Guernsey Seizes $11.4M in OneCoin Fraud as Cryptoqueen’s Empire Crumbles
Guernsey has recovered over £8.5 million ($11.4 million) linked to the OneCoin fraud, marking one of the most significant financial recoveries in the case of fugitive founder Ruja Ignatova, the so-called 'Cryptoqueen.' The Royal Court of Guernsey approved an overseas forfeiture order requested by German prosecutors, targeting funds held by Aquitaine Group Limited at RBS International.
The seized assets, now in Guernsey's Seized Asset Fund, will primarily compensate victims and support law enforcement efforts. OneCoin, marketed as a bitcoin rival in 2014, was later exposed as a sham—lacking a functional blockchain or mining process—operating as a multi-level marketing scheme.
Ignatova's disappearance eight years ago has not halted global efforts to dismantle OneCoin's financial remnants. The ruling underscores the long arm of justice in crypto fraud cases, even as masterminds evade capture.
