US Department of Justice Launches Compensation Program for OneCoin Victims

DOJ Opens Claims Process

The United States Department of Justice has begun accepting claims from individuals defrauded by the OneCoin cryptocurrency pyramid scheme. Approximately $40 million in confiscated assets is currently available for distribution to victims.

Between 2014 and 2019, OneCoin's operators collected more than $4 billion from investors worldwide. An estimated 3.5 million people fell victim to the fraudulent scheme.

Claims can be filed through the Kroll program, with a submission deadline of June 30. The required forms are available on the program's official website, according to the regulator.

Why This Matters

OneCoin ranks among the largest fraudulent schemes in cryptocurrency history. The staggering $4 billion in losses and millions of victims across the globe turned this case into a landmark for law enforcement in the digital asset space. While the launch of payouts represents a meaningful milestone, the available $40 million covers only a fraction of total investor losses.

Criminal Prosecutions in the OneCoin Case

Co-founder Ruja Ignatova remains at large. The FBI placed her on its Ten Most Wanted Fugitives list in June 2022, offering a $250,000 reward for information leading to her arrest. The US State Department separately announced a reward of up to $5 million for information on her whereabouts.

While Ignatova evades justice, several of her associates have been convicted across multiple jurisdictions:

• Germany, October 2022: Ignatova's lawyer was convicted after transferring $23.6 million to the Cayman Islands to purchase apartments in London. A married couple who processed $377 million in OneCoin client payments over one year was also sentenced. They faced charges of money laundering, fraud, and banking crimes.
• Karl Sebastian Greenwood, OneCoin co-founder, pleaded guilty to fraud and money laundering in the US in December 2022. He received a 20-year prison sentence and a $300 million fine.
• Irina Dilkinska, head of the legal department, was sentenced to four years in prison and fined $111.44 million. She pleaded guilty to conspiracy to commit fraud and money laundering in November 2023.
• Mark Scott, a lawyer who laundered $400 million for the pyramid scheme, received a 10-year prison sentence.
• William Morro was charged with concealing OneCoin funds through bank accounts: $35 million in Hong Kong and $6 million in the US. He was arrested on April 23, 2024.

Outlook for Fund Recovery

The currently available $40 million represents less than 1% of the estimated $4 billion in total investor losses. Claims are being accepted through the Kroll program until June 30 — victims are urged to file within the established deadline. Whether additional asset seizures will expand the compensation fund remains an open question.