Ruja Ignatova, Founder of OneCoin, Steals Crypto Investors' Money Up to Billions of US Dollars

Ruja Ignatova was born in Ruse, Bulgaria, in 1980 to a Romani family. At the age of 10, she moved to Germany with her family. Her father worked at a tire shop, and they lived in a small apartment above a butcher shop. Despite coming from a less fortunate family, Ruja was known as a smart child who always got good grades in school. In 2012, Ruja Ignatova was convicted in Germany for fraud related to a company acquisition by her father, Plamen Ignatov. The company later went bankrupt, and Ruja was sentenced to 14 months probation. After being released, she began to learn about Bitcoin in 2013, when Bitcoin was booming at a price of 500 USD.

Ruja studied the mechanism of Bitcoin and quickly mastered it. In November 2013, she was invited to Singapore to speak at a cryptocurrency seminar. There, she met Sebastian Greenwood, and together they founded OneCoin in 2014.

OneCoin is a Ponzi scheme based on cryptocurrency, operated by OneCoin Ltd and OneLife Network Ltd. Its main business was selling course materials similar to MLM schemes, where buyers of these materials would receive tokens to mine OneCoins. The materials sold often plagiarized other systems.

Ruja frequently promoted OneCoin, attracting many buyers with promises of huge profits. Although the course materials might be useful, most people were more tempted by the mining tokens. The highest price offered by OneCoin reached 5,000 USD.

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