OneCoin Ltd.
OneCoin was a purported cryptocurrency marketed worldwide from 2014. US prosecutors in the Southern District of New York charged its leaders. The Department of Justice says the scheme took in more than US$4 billion from at least 3.5 million victimsS1. Co-founder Karl Sebastian Greenwood pleaded guilty on 16 December 2022 and was sentenced on 12 September 2023 to 20 years and about US$300 million in forfeitureS1S2. Founder Ruja Ignatova was charged in 2019, remains at large, and was added to the FBI Ten Most Wanted list in June 2022S3S4. DOJ says OneCoin lacked a true blockchain and the coins were worthlessS2.
- Also known as
- OneCoin, OneLife Network, OneCoin cryptocurrency
- Headquarters
- Bulgaria
- Records from
- United States, Bulgaria
- Current status
- OneCoin Ltd. is defunct as a working business. Co-founder Karl Sebastian Greenwood was sentenced in New York on 12 September 2023 to 20 years and about US$300 million in forfeitureS1. Founder Ruja Ignatova remains a fugitive on the FBI Ten Most Wanted list and is at large as of October 2026S3.
Scope. This record covers the OneCoin scheme marketed from 2014. It does not cover unrelated firms using similar names, and it names individuals only where US court or prosecutor records name them.
Claims assessed
4 claims. Scores grade the evidence for each claim, not the organization.- Supported96A September 2023 US Department of Justice statement said OneCoin co-founder Karl Sebastian Greenwood was sentenced to 20 years in prison and ordered to pay about US$300 million for his part in the OneCoin scheme.Regulator statement, 12 September 20233 records citedFraud
- Supported93The Department of Justice said OneCoin was sold as a cryptocurrency but lacked a true blockchain, had no real value, and that its price was set by the company itself.Regulator statement, 16 December 20223 records citedProduct claims
- Unresolved81US prosecutors charged OneCoin founder Ruja Ignatova with wire fraud, securities fraud and money laundering conspiracy counts, and the FBI says she remains a fugitive on its Ten Most Wanted list.Regulator statement, 8 March 20192 records citedFraud
- Contradicted88A January 2018 OneCoin company statement said the company had never been involved in criminal or illegal activities and called money laundering reports untrue and misleading.Company statement, 23 January 20183 records citedMoney laundering
Cases and proceedings
- United States v. Karl Sebastian GreenwoodUS District Court for the Southern District of New York. Criminal. Not published.Stage: Convicted by guilty plea and sentenced. Sentence affirmed on appeal, final as of October 2026S7.
- United States v. Ruja IgnatovaUS District Court for the Southern District of New York. Criminal. Not published.Stage: Charges pending. Defendant at large, warrant outstandingS4S3.
Responses on record
- OneCoin Ltd., 23 January 2018, on US prosecutors charged OneCoin founder Ruja Ignatova with wire fraud, securities fraud and...
OneCoin said in January 2018 that reports were untrue and misleading and that it had never been involved in criminal or illegal activities.S5
Revision history
- Profile and 4 assessments first published. Records checked to 25 October 2026.
Source records
- S1Tier A Co-Founder Of Multibillion-Dollar Cryptocurrency Scheme "OneCoin" Sentenced To 20 Years In PrisonUS Attorney's Office, Southern District of New York. Government press release. 12 September 2023.Supports the 20 year sentence, the forfeiture, the scheme size and that Ignatova remains at large. Does not establish Ignatova's personal guilt.
- S7Tier A United States v. Scott, United States v. Greenwood, Summary Order, Nos. 23-7199(L), 24-368US Court of Appeals for the Second Circuit. Court judgment. 31 January 2025.Affirms Greenwood's 240 month sentence on appeal. Settles that the sentence is final.
- S4Tier A Manhattan U.S. Attorney Announces Charges Against Leaders Of "OneCoin," A Multibillion-Dollar Pyramid SchemeUS Attorney's Office, Southern District of New York. Government press release. 8 March 2019.Supports the charges against Ignatova, that she remains at large, and the FBI no real value statement. The charges are allegations.
- S3Tier A Ruja Ignatova, Ten Most Wanted FugitivesFederal Bureau of Investigation. Government press release. 30 June 2022.Supports the Ten Most Wanted listing, the reward and the fugitive status. Charges listed are allegations, not findings.
- S5Tier C OneCoin: Reports of money laundering 'untrue and misleading'The Sofia Globe. Press report. 23 January 2018.Records OneCoin's company denial. Used for the origin of the denial claim, not as proof the denial was true.
- S2Tier A Co-founder of multibillion-dollar cryptocurrency pyramid scheme "OneCoin" pleads guiltyUS Attorney's Office, Southern District of New York, via IRS Criminal Investigation. Government press release. 16 December 2022.Supports the guilty plea counts, the no true blockchain and worthless coin findings, and the pyramid scheme description.
- S6Tier C Bulgaria to lay charges, seize property of 'cryptoqueen' IgnatovaThe Sofia Globe. Press report. 26 June 2024.Reports Bulgaria's plan to charge Ignatova in absentia and a US reward of up to US$5 million. Colour and later development only.