Ruja Ignatova, a Bulgarian entrepreneur, gained notoriety for her involvement in one of the most infamous cryptocurrency scams in history. Born on May 30, 1980, in Sofia, Bulgaria, Ignatova showed early promise in academics, eventually earning a Ph.D. in private international law from the University of Konstanz in Germany. Her academic achievements, however, would later contrast sharply with her criminal activities.

The Rise of OneCoin

In 2014, Ruja Ignatova launched OneCoin, a cryptocurrency that she claimed would revolutionize the financial world. OneCoin was marketed as a digital currency that would be easier to mine, trade, and use compared to other cryptocurrencies like Bitcoin. The company held glitzy marketing events and promised high returns for minimal investment, attracting investors worldwide.

The Scheme Unravels

Despite its initial appeal, cracks soon began to show in OneCoin's facade. Experts in the cryptocurrency field raised questions about the legitimacy of the operation, noting the lack of a public ledger and the inability to use OneCoin for any real transactions. Investigations revealed that OneCoin operated more like a pyramid scheme, relying on new investments to pay returns to earlier investors.

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