FBI: ’Queen of Digital Currency’ Scams Moroccan Investors in $5 Billion Crypto Scheme

29 November 2019 – byKamal · 1 min read

By succumbing to the sirens of illegal online brokerage sites, many people, including Moroccans, have fallen into the trap of fake traders who promise the moon. According to the Federal Bureau of Investigations (FBI), a Bulgarian national has amassed nearly $5 billion before disappearing in 2017.

Hundreds of thousands of Moroccans continue to succumb to the temptation of bitcoin. Among them, about a hundred have been victims of a fake Bulgarian trader, called the "queen of digital currency", who managed to amass a large fortune by attracting investors from 175 countries around the world.

According to the FBI, nearly $5 billion invested in the cryptocurrency "OneCoin" evaporated into luxury yachts, palaces and grand parties, before the company closed its doors in 2017. An arrest warrant has been issued against the Bulgarian, Ruja Ignatova, while her brother has been arrested for complicity in fraud.

Meanwhile, the news has not prevented some Moroccan intermediaries from seeking more investors. While more than a hundred victims are recorded in Morocco, other fake brokers have deleted their accounts and photos with the officials of the said company.

Category: Economy

Keywords:

Bitcoin Fraud