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FBI Puts 'Cryptoqueen' on Most Wanted List

She allegedly defrauded investors out of more than $4 billion.

Nina Raemont Writer
A recent graduate of the University of Minnesota, Nina started at CNET writing breaking news stories before shifting to covering Security Security and other government benefit programs. In her spare time, she's in her kitchen, trying a new baking recipe.
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Nina Raemont
Person in FBI jacket looking through binoculars.

The FBI is on the lookout for the "cryptoqueen." 

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The FBI on Thursday added Ruja Ignatova, who authorities have dubbed the "cryptoqueen," to their list of most wanted fugitives. Ignatova allegedly took part in a large-scale fraud scheme involving the cryptocurrency onecoin.

In 2018, law enforcement charged Ignatova with one count each of wire fraud, conspiracy to commit wire fraud, conspiracy to commit money laundering, securities fraud and conspiracy to commit securities fraud, according to an FBI release.

Ignatova was the founder of OneCoin Ltd., a multilevel marketing-operated cryptocurrency company that reportedly generated billions of dollars in revenue from 2014 to 2016. However, prosecutors said, the coin had no real value. OneCoin allegedly defrauded victims out of more than $4 billion. 

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"In order to execute the scheme, Ignatova allegedly made false statements and representations to individuals in order to solicit investments in OneCoin," the FBI said. 

The world of cryptocurrency is no stranger to scams and schemes. While cryptocurrencies like bitcoin and ethereum are well established, pump-and-dump schemes and other scams plague the ecosystem. In early June, the FTC reported that crypto scams have cost consumers more than $1 billion since the start of 2021.

Those with tips on Ignatova's whereabouts could get a reward of up to $100,000 for information leading to her arrest. To submit information regarding the cryptoqueen, call the FBI at 1-800-CALL-FBI or online at tips.fbi.gov.