German authorities have recovered around €10.1 million linked to Ruja Ignatova, the founder of the OneCoin cryptocurrency scheme. The money is expected to be used to compensate people who lost money in the fraud.
Ignatova, widely known as the “Cryptoqueen,” has been missing since 2017. Despite an international search, her current location remains unknown. German prosecutors are continuing efforts to recover assets connected to the OneCoin case.
The recovered funds came from the sale of two apartments in London. German prosecutors worked with authorities in other countries to secure the money.
The properties were reportedly bought through companies linked to Ignatova. Authorities believe the assets were connected to money made through the OneCoin scheme.
The €10.1 million will be directed toward compensation for victims. People in Germany and other European countries who made certain payments connected to OneCoin may be able to contact the Bielefeld prosecutor’s office and provide proof of their payments. Authorities will then check whether they are eligible for compensation.
OneCoin was launched in 2014 and was promoted as a major rival to Bitcoin. However, investigators later found that it was not a real cryptocurrency as presented to investors.
The scheme used a pyramid-style business model and attracted millions of people around the world. German authorities say more than 17,500 victims are listed in the case against Ignatova, with losses of around €57 million in the period covered by the German charges. Worldwide losses from OneCoin are believed to have reached billions of dollars.
Ignatova disappeared on October 25, 2017, after travelling from Sofia to Athens. She has not been seen since. The FBI, Europol, and Interpol have all been involved in efforts to find her. The FBI has also placed her on its Ten Most Wanted Fugitives list.
German prosecutors charged Ignatova in 2025 in an effort to prevent the alleged crimes from reaching the legal time limit. Authorities say the charges could otherwise become time-barred in 2031.
The latest asset recovery gives some victims a chance to receive part of their lost money. It also shows that authorities are continuing to trace and recover assets connected to one of the largest crypto fraud cases.
Ignatova, however, remains missing, and the international search for the Cryptoqueen continues.