DOJ opens compensation process for OneCoin fraud victims as Cryptoqueen remains on FBI's most wanted list
The Justice Department launched a remission program for victims of the $4 billion OneCoin cryptocurrency Ponzi scheme, with claims due by June 30. Co-founder Ruja Ignatova has been missing since 2017.
The Department of Justice announced on April 13 that victims of the OneCoin cryptocurrency fraud can now file claims for compensation through a federal remission process. Investors who purchased OneCoin between 2014 and 2019 and suffered net losses may be eligible for payments from assets the government seized during its prosecution of the scheme.
Claims must be filed by June 30, 2026 through the official program website at onecoinremission.com or by mail to the administrator, Kroll Settlement Administration. No fees are required to file, and no attorney is necessary.
The scheme
OneCoin was a cryptocurrency Ponzi and pyramid scheme that operated from approximately 2014 to 2019, defrauding an estimated $4 billion from investors across 175 countries. At its peak, the scheme had approximately 3 million participants.
The company, founded by Ruja Ignatova and Karl Sebastian Greenwood, marketed OneCoin as a new virtual currency. In reality, there was no blockchain. The company maintained its own internal database of "coins" with no mining process and no way to use the tokens outside the OneCoin ecosystem. Early investors were paid with money from newer recruits -- the defining structure of a Ponzi scheme.
The prosecutions
The U.S. Attorney's Office for the Southern District of New York brought two cases against OneCoin's leadership (1:17-CR-00556 and 1:17-CR-00630):
| Defendant | Role | Outcome |
|---|---|---|
| Karl Sebastian Greenwood | Co-founder | Sentenced to 20 years in federal prison |
| Konstantin Ignatov | Ruja's brother, took over operations | Pleaded guilty (2019) |
| Mark Scott | Locke Lord LLP partner | Convicted of laundering $400 million of OneCoin proceeds; sentenced to 10 years |
The Cryptoqueen
Ruja Ignatova, the co-founder known as the "Cryptoqueen," traveled from Sofia, Bulgaria, to Athens, Greece, on October 25, 2017 -- and has not been seen since. She is on the FBI's Ten Most Wanted Fugitives list. The State Department is offering up to $5 million for information leading to her arrest.
The remission program represents the government's effort to return forfeited assets to the people who lost money. The DOJ did not disclose how much has been recovered for distribution.
How to file
Victims can submit a petition for remission online at onecoinremission.com or by mail to: OneCoin Remission, c/o Kroll Settlement Administration LLC, P.O. Box 225391, New York, NY 10150-5391. The contact number is 1-833-421-9748. Claims must include documentation of losses and must be postmarked or submitted online by June 30, 2026.
The DOJ warns that neither the government nor the administrator will ever charge fees. Victims who are contacted by anyone requesting payment should report it.