Sunday, Sep 24, 2023
English News
  • Hyderabad
  • Telangana
  • AP News
  • India
  • World
  • Entertainment
  • Science and Tech
  • Sport
  • Business
  • Rewind
  • ...
    • NRI
    • View Point
    • cartoon
    • Columns
    • Education Today
    • Reviews
    • Property
    • Videos
    • Lifestyle
E-Paper
  • NRI
  • View Point
  • cartoon
  • Columns
  • Reviews
  • Education Today
  • Property
  • Videos
  • Lifestyle
Home | News | Fbi Offers 100k For Info On Crypto Queens Whereabouts In Fraud Case

FBI offers $100K for info on Crypto Queen’s whereabouts in fraud case

San Francisco: The Federal Bureau of Investigation (FBI) in the US has offered a reward of up to $100,000 for information leading to the arrest of ‘Crypto Queen’ Ruja Ignatova. The FBI, which added her to its ‘Ten Most Wanted Fugitives’ list, said that Ignatova is being sought for her alleged leadership of a massive […]

By IANS
Published Date - 12:00 PM, Sat - 2 July 22
FBI offers $100K for info on Crypto Queen’s whereabouts in fraud case
whatsapp facebook twitter telegram

San Francisco: The Federal Bureau of Investigation (FBI) in the US has offered a reward of up to $100,000 for information leading to the arrest of ‘Crypto Queen’ Ruja Ignatova.

The FBI, which added her to its ‘Ten Most Wanted Fugitives’ list, said that Ignatova is being sought for her alleged leadership of a massive fraud scheme that affected millions of investors worldwide.

In 2014, Ignatova and her partner founded OneCoin, a Bulgarian-based company that was marketed as a new virtual currency that would be the “Bitcoin killer”.

Ignatova allegedly made false statements and representations about OneCoin to draw people to invest in OneCoin packages.

According to investigators, Ignatova and her partner also promoted OneCoin through a multi-level marketing strategy that urged OneCoin investors to sell additional packages to friends and family, the FBI said in a statement.

“OneCoin claimed to have a private blockchain. This is in contrast to other virtual currencies, which have a decentralised and public blockchain. In this case, investors were just asked to trust OneCoin,” said Special FBI Agent Ronald Shimko.

Ignatova capitalised on the excitement surrounding cryptocurrencies to draw in new investors.

While the company is said to have used many of the terms associated with virtual currencies, investigators believe that OneCoins were not mined in the way traditional to cryptocurrencies.

In addition, the value of OneCoin was determined by the company rather than market demand, said the FBI.

Throughout the scheme, OneCoin is believed to have defrauded victims all over the world out of billions.

Ignatova targeted individuals who may not have fully understood the ins and outs of cryptocurrencies but were moved by her impressive resume and the marketing strategies used by OneCoin.

“There are so many victims all over the world who were financially devastated by this,” Shimko said. “We want to bring her to justice.”

Ignatova is only the 11th woman to have been selected to be on the FBI’s Ten Most Wanted Fugitives list in its 72-year history.

“She is currently 42 years old and has brown eyes and dark brown to black hair. Investigators, however, believe she could have altered her physical appearance,” said the FBI.

Telangana Today Whatsapp
  • Follow Us :
  • Tags
  • FBI

Related News

  • Donald Trump responds to gag order request in election interference case

    Donald Trump responds to gag order request in election interference case

  • Maui fire missing list falls slightly to 385

    Maui fire missing list falls slightly to 385

  • Trump pleads not guilty to latest charges in classified documents case

    Trump pleads not guilty to latest charges in classified documents case

  • Trump receives setback in campaign trail for Republican primaries

    Trump receives setback in campaign trail for Republican primaries

  • Indian-American woman appointed as head of FBI field office in Salt Lake City

    Indian-American woman appointed as head of FBI field office in Salt Lake City

  • Editorial: Moment of disgrace

    Editorial: Moment of disgrace

Latest News

  • TN to begin survey of differently-abled people from Sep 29 to create database

    8 mins ago
  • UP: ASI orders probe into death of French tourist in Fatehpur Sikri

    18 mins ago
  • Asian Games Visa row: Discriminatory approach is against Olympic Charter, says Union Minister

    28 mins ago
  • Jyotiraditya Scindia, Arunachal Pradesh CM to inaugurate upgraded Tezu Airport today

    33 mins ago
  • US provided Canada with intelligence on Nijjar’s killing: NYT

    39 mins ago
  • Harry Kane scores his first hat trick in Germany as Bayern demolishes Bochum 7-0

    44 mins ago
  • Tech salaries in US decline amid record-breaking inflation, market turbulence

    48 mins ago
  • Akhilesh asks party cadres to aim for 60 per cent votes in 2024 LS polls

    54 mins ago

company

  • Home
  • About Us
  • Contact Us

business

  • Subscribe

telangana today

  • Telangana
  • Hyderabad
  • Latest News
  • Entertainment
  • World
  • Andhra Pradesh
  • Science & Tech
  • Sport

follow us

© Copyrights 2022 TELANGANA PUBLICATIONS PVT. LTD. All rights reserved. Powered by Veegam