The US Department of Justice has announced the launch of a compensation process for victims of the OneCoin cryptocurrency fraud scheme, with more than $40 million in recovered assets now available for distribution.
The scheme, which was run by Ruja Ignatova and Karl Sebastian Greenwood between 2014 and 2019, defrauded investors around the world of more than $4 billion.
OneCoin was marketed as a legitimate cryptocurrency through a global multi-level marketing network, and was later exposed as a scam built on false claims and misrepresentations.
Ministry of Justice He says Victims who purchased OneCoin during that period may now be eligible to recover a portion of their losses through a remission process.
Claims must be submitted by June 30 through the formal petition system administered by the department’s Asset Forfeiture Program.
Authorities are highlighting the extent of the fraud, with one federal official suggesting that victims were misled by false statements and empty promises tied to an investment that never worked as advertised.
The Ministry of Justice also warns victims to remain vigilant against secondary fraud, stressing that no payment is required to participate in the official compensation process.
This case remains one of the largest cryptocurrency scams on record, and efforts are continuing to identify and recover additional assets.
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