SEC Charges Unicoin in $100M Crypto Scam, Targets Fraudulent Firms

The U.S. Securities and Exchange Commission has filed charges against Unicoin Inc. and its executives—Alex Konanykhin, Silvina Moschini, and Alex Dominguez—for orchestrating a $100 million fraudulent scheme. Over 5,000 investors were allegedly misled by promises of future cryptocurrency and company stock tied to certificates sold by the firm.

According to the SEC, Unicoin inflated the value of these certificates and falsely claimed backing from an international real estate portfolio. Mark Cave, a senior SEC official, emphasized that these deceptive practices resulted in significant investor losses.

The agency’s May 20, 2025 announcement highlighted Unicoin’s aggressive marketing tactics as a key component of the alleged fraud. No specific cryptocurrencies or exchanges were directly implicated in the scheme.