On 9th May, The register reported that another cryptocurrency caper has been hit with a fraud lawsuit – this time OneCoin, set up and run by the self-titled “CryptoQueen”, Ruja Ignatova. Ignatova and her brother Konstantin are being sued in a New York federal court by investor Christine Grablis, who claims that the Bulgarian siblings ran a “$4 billion Ponzi scheme” for an ICO that “never really existed, on a blockchain that never really existed, born from mining farms that never really existed”. In April, Konstantin Ignatova was arrested at Los Angeles airport by federal agents on wire fraud charges connected to his role in OneCoin, but they were unable to find his sister. According to the FBI, and reiterated by Grablis’ lawsuit, there simply is no OneCoin. The lawsuit names 2 others as being allegedly responsible, including a former partner at major US law firm Locke Lord, both of whom have also been arrested.