CRYPTO CRIME | The Department of Justice Launches OneCoin Crypto Fraud Compensation Program

The U.S. Department of Justice has launched a compensation process for victims of the OneCoin cryptocurrency fraud, marking a new phase in efforts to return funds from one of the largest scams in crypto history.

The program will distribute more than $40 million in assets seized from individuals linked to the scheme, which defrauded investors of over $4 billion globally between 2014 and 2019.

“Between 2014 and 2019, OneCoin’s founders sold a lie disguised as cryptocurrency, costing victims more than $4 billion worldwide,” said U.S. Attorney Jay Clayton for the Southern District of New York.

“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. If you believe you may be a victim of OneCoin, you may obtain a petition form online at www.onecoinremission.com.”

Eligible claimants include individuals who purchased OneCoin during that period and recorded a net loss. Victims must submit a petition, along with supporting documentation, by June 30, 2026, to be considered for compensation.

The Justice Department said the funds come from criminal forfeitures tied to prosecutions in the Southern District of New York, where several figures involved in the scheme have already been convicted.

“The victims of the OneCoin scheme were misled and financially devastated by promises that were never real,” said Special Agent in Charge Jenifer L. Piovesan of IRS-CI.

“Alongside our law enforcement partners, we worked tirelessly to trace illicit funds and recover them for victims. This compensation process represents a critical step toward returning stolen assets to those who were deceived. IRS-CI remains steadfast in its mission to follow the money and dismantle complex financial fraud schemes like OneCoin.”

OneCoin, founded in 2014 by Ruja Ignatova and Karl Sebastian Greenwood, was marketed as a rival to Bitcoin but was later exposed as a fraudulent operation with no real blockchain infrastructure. The scheme attracted millions of investors worldwide before collapsing under regulatory scrutiny.

Before it collapsed, OneCoin rose to become the second-largest cryptocurrency by market capitalization.

Officials said the compensation process is intended to return a portion of recovered proceeds to victims though full recovery of losses remains unlikely.

However, the investigations to recover the remaining funds continues:

“The victim losses accrued in this case are monumental,” said Assistant Director in Charge James C. Barnacle Jr of the FBI New York Field Office.

“Misled by falsified statements and empty promises, many unknowingly depleted their savings for a fraudulent investment scheme in an emerging financial ecosystem that would never pay out. With the unwavering support from the Department of Justice, the FBI maintains its commitment to returning these stolen funds to their rightful owners.

Our office will continue its investigative pursuit of these criminal fraudsters – especially locating Ruja Ignatova, an FBI Top Ten Fugitive — alongside our partners at the Internal Revenue Service Criminal Investigation (IRS-CI) and the Southern District of New York.

Any information concerning this fugitive can be submitted online at tips.fbi.gov or via our tipline at 1-800-CALL-FBI.”

NB:

Neither the Remission Administrator nor the Department of Justice will ask for any payment to participate in this remission process. Please be cautious of any individual or organization claiming to represent the Remission Administrator or the federal government in this matter. If you are a victim, any communications will come directly from the Remission Administrator or from government representatives with whom you have already had contact.

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