Ruja Ignatova is a Bulgarian businesswoman known as the “Queen of Cryptocurrency,” who has become a prominent figure in the cryptocurrency space, but is also linked to one of the largest financial frauds in history.
Background about it:
Born in Bulgaria in 1980, she grew up in Germany where she obtained her PhD in Law.
She worked in corporate and financial consulting before entering the world of cryptocurrencies.
Its relationship to fraud:
Ruja is the main founder of OneCoin, which appeared in 2014 and was presented as a cryptocurrency similar to Bitcoin.
OneCoin was marketed as a revolutionary cryptocurrency, but it was not backed by real blockchain technology, making it look like a Ponzi scheme or pyramid scam.
She and her team have raised over $4 billion from investors around the world between 2014 and 2017.
Her disappearance:
In October 2017, Roja suddenly disappeared after US and European authorities began investigating her.
She is believed to have fled with a large sum of money, and has not been found since, although she was placed on the FBI's "Most Wanted" list.
Although the FBI has offered a $5 million reward for information leading to her arrest, there is no firm evidence of her whereabouts.
Its effect:
The Ruja Ignatova and OneCoin case showed how fragile the cryptocurrency market is and how many investors are unaware of the risks.
The incident has sparked much debate about the legal regulations needed to protect investors in this field.#MarketDownturn 
Her whereabouts remain unknown, and there are rumours that she has changed her identity or is under the protection of certain parties.