency continues its international search and is offering a reward of up to $5 million for credible information leading to her arrest or conviction.

Former OneCoin investors who believe they qualify should submit their claims before the June 30 deadline to ensure they are considered during the DOJ's compensation review process.