The US Department of Justice has launched a compensation process for victims of OneCoin.

US Justice Department Opens Compensation Process for OneCoin Victims

The US Department of Justice has launched a compensation process for victims of the OneCoin crypto Ponzi scheme. Anyone who bought OneCoin between 2014 and 2019 and suffered net losses can apply. More than $40 million in seized assets are currently available for compensation. Prosecutors said the move is aimed at returning some of the illicit proceeds to victims.

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 cap before collapsing as the token had no real utility. An estimated 3.5 million victims worldwide lost over $4 billion, with some estimates as high as $19 billion. Co-founder Greenwood was sentenced to 20 years in prison in 2023. Ignatova has been missing since 2017 and is now on the FBI's "Ten Most Wanted" list, with a $5 million reward for information leading to her capture.