OneCoin, promoted as a cryptocurrency by the self-proclaimed “Cryptoqueen” Ruja Ignatova, raised $4 billion from investors worldwide, yet had no real blockchain—functioning as a pure Ponzi scheme. Ignatova vanished in 2017 and remains on the FBI’s most wanted list, with a reward of $100,000 for her capture. This scam is faster than the average crypto fraud in its rise, accumulating $4 billion in just three years, outperforming #7 WorldCom’s $11 billion in relative speed but not absolute magnitude. Unlike #6 Charles Ponzi’s scheme, which used postal coupons, OneCoin exploited the hype around blockchain technology, targeting 3 million victims across 175 countries.
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