It is believed that Ruja Ignatova of OneCoin could be hiding in Cape Town.

The so-called "Queen of Cryptocurrencies" Ruja Ignatova, mastermind of the OneCoin Ponzi scheme, appears to be hiding in South Africa. At least that's what recent German investigations suggest.

Ignatova, a Bulgarian educated at Oxford, disappeared in October 2017. She left behind millions of victims deceived by her false cryptocurrency scheme. Her whereabouts generated many theories. It was even said that she could be dead.

The German detectives have another idea. They believe he lives in an exclusive neighborhood near Cape Town. This area attracts foreign criminals. It offers very secure developments.

A report from The Times mentions Sabine Dässel, representative of the criminal investigation office of North Rhine-Westphalia. In the WDR documentary 'Die Kryptoqueen', Dässel confirmed that they are still investigating under the premise that Ignatova is still alive.

They are not completely sure where the crypto queen is. But Dässel claimed that all the clues point to Cape Town. Apparently, someone saw her there.

It is curious that Konstantin, Ignatova's brother, visited Cape Town several times after her disappearance. This suggests that he was receiving instructions from her.

Konstantin took control of OneCoin when his sister fled. He then cooperated with the FBI and spent three years in a U.S. prison. He said that Ignatova escaped with £500 million. Enough money to finance her escape and buy false identities.

The documentary also explored links between Ignatova and figures of Bulgarian organized crime. Among them is Hristoforos Nikos Amanatidis, known as Taki. This man, who has no convictions, allegedly used OneCoin to launder money from his shady businesses.

Some thought that Taki had ordered the murder of Ignatova in Greece in 2018. The documentary dismisses this idea. The LKA reported that the supposed assassin was in prison when the incident would occur. No one has been able to verify this story.

Duncan Arthur, a key informant in the Ignatova operation, revealed something interesting. According to him, Konstantin continued to speak with his sister after 2017. This reinforces the idea that she is still alive.

Not only the Germans believe that Ignatova is alive. The FBI has her on its list of ten most wanted fugitives. Recently, they increased the reward for information: from $100,000 to $5 million. They suspect that she may have undergone surgery to change her appearance.

The fraud of $4 billion

Between 2014 and 2017, Ignatova and her accomplices defrauded investors of about $4.3 billion. They promised huge profits with OneCoin, a cryptocurrency that didn't even exist. It had no blockchain at all.

While she remains missing, several accomplices have already fallen. Karl Greenwood, co-founder of the scheme, is serving 20 years for fraud. Irina Dilkinska, legal head, was sentenced for fraud and money laundering.

Mark Scott, another lawyer involved, received 10 years after the statements of Konstantin Ignatov. The latter managed to reduce his own sentence thanks to his cooperation.

Currently, Ignatova faces charges in the United States, Germany, Bulgaria, and India. Electronic and securities fraud. Many charges. But first, she needs to be found.