U.S. Department of Justice Initiates OneCoin Victim Compensation Process, Distributable Funds Exceed $40 Million

Odaily News: The U.S. Department of Justice has announced the initiation of a compensation process for victims of the OneCoin cryptocurrency fraud case, with forfeited assets available for distribution exceeding $40 million.

The program is aimed at investors who purchased OneCoin between 2014 and 2019 and incurred net losses. U.S. prosecutors stated that this move is intended to return a portion of the illicit proceeds to the victims. OneCoin was launched by Ruja Ignatova and Karl Greenwood, with the associated fraud scale exceeding $4 billion. Ignatova has been missing since 2017, and Greenwood was sentenced to 20 years in prison in 2023. (Cointelegraph)