Rising Price Figures on OneCoin’s Website Were Random Entries by an Employee
- OneCoin scam is still one of the largest and most successful scams to date, with its perpetrator, Dr. Ruja Ignatova, still at large.
- The scam took place in 2016/2017, and it resulted in an estimated $4 billion being stolen from tricked investors.
- The scammer, also known as Cryptoqueen, disappeared as the truth about the project begin to unravel, with her last known whereabouts being in Athens, Greece.
Cryptoqueen scammed the world back in 2016 when she convinced people to invest billions into a cryptocurrency called OneCoin. According to her, OneCoin was a major success that could rival Bitcoin, or even be better. At the time, cryptocurrencies were only beginning to gather the attention they have today. Even so, many were looking to get involved and
make a profit, which is what Cryptoqueen promised. Ignatova claimed that
OneCoin is a Bitcoin Killer and that the first cryptocurrency doesn’t stand a
chance against her OneCoin in the long run. Soon enough, investments started coming in,
with the UK investors investing over $30 million within a few months. The rest
of the world got tricked as well, and Dr. Ruja Ignatova managed to raise
billions, without ever even having a blockchain. Meanwhile, cryptocurrency enthusiasts and Bitcoin supporters quietly studied the OneCoin. They quickly discovered its lack of an actual blockchain, and that the project was a scam. Convincing OneCoin’s investors, however, was a lengthy and difficult process, which did work over time. The biggest step was educating people about what blockchain is, how it works, and why it is crucial for the crypto industry. The only conclusion was that the coin’s good
performance was a scam, a pyramid scheme, and that the rising price was fake.
It was simply typed into a computer by one of the OneChain’s employees While some did realize that the project was a
scam — most did not, refusing to believe online strangers over Cryptoqueen.The disappearance
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As for Cryptoqueen herself, she spent 2016 traveling around the world, giving speeches and secretly buying multi-million dollar properties, luxurious yachts, and alike. This situation continued well into 2017, although problems started to emerge. Investors expected the launch of an exchange where they could sell their OneCoin tokens for fiat currencies, but the exchange never saw the launch.
The company promised that Cryptoqueen would explain everything during the event in Lisbon, Portugal, in October 2017. However, when the event took place, — Dr. Ruja never appeared. In fact, no one ever heard from her again. The authorities and crypto enthusiasts have been searching for her ever since.
The search for the Cryptoqueen lasts to this day, with Athens being her last known location. There were many theories that have emerged regarding where she is or what she might be doing, or if she is even alive. For now, however, Dr. Ruja Ignatova remains completely off the radar.
