Ignatova, a Bulgarian national with an Oxford University education, remains one of the FBI's most wanted fugitives, successfully evading international authorities for seven years.

Authorities believe that Ignatova, known for her glamorous lifestyle, may be traveling under a German passport to countries such as the United Arab Emirates, Bulgaria, Germany, Russia, Greece, and Eastern Europe. She is thought to be accompanied by armed guards or associates and may have even undergone plastic surgery to alter her appearance. The FBI disclosed her birth date as May 30, 1980, putting her at 44 years old, and stated that she is fluent in English, German, and Bulgarian.

Ignatova founded OneCoin Ltd., a Bulgarian-based company that promoted a fraudulent cryptocurrency. She reportedly deceived individuals through false statements and representations, swindling victims out of more than $4 billion throughout the course of the scheme.

Raised in poverty in Bulgaria, Ignatova nurtured a fixation on wealth. At the height of her operation, she owned opulent properties, including a penthouse in London's upscale Kensington neighborhood, as well as a luxurious "superyacht" named the "Davina," valued at over $7 million.

The last confirmed sighting of Ignatova was on October 25, 2017, when she boarded a commercial flight from Sofia, Bulgaria, to Athens, Greece. Since then, she has managed to elude law enforcement agencies. Notably, her accomplice, Karl Greenwood, a Swedish national, was apprehended and received a 20-year sentence after pleading guilty to wire fraud and money laundering. Greenwood had amassed over $300 million from the OneCoin scam, employing it to fund an extravagant way of life until his arrest in Thailand in 2018.

The magnitude of the OneCoin fraud has drawn comparisons to the infamous Bernie Madoff scandal, with over 3.5 million investors falling victim to the scheme. In June 2022, Ignatova was added to the FBI's Most Wanted list, initially offering a reward of $250,000 for her capture and conviction.

Ignatova's complex past reveals her intellect and academic achievements, including earning a scholarship to the prestigious Konstanz University, often referred to as the "Harvard of Germany," and obtaining a master's degree in comparative European Law from Oxford University. However, prosecutors contend that Ignatova and her partner designed OneCoin as a fraudulent enterprise right from its inception.

As the hunt for the elusive Cryptoqueen intensifies, the increased bounty of $5 million underscores the determination of law enforcement agencies to bring Ignatova to justice and secure justice for the millions of victims ensnared in her deceptive cryptocurrency scheme.