Key Takeaways
- • The U.S. Department of Justice has launched a victim compensation program distributing over $40 million in forfeited assets to OneCoin fraud victims who invested between 2014 and 2019, with a petition deadline of June 30, 2026.
- • OneCoin, orchestrated by co-founders Ruja Ignatova and Karl Sebastian Greenwood and based in Sofia, Bulgaria, defrauded investors of an estimated $4 billion to $15 billion globally through a fraudulent cryptocurrency scheme marketed via multi-level-marketing networks.
- • Eligible victims must have invested in OneCoin between 2014 and 2019 and experienced a net loss; compensation petitions are administered through Kroll Settlement Administration via www.onecoinremission.com.
- • The Department of Justice's Criminal Division Money Laundering, Narcotics and Forfeiture Section is managing the remission process, with multiple prosecutions filed in the Southern District of New York and key scheme participants already sentenced.
- • The DOJ has issued warnings that victims should be cautious of third-party recovery services demanding payment, as follow-up scams targeting fraud victims remain common.
Summary
The U.S. Department of Justice has announced the opening of a compensation program for victims of the OneCoin cryptocurrency fraud scheme, making more than $40 million in seized and forfeited assets available for distribution. The program, initiated on April 13, 2026, represents a significant recovery effort for one of the largest cryptocurrency scams in history, with total losses estimated between $4 billion and $15 billion globally.
Between 2014 and 2019, OneCoin Ltd., a Sofia, Bulgaria-based operation co-founded by Ruja Ignatova and Karl Sebastian Greenwood, orchestrated an international investment scheme that defrauded investors worldwide. The fraudulent platform marketed a fake cryptocurrency through global multi-level-marketing networks, employing systematic misrepresentations to attract and retain investors. The Department of Justice pursued multiple prosecutions through the Southern District of New York, resulting in criminal convictions and forfeiture of proceeds derived from the scheme. Several key figures involved in the operation have already been sentenced.
Victims who invested in OneCoin between 2014 and 2019 and experienced a net loss are eligible to file petitions for compensation through the Department of Justice's remission process. The petition submission deadline is June 30, 2026. Interested parties can obtain petition forms online at www.onecoinremission.com or contact the Remission Administrator by phone, email, or mail to request forms. Kroll Settlement Administration is managing the administrative aspects of the compensation program, which is overseen by the Criminal Division's Money Laundering, Narcotics and Forfeiture Section.
In an advisory note, the DOJ has warned victims to exercise caution regarding third-party recovery services that demand payment, as secondary scams targeting fraud victims remain prevalent. The compensation program provides direct access to recovered funds without requiring intermediary services.
Between 2014 and 2019, OneCoin Ltd., a Sofia, Bulgaria-based operation co-founded by Ruja Ignatova and Karl Sebastian Greenwood, orchestrated an international investment scheme that defrauded investors worldwide. The fraudulent platform marketed a fake cryptocurrency through global multi-level-marketing networks, employing systematic misrepresentations to attract and retain investors. The Department of Justice pursued multiple prosecutions through the Southern District of New York, resulting in criminal convictions and forfeiture of proceeds derived from the scheme. Several key figures involved in the operation have already been sentenced.
Victims who invested in OneCoin between 2014 and 2019 and experienced a net loss are eligible to file petitions for compensation through the Department of Justice's remission process. The petition submission deadline is June 30, 2026. Interested parties can obtain petition forms online at www.onecoinremission.com or contact the Remission Administrator by phone, email, or mail to request forms. Kroll Settlement Administration is managing the administrative aspects of the compensation program, which is overseen by the Criminal Division's Money Laundering, Narcotics and Forfeiture Section.
In an advisory note, the DOJ has warned victims to exercise caution regarding third-party recovery services that demand payment, as secondary scams targeting fraud victims remain prevalent. The compensation program provides direct access to recovered funds without requiring intermediary services.
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