The U.S. Department of Justice has initiated reimbursement proceedings for victims of the OneCoin cryptocurrency Ponzi scheme.

CoinFeed reported on April 14th that, according to Cointelegraph, the U.S. Department of Justice has initiated restitution proceedings against victims of the OneCoin cryptocurrency Ponzi scheme, using assets seized from those involved in the scheme for compensation. The Department of Justice stated that over $40 million in seized assets are available to compensate victims who purchased OneCoin between 2014 and 2019 and suffered net losses. OneCoin, launched in Bulgaria in 2014, once became the second-largest cryptocurrency before collapsing due to the token's lack of utility. Global investigations indicate the scheme caused losses exceeding $4 billion for victims worldwide.