She is a Bulgarian-German con artist known for founding OneCoin, which later turned out to be one of the largest Ponzi schemes in history. Born on May 30, 1980, in the Bulgarian city of Ruse, she immigrated to Germany with her family at the age of ten. She obtained a PhD in international law from the University of Constance and claimed to have worked at McKinsey before entering the world of financial crime.
In 2014, Ignatova launched her currency OneCoin, claiming it was a strong competitor to Bitcoin. She succeeded in attracting investors from over 100 countries, promising astronomical returns, claiming that the currency was backed by blockchain technology, which was a lie, and collected $4 billion from victims, while some reports estimated the losses at £12.9 billion. She used inflammatory rhetoric, stating in 2016 that in two years no one would talk about Bitcoin.
In October 2017, Ignatova disappeared after a trip from Sofia to Athens, leaving behind a fake company and a brother who later confessed to his crimes. Since then, the FBI added her to the list of the 10 most wanted in 2022, with a $5 million reward for information leading to her arrest. It is believed she is using fake passports and may have undergone plastic surgery or been killed by the Bulgarian mafia. Europol included her on their wanted list but criticized the low rewards offered, only £4,100.
She is hard to find due to a strong network of relationships, with suspicions of powerful figures in Bulgaria leaking police investigations to her before her disappearance. There is a lack of physical evidence, as her last confirmed appearance was at Athens airport, and there are no recent photos. Her escape tactics suggest she may be hiding in countries like Russia or Greece with the help of armed guards.
Despite the fraud being exposed, OneCoin continues to promote itself in some African and Latin American countries, increasing the number of victims. Its story has also inspired TV series and media investigations, such as the BBC podcast 'The Missing Crypto Queen'.
Ruja Ignatova represents a model of cross-border financial crime, combining academic intelligence and criminal audacity. While she remains a mystery, her case reminds the world of the dangers of investing in unlicensed projects.