Onecoin’s $18.2M London Penthouse: Trial in Germany Reveals ‘Cryptoqueen’ Ruja Ignatova’s Lavish Lifestyle

The Onecoin Ponzi scheme is still making headlines as reports from a trial in Germany revealed the missing ‘Cryptoqueen,’ Ruja Ignatova, purchased a London penthouse worth $18.2 million with proceeds from the Onecoin operation. The Münster court’s findings stem from the trial against Martin Breidenbach, Ignatova’s German attorney, who is being accused of money laundering.

Ruja Ignatova, Onecoin’s ‘Cryptoqueen,’ purchased a luxury penthouse apartment in London via a shell company, according to recent reports from the BBC. The report notes that Martin Breidenbach is on trial in Münster, Germany with two other individuals over alleged money laundering charges that are connected to the Onecoin pyramid scheme and Ruja Ignatova. Reports published years ago show that Breidenbach started working with Onecoin in 2014.

The lawyer worked with the law firm Breidenbach Rechtsanwälte and it has been said that the attorney was also the director of Onecoin Limited (Gibraltar) for eight months in 2015, and ostensibly a partner in Cryptoreal firm RSB Central GmbH (Switzerland) as well. Breidenbach’s trial, alongside the findings from the British author, BBC journalist, and “Missing Cryptoqueen” podcast host, Jamie Bartlett, found that shows Ruja Ignatova had extremely expensive taste.



The reports say that the four-bedroom luxury flat kept a number of fine artworks hidden in the apartment, including a rare Andy Warhol piece. The property was purchased by a shell company in 2016 which kept the ‘Cryptoqueen’s’ name out of the picture. Just before she leased the London flat, Ignatova pleaded guilty to a German bankruptcy case. Now Breidenbach is accused of money laundering after transferring €20 million ($23 million) in order to finance the property.

Reports note that the ‘Cryptoqueen’ did stay at the luxury apartment in 2016 but didn’t spend much time there. The property’s owner, as shown on the deed, is called Abbots House Penthouse Limited. Meanwhile, Ruja Ignatova has been missing since 2017 and despite a large worldwide search effort, she has not been found. Onecoin is considered one of the largest crypto-related Ponzi schemes ever and the first as well.

The German lawyer’s office Breidenbach Rechtsanwälte in 2014 helped legitimize the idea that Onecoin was a cryptocurrency, even though it didn’t have a blockchain or any similarities to any blockchain technology.

“Most countries have recognized cryptocurrencies as a bona fide commodity, which may be held and traded by their citizens,” the law firm Breidenbach Rechtsanwälte opined at the time. “In our opinion, the ‘Onecoin’ is a legitimate product, limited to 2.1 billion (coins),” the law firm added in December 2014.

What do you think about the trial of Martin Breidenbach in Germany and the ‘Cryptoqueen’s’ expensive habits? Let us know what you think about this subject in the comment section below.