INDXcoin Fraud Cost Investors Over $3 Million
The Regalados told investors God directed them to sell the token.
Investors lost over $3 million in the INDXcoin scheme. The couple claimed divine guidance for their crypto ventures. More than 500 people participated in the project. Many withdrew retirement savings to buy the asset.
Eli and Kaitlyn Regalados launched the token in 2021. They had no prior experience in digital assets. The project targeted evangelical Christian circles. It collapsed within one year of launch.
Divine Mandate Drove Trading Decisions
Eli Regalado reported hearing direct commands from God. These instructions covered business naming and hiring. In 2021, he said God told him to sell crypto. He believed this was a wealth transfer to believers.
Kaitlyn Regalado described receiving messages during prayer. She sought counsel on personal and financial matters. The couple cited these voices as the basis for their actions. They admitted initial apprehension about entering the market.
Retirement Funds Vanished From Accounts
Debbie and Jose Bonilla invested $70,000 in INDXcoin. They withdrew this sum from retirement accounts. They learned of the coin through a minister. They trusted the Regalados' judgment completely.
The Bonillas lost their entire investment. Debbie Bonilla described the money evaporating. She questioned how such a loss could occur. Other investors faced similar total losses.
Global Crypto Fraud Losses Rise
Scammers collected $14 billion in 2025. This represented a 17% increase from the prior year. Chainalysis reported these figures in its analysis. The United States saw $7.2 billion in FBI-reported losses.
Low technical barriers enable easy coin creation. CoinMarketCap tracked over 3 million new tokens. Many investors lack full understanding of the technology. This gap facilitates fraudulent schemes. GN markets/crypto (en-US) notes the rising risk profile.
