Was the abrupt disappearance of Ruja Ignatova a cover-up by law enforcement or something much darker?
Ignatova, a banker who was born in Bulgaria and attended Oxford University, gained notoriety as the “Cryptoqueen” after defrauding investors of an astounding $4.5 billion using her fictitious cryptocurrency, OneCoin.
When Ruja disappeared without a trace in October 2017, her story took an even more sinister turn.
Her tale, which combines aspects of organized crime, enormous sums of money, and horrific bloodshed, has since become the stuff of legends.
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The most recent developments in Ruja’s story originate from a comprehensive BBC investigation. Their research indicates that Taki, a putative leader of the Bulgarian organized criminal group, was closely connected to Ruja.
There are claims that Taki, who was meant to be her protector, may have betrayed her, potentially even giving the order to kill her.
Let’s examine what is known about her and the various speculations regarding the possible fate of the mysterious Cryptoqueen.
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Multi-billion-dollar cryptocurrency Ponzi scheme.
OneCoin assured investors of the same high profits that the early adopters of Bitcoin (BTC) experienced. OneCoin, however, was not supported by blockchain technology, in contrast to Bitcoin.
As it happens, OneCoin was never really a cryptocurrency. Members of the pyramid marketing scheme were urged to purchase coins and enlist new people to join them.
The top of the pyramid was made out like a bandit, while the rest of us were left holding the bag. The market for OneCoin lacked liquidity. Your currency could not be transferred, bought, or sold. Asking Ignatova or converting it into a different currency was the only option to pay out.
Ruja Ignatova’s sudden disappearance.
This scam proceeded until Ignatova’s abrupt disappearance in 2017 as police started to pursue her.
Ignatova escaped from Sofia, Bulgaria, to Athens, Greece, in October 2017, just before she was about to be arrested by German and American authorities. She hasn’t been spotted in public since.
She was slain in late 2018 on Taki’s orders, according to a police informant’s report, and her body was dismembered and dumped into the Ionian Sea.
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Leaked documents and remarks from Taki’s allies bolster the informant’s assertion, which the BBC and other official sources have not confirmed. Taki is also suspected of laundering money from his drug trafficking enterprises using OneCoin.
Disappearance of Ruja Ignatova
Ignatova is still listed as one of the FBI’s Ten Most Wanted, despite these allegations. The FBI is willing to pay $100,000 for any information that leads to her capture, indicating that they think she may still be alive. People are usually taken off this list by the FBI only in cases where they have hard proof of having passed away.
Additionally, according to allegations from bird.bg, Taki may have killed Ignatova deliberately in order to neutralize a possible danger.
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It’s possible that Taki, who has been connected to a number of crimes, including drug trafficking and murder, saw Ignatova as a problem once she went on the run and made the decision to get rid of her.
OneCoin frauds with the help of Frank Schneider.
With the assistance of Frank Schneider, Ignatova executed one of the largest cryptocurrency scams in history. Schneider, the head of Luxembourg’s intelligence service and a former spy, was essential to keeping OneCoin running.
He started Sandstone, a private investigation company, after quitting the intelligence agency, which was vital to Ignatova’s plot.
Schneider played a key role in communicating with the public relations consultants and attorneys who kept the OneCoin hoax afloat.
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Because of his intelligence experience, he was able to obtain sensitive material, which he reportedly used to give Ignatova private police information so she could keep one step ahead of the law. Schneider, nevertheless, continually refuted these accusations.
Schneider was taken into custody by French police in April 2021, close to the border with Luxembourg. He was first detained for seven months before being put under home arrest and waiting to be extradited to the US.
Schneider stated his mistrust of the American court system in December 2022, even after losing an appeal against his extradition. He expressed concerns that he wouldn’t get a fair trial and criticized the system’s dependence on plea deals.
He claimed he couldn’t afford the five to eight million dollars he believed his legal defense would cost.
Unexpectedly, Schneider vanished in May 2023—right before his extradition was set to take place. Even with an ankle tag, the French authorities haven’t been able to find him.
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There is much conjecture regarding Schneider and Ignatova. Schneider’s whereabouts are still unclear, but his disappearance raises the possibility that he has strong allies who are assisting him in avoiding capture.
In a similar vein, Ignatova’s fate remains a mystery. Theories range from her being slain to her being alive and hidden behind criminal networks.