The Cryptoqueen’s Dark Alliance: Ruja Ignatova’s Ties to the Bulgarian Underworld

The Vanishing Act That Launched a Manhunt

In October 2017, Ruja Ignatova, the Oxford-educated founder of the cryptocurrency scheme OneCoin, boarded an early morning Ryanair flight from Sofia to Athens and disappeared without a trace. This abrupt vanishing act set off a global manhunt spearheaded by investigators from Germany and the United States, who were closing in on Ignatova’s multi-billion-dollar fraud.

Known as the “Cryptoqueen,” Ignatova had convinced millions of investors worldwide to pour money into OneCoin, promising returns akin to the meteoric rise of Bitcoin. However, beneath the façade of a legitimate cryptocurrency lay a cleverly disguised Ponzi scheme, devoid of the underlying blockchain technology that powers digital currencies like Bitcoin.

As the net tightened around Ignatova, her disappearance left a trail of unanswered questions, fueling speculation about her fate and the potential involvement of dangerous associates from the Bulgarian criminal underworld.

The Murky Ties to a Bulgarian Crime Boss

According to former IRS investigator Richard Reinhardt, who spearheaded the probe into OneCoin, Ignatova’s inner circle included a notorious figure from the Bulgarian organized crime scene – a man known as “Taki.”

“We were told, allegedly a big-time drug guy was in charge of her physical security,” Reinhardt revealed in his first interview since retiring. “Taki came up more than once, it wasn’t like it was a one-off. That was a recurring theme.”

This claim aligns with previous statements from U.S. government lawyers, who asserted in 2019 that Ignatova’s head of security was a major organized crime figure in Bulgaria, though they refrained from naming him at the time.

A Powerful Underworld Alliance

Taki, whose full name is Hristoforos Nikos Amanatidis, is widely believed to be the head of a powerful Bulgarian crime syndicate, with alleged involvement in drug trafficking, armed robbery, and even murder. Despite numerous investigations, he has managed to evade successful prosecution, solidifying his near-mythical status within the country’s underworld.

According to Ivan Hristanov, a former Bulgarian deputy minister who investigated allegations of Taki running a criminal network with the aid of corrupt officials, Taki wields immense power and operates through a veil of secrecy.

“When we talk about Taki, he’s the head of the mafia in Bulgaria. He’s extremely powerful,” Hristanov stated. “Taki is the ghost. You’ll never see him. You only hear about him. He’s talking to you through other people. If you don’t listen, you just disappear from earth.”

The Alleged Financial Ties and Personal Connections

While the details of how Ignatova and Taki initially crossed paths remain shrouded in mystery, multiple sources suggest they shared a close personal relationship, with Taki even serving as the godfather to Ignatova’s daughter. Their connection also appears to have extended to financial dealings, with one source claiming that Ignatova paid Taki up to €100,000 per month for protection.

Leaked Europol documents obtained by the BBC shed further light on the duo’s alleged ties, indicating that Bulgarian police had established connections between Ignatova and Taki before her disappearance. The documents suggest that Taki may have used OneCoin’s financial network to launder the proceeds of drug trafficking.

Moreover, the documents mention a complex land deal on Bulgaria’s Black Sea coast that linked one of Ignatova’s companies to Taki’s wife, further underscoring the intricate web of connections between the two.

The Brutal Fate: Murdered by Her Protectors?

While Ignatova’s exact whereabouts remain a mystery, a chilling theory has emerged suggesting that her fate may have been sealed by the very individuals tasked with protecting her. In 2022, Bulgarian investigative journalist Dimitar Stoyanov and his colleagues at bird.bg obtained a police report detailing a shocking revelation.

According to the report, a police informant overheard Taki’s brother-in-law drunkenly claiming that Ignatova had been brutally murdered on Taki’s orders in late 2018. The informant alleged that her body was dismembered and dumped off a yacht in the Ionian Sea.

Although the BBC has been unable to independently verify this claim, multiple criminal associates of Taki are said to believe the theory of Ignatova’s murder, according to Stoyanov. The rationale behind this alleged act of violence was that the wanted Ignatova had become a liability, prompting Taki to eliminate any links to the OneCoin fraud.

The Lingering Mystery and the Ongoing Hunt

Despite the disturbing allegations surrounding her alleged demise, Ignatova’s true fate remains shrouded in mystery. While former IRS investigator Reinhardt believes she is likely dead, he acknowledges that the lack of definitive evidence makes it challenging to prosecute Taki or anyone else for her disappearance.

“There’s no honour among thieves… knowing how violent cartels are, if [Taki] thought she was a threat to him… he would probably take her out instead of getting caught,” Reinhardt speculated.

In the absence of concrete proof, Ignatova remains on the FBI’s Ten Most Wanted list, where she was placed in 2022. Various sightings and tip-offs about her alleged whereabouts continue to surface, fueling speculation that the rumors of her death may be part of an elaborate ruse to throw investigators off her trail.

However, as time passes, the likelihood of Ignatova successfully evading capture diminishes. As Hristanov aptly puts it, “At some point it becomes like Elvis Presley might be still alive… It’s not really very likely.”

For now, the hunt for the missing Cryptoqueen persists, leaving investigators and the public to grapple with the unanswered questions surrounding her alleged ties to the Bulgarian underworld and the circumstances that led to her mysterious disappearance.