Ruja Ignatova, known as the "Cryptoqueen," founded OneCoin in 2014, promoting it as a rival to Bitcoin. However, OneCoin was a scam with no real blockchain, operating as a Ponzi scheme. By 2017, Ignatova disappeared after boarding a flight from Bulgaria to Greece and was later placed on the FBI’s most-wanted list. Her brother, Konstantin Ignatov, was arrested in 2019 for his involvement. OneCoin raised an estimated $4.4 billion, making it one of the largest financial frauds in history. The scam highlighted the risks of unregulated cryptocurrency investments and increased calls for industry regulation. Ignatova remains at large, and the case serves as a cautionary tale about crypto fraud.

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