Missing 'Cryptoqueen' Ruja Ignatova is alive and being hidden by criminal cartels, claims a BBC investigative journalist

Ruja Ignatova, the alleged mastermind of the billion-dollar OneCoin scam, is alive and being sheltered by international criminal cartels, while those close to her are running a new scheme, according to investigative journalist Yordan Tsalov from the BBC, as reported by BNT on November 24.

Ignatova, also known as the “Cryptoqueen”, is alleged to have swindled millions of people who invested in what turned out to be a non-existent cryptocurrency called OneCoin. Ignatova is one of the FBI's top three most wanted individuals. The reward for information leading to her arrest is $5 million.

Ruja Ignatova is charged with leading an organized crime group. In addition to embezzling funds from investors, OneCoin laundered vast sums of money for cartels and oligarchs, much of which is currently frozen. Tsalov suggests that Ignatova might be alive because only her signature can authorize legal actions to contest these asset freezes in court. He cited a recent case in August where her proxy successfully unblocked $50 million through a court in Dubai.

"Either she is indeed alive, or her lawyers have forged documents. Given the huge sums and the involvement of global organised crime groups, it’s highly likely they are keeping her alive somewhere—possibly in South Africa or Russia, according to various speculations," Tsalov said.

A new lead emerged suggesting Ignatova is alive and hiding in Cape Town, following a report from a local publication that referenced a protected witness. This theory is further supported by the murder of her associate Krasimir Kamenov, known as "Kuro," in South Africa last year, which points to Ignatova's involvement in large-scale money laundering, according to Tsalov.

"Another example is her adviser Frank Schneider, who was under house arrest in France. We interviewed him at the BBC, and he revealed her connections with organised crime groups. Before he could be extradited to the U.S., he disappeared," added Tsalov.

While the FBI continues its global search for Ignatova, individuals close to her, who have access to OneCoin's database of defrauded investors, have launched a new scam. They contact victims, offering to help recover their investments for an upfront fee of 100 euros. Hundreds of thousands of people have fallen for the scheme again, generating profits in the millions of euros.

"I have no doubt, given the type of people involved in this, that it’s entirely possible," Tsalov stated.

Ruja Ignatova's assets worth $10 million have been seized, and she faces charges in absentia.

The OneCoin office in Sofia has remained closed since 2017 when Ignatova disappeared, embezzling over $4 billion and becoming the target of an international FBI investigation.

In September 2023, OneCoin co-founder Karl Greenwood was sentenced to 20 years in prison. In January, Mark Scott, Ignatova's attorney and a key money launderer, was sentenced to 10 years, while in April, Irina Dilkinska, a Bulgarian and former head of legal department at OneCoin, received a 4-year sentence. All three were convicted by a U.S. federal court.