The Murky Connections of the ‘CryptoQueen’ and a Murder in South Africa and Bulgaria

The murder of Krasimir Kamenov in Cape Town has revealed a complicated network of connections between Ruja Ignatova, a convicted scammer known as the ‘CryptoQueen,’ South Africa, and Bulgaria. This article delves into the intricate web surrounding Kamenov’s assassination and its link to Ignatova.

The OneCoin Fraud Case

Ruja Ignatova founded OneCoin in 2014, a fraudulent cryptocurrency operation that generated billions of euros in sales revenue and profits. The FBI has placed Ignatova on its top ten most wanted suspects list in the United States, and she remains at large.

Kamenov’s Murder and Connections to Bulgaria’s Criminal Elements

Kamenov, his wife, and two others were shot and killed in Constantia in May 2023. Before his death, Kamenov had been implicated in a scheme against Bulgaria’s public prosecutor, suggesting the infiltration of criminal elements within the Bulgarian government. The Daily Maverick discovered links between Kamenov and the murder of a former policeman, Lyubomir Ivanov, in Sofia in March of the previous year.

The Ignatova Connection

Documents found in Ivanov’s home following his murder suggested that Ignatova may have been killed in November 2018, although this remains unconfirmed. The Bureau of Investigative Reporting and Data in Bulgaria disclosed that Kamenov was their informant for police reports on Ignatova’s alleged murder. They claimed that Kamenov planned to share more information with US investigators.

Connections to South Africa

OneCoin had established a presence in South Africa, as indicated by a Facebook account and YouTube videos. However, sources claim that the scheme did not gain significant traction in the country. Konstantin Ignatov, Ruja Ignatova’s younger brother, assumed OneCoin’s leadership after she vanished in October 2017. Photographs on Konstantin’s Instagram account from around five years ago suggest that he was in Cape Town, adding to the evidence of Bulgarian organized crime figures visiting or residing in South Africa.

Duncan Arthur’s Role

Duncan Arthur, a dual South African and Irish citizen, accompanied Konstantin Ignatov at the time of his arrest in March 2019 in Los Angeles. Arthur, a former compliance head for Standard Bank Africa, was personally recruited by Ignatova and became embroiled in the OneCoin saga. In a document addressed to Bulgaria’s Department of Justice, Arthur detailed his interactions with Ignatova, her brother, and their lawyer, Irina Dilkinska.

The Search for Ignatova

The FBI is offering a reward of up to $250,000 for information leading to Ignatova’s arrest. It is rumored that she may have changed her appearance through plastic surgery and travels with guards and associates to evade authorities.

The intertwined tales of crime, deception, and murder between Bulgaria and South Africa continue to unravel, revealing more questions than answers and more secrets yet to be uncovered.