Key Takeaways
- • The U.S. Department of Justice has launched a victim compensation program for the OneCoin cryptocurrency fraud scheme, making over $40 million in forfeited assets available for distribution to affected investors.
- • Eligible victims must have invested in OneCoin between 2014 and 2019 and experienced net losses; the filing deadline for compensation petitions is June 30, 2026, with submissions processed through www.onecoinremission.com.
- • The OneCoin scheme, orchestrated by Ruja Ignatova and Karl Sebastian Greenwood, defrauded investors of an estimated $4 billion to $15 billion globally through fraudulent cryptocurrency marketing and a multi-level marketing network operating from Sofia, Bulgaria.
- • Karl Sebastian Greenwood pleaded guilty and was sentenced to 20 years in prison in September 2023 with $300 million in restitution ordered; Ruja Ignatova remains a fugitive and is on the FBI's Most Wanted list since her disappearance in 2017.
- • The compensation program is administered by Kroll Settlement Administration LLC and managed by the Criminal Division's Money Laundering, Narcotics, and Forfeiture Section, with U.S. Attorney Jay Clayton emphasizing the government's continued commitment to asset seizure and victim restitution.
Summary
The U.S. Department of Justice has initiated a petition for remission process to compensate victims of the OneCoin cryptocurrency fraud, one of the largest investment scams in recent history. The compensation program, announced on April 13, 2026, makes more than $40 million in criminally forfeited assets available for distribution to affected investors. The U.S. Attorney's Office for the Southern District of New York, which prosecuted OneCoin-related cases, is overseeing the recovery effort with Kroll Settlement Administration LLC serving as the designated remission administrator.
Between 2014 and 2019, co-founders Ruja Ignatova and Karl Sebastian Greenwood orchestrated an international cryptocurrency investment scheme that defrauded investors worldwide. Operating from Sofia, Bulgaria, the scheme marketed and sold fraudulent cryptocurrency through a global multi-level marketing network, using false promises of high returns to attract victims. The total fraud amount is estimated between $4 billion and $15 billion, making it among the largest cryptocurrency scams globally. Investors who purchased OneCoin during the 2014–2019 period and experienced net losses are eligible to seek compensation through the remission process.
To file for compensation, eligible victims must submit a petition through the official remission website at www.onecoinremission.com. The filing deadline is June 30, 2026. Petition forms are also available by contacting the Remission Administrator via phone, email, or mail. According to U.S. Attorney Jay Clayton, "Today's announcement marks an important step toward returning funds to those harmed. While no recovery can fully undo the damage, our Office will continue working to seize criminal proceeds and prioritize getting money back into the hands of victims."
The prosecution has achieved partial accountability: Karl Sebastian Greenwood pleaded guilty and was sentenced to 20 years in prison in September 2023, with $300 million in restitution ordered. However, Ruja Ignatova, known as the "Cryptoqueen," has been a fugitive since 2017 and remains on the FBI's Most Wanted list. The remission program represents the government's effort to distribute recovered criminal proceeds to defrauded investors, though the $40 million fund falls substantially short of the total estimated losses, potentially limiting full recovery for individual claimants.
Between 2014 and 2019, co-founders Ruja Ignatova and Karl Sebastian Greenwood orchestrated an international cryptocurrency investment scheme that defrauded investors worldwide. Operating from Sofia, Bulgaria, the scheme marketed and sold fraudulent cryptocurrency through a global multi-level marketing network, using false promises of high returns to attract victims. The total fraud amount is estimated between $4 billion and $15 billion, making it among the largest cryptocurrency scams globally. Investors who purchased OneCoin during the 2014–2019 period and experienced net losses are eligible to seek compensation through the remission process.
To file for compensation, eligible victims must submit a petition through the official remission website at www.onecoinremission.com. The filing deadline is June 30, 2026. Petition forms are also available by contacting the Remission Administrator via phone, email, or mail. According to U.S. Attorney Jay Clayton, "Today's announcement marks an important step toward returning funds to those harmed. While no recovery can fully undo the damage, our Office will continue working to seize criminal proceeds and prioritize getting money back into the hands of victims."
The prosecution has achieved partial accountability: Karl Sebastian Greenwood pleaded guilty and was sentenced to 20 years in prison in September 2023, with $300 million in restitution ordered. However, Ruja Ignatova, known as the "Cryptoqueen," has been a fugitive since 2017 and remains on the FBI's Most Wanted list. The remission program represents the government's effort to distribute recovered criminal proceeds to defrauded investors, though the $40 million fund falls substantially short of the total estimated losses, potentially limiting full recovery for individual claimants.
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