The OneCoin scheme, led by Ruja Ignatova and Karl Sebastian Greenwood, operated as a global fraud disguised as a cryptocurrency investment opportunity. Using aggressive multi-level marketing tactics, it promised high returns but lacked any real blockchain or underlying technology.

While Greenwood has been sentenced to 20 years in prison and ordered to pay massive restitution, Ignatova remains a fugitive and is still listed among the Federal Bureau of Investigation’s most wanted individuals. The scale and longevity of the scam highlight how vulnerable investors were during crypto’s early boom.

The current compensation effort shows that enforcement agencies continue to pursue justice even years later. It also serves as a reminder for investors to remain cautious—especially when faced with promises that seem too good to be true in rapidly evolving markets like crypto.