U.S. Department of Justice Launches Victim Compensation Program for OneCoin, Over $40 Million in Assets Available for Claims

According to Cointelegraph, the U.S. Department of Justice has officially launched a restitution program for victims of the OneCoin cryptocurrency Ponzi scheme. Victims who purchased OneCoin between 2014 and 2019 and incurred a net loss are eligible to apply for compensation; over $40 million in seized assets is currently available for restitution. OneCoin was founded in Bulgaria in 2014 by Ruja Ignatova and Karl Sebastian Greenwood. It once ranked as the world’s second-largest cryptocurrency by market capitalization before collapsing due to its tokens’ complete lack of utility. Approximately 3.5 million victims worldwide lost over $4 billion—some estimates place the losses as high as $19 billion. Co-founder Greenwood was sentenced in 2023 to 20 years’ imprisonment; the other co-founder, Ignatova, has been missing since 2017 and is currently on the FBI’s “Ten Most Wanted” list, with a $5 million reward offered for information leading to her capture.