Konstantin Ignatov has been dismissed from the OneCoin class-action lawsuit, a significant development in the ongoing legal battle against the cryptocurrency scheme. The court accepted the stipulated agreement on August 20th.

Ignatov's release from the proceedings comes with specific conditions. He must make himself available to the plaintiffs' legal team, providing information pertinent to their claims. Furthermore, he has agreed to testify should the case proceed to trial. The Department of Justice retains the right to observe any information sessions between Ignatov and the plaintiffs' counsel.

The agreement explicitly states that no compensation or payment, beyond his cooperation, has been discussed or agreed upon with the plaintiffs or their legal representatives. This arrangement allows the class-action to continue against the remaining defendants.

The OneCoin class-action lawsuit proceeds against OneCoin LTD and seven other individuals. These include Ruja Ignatova, Sebastian Greenwood, Mark Scott, Irina Dilinska, David Pike, and Nicole Huesmann. Ignatov's cooperation aims to bolster the plaintiffs' case against these remaining parties. The scheme, which defrauded investors of billions, has seen numerous legal actions and regulatory crackdowns since its collapse.