US Justice Department Opens Victim Compensation Process in $4 Billion OneCoin Crypto Fraud

OneCoin began soliciting investments worldwide in 2014 by claiming it would surpass Bitcoin and even asserting that it had become the second-largest cryptocurrency by market capitalization. It had no publicly tradable blockchain, however, and was ultimately exposed as a Ponzi scheme that caused more than $4 billion in losses for investors worldwide by 2019.

The US Justice Department launched a victim compensation process in July 2026, planning to use more than $40 million in assets forfeited in the criminal case to compensate investors defrauded between 2014 and 2019. Eligible victims may file claims through the official process, but actual payouts will depend on the review results and the total value of valid claims.