US Justice Department opens compensation for victims of $4B OneCoin crypto fraud

OneCoin was launched by Ruja Ignatova and Karl Sebastian Greenwood in Bulgaria. Ignatova has been missing since 2017, and Greenwood was sentenced to 20 years in prison.

The US Department of Justice has launched a compensation process for victims of the $4 billion crypto Ponzi scheme OneCoin, using forfeited assets taken from some of the scheme's architects.

The Justice Department said on Monday that more than $40 million in forfeited assets is available to compensate anyone who purchased OneCoin between 2014 and 2019 and recorded a net loss.

Jay Clayton, the US Attorney for Manhattan, said the compensation process was “an important step toward returning funds to those harmed.”

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