Gate News announcement: On April 14, the U.S. Department of Justice officially launched a compensation process for victims of the OneCoin crypto Ponzi scheme. Any victims who purchased OneCoin between 2014 and 2019 and suffered net losses may apply for compensation. Currently, the forfeited assets available for compensation exceed $40 million. OneCoin was founded in 2014 in Bulgaria by Ruja Ignatova and Karl Sebastian Greenwood. At one point, it ranked as the world’s second-largest cryptocurrency by market capitalization. It later collapsed due to the tokens having no practical value. Globally, about 3.5 million victims lost more than $4 billion, and some estimates put losses as high as $19 billion. Co-founder Greenwood was sentenced to 20 years in prison in 2023; the other founder, Ignatova, has been missing since 2017. She is now listed on the FBI’s “Ten Most Wanted” list, with the FBI offering a $5 million bounty for information leading to her whereabouts.
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