OneCoin offices raided, Bulgarian authorities finally react

Bulgarian authorities finally moved against OneCoin, the cryptocurrency scheme that has operated in plain sight for years while regulators appeared asleep at the wheel.

The Specialized Prosecutors Office raided OneCoin's Sofia offices on January 17th and 18th, working alongside Eurojust and Interpol. Investigators seized servers and questioned 50 witnesses. They didn't just hit OneCoin—they also targeted One Network Services and fourteen other connected companies in the same operation.

The raid came at the direction of German prosecutors. Back in May, authorities in Bielefeld launched their own investigation into OneCoin. By October, those German prosecutors had traveled to Sofia to continue digging. Now the two countries are formally coordinating.

OneCoin operates through hundreds of shell companies spread across four continents, according to Bulgarian authorities. Prosecutors are investigating the scheme not just for money laundering, but for alleged connections to crime groups and terrorist organizations. So far, no arrests have been made.

The trail leads to Ruja Ignatova, OneCoin's creator. She's been in hiding for some time, and the Bielefeld investigation now officially confirms she's on the run. German authorities also want her mother, Veska Ignatova, a Bulgarian woman with German citizenship.

Bulgaria claims it's coordinating with law enforcement in England, Ireland, Italy, the US, Canada, Ukraine, Lithuania, Latvia, Estonia and numerous other countries.

Within hours of the announcement, One Network Services fired back with a statement—sent from a previously unused Gmail address. The company claimed it had never engaged in illegal activity and accused authorities of running a media campaign to discredit OneCoin and its creator. The statement complained of "deliberate concealment of important features" and called the coverage prejudicial.

The response itself tells you something. When a company under criminal investigation sends hastily written defenses through a brand new email account rather than appearing in person, it signals panic, not confidence.

What we know is this: Bulgarian authorities seized hard drives, questioned dozens of people, and coordinated across multiple countries. German prosecutors felt the case warranted international cooperation. One Network Services responded not with transparency but with evasion.

OneCoin built a global operation by convincing people that a digital coin with no underlying blockchain technology had real value. Billions of dollars moved through the scheme. Now the machinery of law enforcement is finally grinding forward. Whether it moves fast enough to catch Ignatova and recover what was stolen remains the open question.

🤖 Quick Answer

What action did Bulgarian authorities take against OneCoin in January?

Which country initiated the investigation that led to the raid?
German prosecutors from Bielefeld launched the initial investigation into OneCoin in May. By October, they traveled to Sofia to continue their investigation, establishing formal coordination between German and Bulgarian authorities for the joint operation.

How long had OneCoin operated before regulatory action?
OneCoin had operated largely unimpeded for years while regulators remained inactive. The scheme functioned through hundreds of operations across multiple jurisdictions before Bulgarian authorities finally took action in response to German prosecutors' findings and ongoing investigation.

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