A U.S pastor said God asked him To Launch a Crypto Scam

A Colorado church called Victorious Grace launched the INDXcoin crypto based on nothing but God’s will. The church’s pastor and his wife managed to cash in millions of dollars by selling this token to their followers. The couple is currently being sued in Colorado, but continues to defend the token.

INDXcoin, a scam presented as a divine crypto

As the crypto market prepares for a surge, we’re going to have to guard against the proliferation of scams, including the strangest ones. That’s right, Victorius Grace, an online church in Colorado has launched a crypto called INDXcoin…

Pastor Eli Regalado, claimed that the creation of the INDXcoin token was a recommendation from God. Therefore, the success of INDXcoin investments was guaranteed by God himself! It’s an argument that may make you smile, but it’s one that has worked well with the Denver-area faithful.

According to sources close to the case, the pastor Eli Regalado and his wife Kaitlyn Regalado managed to cash in 3.2 million between June 2022 and April 2023 by selling INDXcoin. This token could only be exchanged for US dollars on Kingdom Wealth Exchange, a platform controlled by, …, the pastor and his wife.

Justice is on the case INDXcoin

The Colorado Securities Commissioner has filed a complaint in Denver District Court against several individuals, including Pastor Eli Regalado and his wife, Kaitlyn Regalado. He accused the couple of violations of the anti-fraud rules, licensing and registration provisions of the Colorado Securities Act in the INDXcoin case. The plaintiff hopes to obtain, among other things, damages for investors.

The complaint states thatEli and Kaitlyn Regalado had no experience of cryptocurrencies. For its part, INDXcoin was illiquid, worthless and had code deemed unsafe, insecure and riddled with serious technical problems. Despite this, the Regalados would have promoted INDXcoin as a low-risk, high-profit investment.

We allege that Mr. Regalado took advantage of the trust and faith of his own Christian community and made outlandish promises of wealth to them by selling them essentially worthless cryptocurrencies.

Commissioner Tung Chan

Pastor Eli Regalado defends INDXcoin

The pastor has reacted publicly to the complaint targeting his couple and their loved ones. In a video over 8 minutes long, Eli Regalado acknowledges being the creator and promoter of the INDXcoin token. The pastor also acknowledges that the sale of this token brought in nearly $1.3 million.

However, this money would not have been used to finance his lifestyle, half a million dollars having been paid to the taxman and another part having been used to renovate the house indicated by God.

In other news, Eli Regalado acknowledges the INDXcoin token’s liquidity problem and says that God answered him: “Trust me”. For the pastor, everything was done on God’s instruction.

At the hearing scheduled for January 29, the prosecutors will attempt to deconstruct these divine arguments. A difficult task both for them and for Pastor Eli Regalado, who alleges the facts. To continue following this case with us, don’t forget to follow us on our networks.