At the beginning of 2014, a beautiful Bulgarian young woman named 'Ruja Ignatova' emerged. She studied law at the prestigious University of Oxford and later obtained her doctorate from the University of Konstanz in Germany, announcing the establishment of a company to manage digital assets named #OneCoin along with a currency project bearing the same name. She promoted it as a revolutionary digital currency backed by advanced blockchain technology capable of competing with #البيتكوين and other digital currencies, only to later reveal that all these claims were mere lies, as there was no real blockchain or encryption technology behind the currency, and the currency itself was non-tradable in real markets.
The Elegant Fraudster:
Ruja used her elegant appearance, academic and financial background, and her work in law to convince investors and businessmen of the credibility of the OneCoin project and that it was an easy and profitable investment opportunity, attracting thousands of people from around the world, especially from Europe, Asia, and Africa.
They operated with a Ponzi Scheme system, where investors purchased 'educational packages' containing units of 'OneCoin' and were promised huge and quick returns, with claims that the value of the currency would rise significantly in the future.
Uncovering the Fraud:
After two years, doubts began to arise about the OneCoin currency, and the media and regulatory bodies started investigating the project, revealing that the currency did not have a real blockchain technology, and that the alleged value of the currency was completely illusory. However, after the funds raised by the company reached about $4 billion, they were used to finance a lavish lifestyle for the officials instead of developing the currency.
The Disappearance of Ruja:
In 2017, she suddenly disappeared after international investigations began to widen, and she was accused of fraud and money laundering. Interpol issued an international arrest warrant against her.
Subsequently, many individuals involved in the OneCoin project were arrested, including 'Konstantin', Ruja's brother, and several people connected to this project were convicted in the United States and Europe.
However, 'Ruja' remains missing to this day, and it is believed that she is living under a false identity in an unknown country after defrauding and seizing the savings and money of the unfortunate investors.
Conclusion:
This case is considered one of the largest scandals and frauds in the history of digital currencies, to the extent that the media dubbed the main person responsible, 'Ruja Ignatova', the 'Queen of Fake Bitcoin'.
Her story and the story of 'OneCoin' became a cautionary tale for investors about the importance of verifying the credibility of investment projects, demonstrating how false promises and misleading marketing can deceive even seasoned investors, let alone small traders and those unfamiliar with the craft.
