US Opens Compensation Claims for OneCoin Victims
The US Department of Justice is offering over $40 million in forfeited assets to victims of the $4 billion OneCoin crypto fraud.Summary
The U.S. Department of Justice has initiated a compensation process for victims of the OneCoin cryptocurrency Ponzi scheme, which defrauded individuals of an estimated $4 billion. Over $40 million in forfeited assets, seized from those involved in the scheme, is now available to compensate individuals who purchased OneCoin between 2014 and 2019 and incurred a net loss. The scheme, launched in 2014 by Ruja Ignatova and Karl Sebastian Greenwood, falsely marketed itself as a cryptocurrency with the aim of surpassing Bitcoin. It collapsed as its lack of utility became apparent and global investigations commenced. While the Justice Department estimates losses of over $4 billion from approximately 3.5 million victims between 2014 and 2016, some global loss estimates reach $19 billion. Greenwood was sentenced to 20 years in prison in September 2023, while Ignatova remains a fugitive, with the FBI offering a $5 million reward for information leading to her capture.
(Source：Cointelegraph)