The Department of Justice is managing the recovery process via onecoinremission.com, a portal administered by Kroll Settlement Administration. The program is restricted to individuals who purchased OneCoin packages between 2014 and 2019 and can document a net financial loss. While the application process is free, the FBI emphasizes that submitting a petition does not guarantee a payout, as funds are limited to the assets forfeited by those involved in the multi-billion dollar fraud.
In section Cryptocurrency
FBI Sets June 30 Deadline for OneCoin Fraud Victims
Investors who lost money in the OneCoin cryptocurrency scheme have until June 30 to file for compensation through a federal remission program. With over $40 million in seized assets available for distribution, authorities are urging victims to submit claims before the window permanently closes.
James C. Barnacle Jr., Assistant Director in Charge of the FBI’s New York field office, stated that victims were targeted with false promises and fabricated value propositions. The scheme, which originated in Bulgaria, operated as a massive multi-level marketing project that falsely claimed to be a "Bitcoin killer." While co-founder Karl Sebastian Greenwood was sentenced to 20 years in prison last year, the project's leader, Ruja Ignatova, remains at large. The U.S. Department of State continues to offer a $5 million reward for information leading to her capture.
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