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This move marks a new stage in the efforts to recover funds following one of the largest crypto frauds in history.
The Asset Recovery Process
The program is administered by Kroll and is aimed at investors who purchased OneCoin between 2014 and 2019. Applicants must submit their claims through the official platform, with the deadline set for June 30.
The funds stem from forfeitures related to criminal cases handled by the Department of Justice for the Southern District of New York. However, the available amount covers only a small fraction of the total losses, which are estimated at over $4 billion globally.
The Central Figure Remains Missing
The scheme’s co-founder, Ruja Ignatova, continues to be at large. She has been on the FBI’s Most Wanted list since 2022, with a reward of up to $250,000 offered for information leading to her arrest. Separately, the DOJ has announced a reward of up to $5 million.
While Ignatova remains missing, several of her associates have already been sentenced. Co-founder Karl Sebastian Greenwood received 20 years in prison and a $300 million fine after pleading guilty to fraud and money laundering.
Former head of legal and compliance Irina Dilkinska was sentenced to four years in prison and had over $111 million in assets confiscated. In Germany, charges were also brought against individuals involved in transferring tens of millions of euros used to conceal funds.
Among the most recently charged is William Morro, who prosecutors say participated in hiding the origin of funds linked to the scheme through bank transfers between Hong Kong and the United States.
What This Means for Victims
Although the $40 million sum is far below the actual losses, the compensation process provides an opportunity for partial recovery for thousands of investors worldwide.
The case remains one of the most iconic examples of crypto fraud, and the recent actions by authorities demonstrate that efforts to recover funds and seek accountability continue years after the scheme’s collapse.
While limited in scale, the compensations are a significant step for OneCoin victims and highlight the growing focus of regulators on investor protection and the prosecution of financial crimes within the crypto sector.