In 2014, a new cryptocurrency was unveiled: OneCoin. At mass events resembling religious gatherings, charismatic founder, Ruja Ignatova, claimed it was on course to become the world’s biggest digital currency and would change the world. In fact, it was a giant ponzi scheme. There was no blockchain, no pay-out system, nothing but the promise of fantastic rates of return. Ruja and her cronies invented a new, favourable exchange rate every day. And it worked: OneCoin was soon hyped as the cryptocurrency for the poor. A currency that would turn paupers into princes.
In truth, it only turned Ruja Ignatova into the Cryptoqueen. She threw lavish champagne parties in Frankfurt, Sofia and New York. She bought two dozen luxury properties around the world. Until she went AWOL. At present, nobody knows where she is. But despite all that, many investors continue to believe in OneCoin. How did Ruja Ignatova manage to dupe authorities and clients alike? Who knew what when? How does OneCoin manage to continue to operate? And who are the shady people behind the Cryptoqueen?
Director: Johan von Mirbach
Year: 2022