- Creator of One Coin is on the run with £3.5 Billion
- Scammer created fake crypto setup to steal billions
- Dr Ruja Ignatova is behind the whole thing
The creator of One Coin, now known as one of the most prolific scams in cryptocurrency history, Dr Ruja Ignatova is alleged to be on the run with around £3.5 Billion to help fund her lavish, incognito lifestyle. This equates to around $4.5 Billion, suggesting that Ignatova has quite a financial advantage here.
Ignatova was one of the early advocates of cryptocurrency, so much so that she created the One Coin platform, a cryptocurrency project that encouraged the investment of millions of dollars through thousands of investors. The catch however was simply that the whole thing was a scam, eventually Bulgarian born Ignatova would disappear, with no trace of the $4.5 Billion raised through the false investments.
So, how did all of this happen? As we have said, Ignatova was an advocate of cryptocurrency, she seemed to have a passion for encouraging other people to buy into Bitcoin, and of course, One Coin:
“The charismatic 36-year-old told the crowd that it was not too late to join a financial revolution that would become bigger than Bitcoin within just a couple of years. She urged them to invest. And the audience lapped it up, as they did at similar events in Dubai, Macau and Singapore. OneCoin promoters were hard at work in seminars and computer chat rooms around the world, in fact, and the reward was spectacular. By March 2017, more than £3.5 billion had been invested in the OneCoin system from 175 countries. It is thought around £100 million of that came from the UK.”
You might ask at this point, how exactly did these people fall for it? Sadly, Ignatova was very clever with her scam, she appeared as an expert and as a true pioneer of cryptocurrency and blockchain technology. There’s no doubting her intelligence, however we do have to wonder if she was clever enough to design this whole thing as a scam from the start, or, if she decided part way through the One Coin journey that she could make bigger money by running away with the lot, now.
We must also remember, just how loved and admired Dr Ignatova was:
“Supporters described Dr Ruja as the next Mark Zuckerberg. She was said to have an IQ of more than 200. The Bulgarian was pictured on the cover of Forbes magazine, which specialises in wealthy individuals. Social media was awash with pictures and clips of Dr Ruja, including a dazzling performance at a European conference organised by The Economist. Blessed with a magnetic personality and good looks, she wielded a cult-like influence, according to disillusioned former followers.”
It is now alleged that Ignatova has fled to Germany and could be hiding out in the country. It looks as if she has a lot of money to fund her disappearance, but with the force of the FBI now on the case, we can’t imagine she’s going to manage to stay incognito for very long. Hopefully soon enough the authorities can close this case down and investors can eventually start to make some of their lost money back.