SEC Charges Unicoin with Fraud Over $110 Million Crypto Offering

The U.S. Securities and Exchange Commission has filed fraud charges against Unicoin and three executives, alleging the company misled more than 5,000 investors in a $110 million token offering. The New York-based crypto firm falsely claimed its tokens were SEC-registered and inflated fundraising figures—reporting $3 billion raised versus the actual $110 million.

According to the complaint, Unicoin executives grossly exaggerated real estate holdings, asserting $1.4 billion in assets when valuations couldn’t exceed $300 million. CEO Alex Konanykhin has rejected settlement offers, opting instead to contest the charges in federal court.

The case underscores regulators’ heightened scrutiny of crypto asset offerings, particularly those making unsubstantiated claims about regulatory compliance or asset backing. No major exchanges currently list Unicoin’s token.