SEC Uncovers $110M Crypto Scandal: Unicoin’s ‘Asset-Backed’ Claims Fall Apart

May 21, 2025 12:00 pm Cryptocurrency 174

Key Takeaways:

SEC charges Unicoin and executives over $110M in allegedly fraudulent crypto offerings.

Over 5,000 investors were misled with claims of asset-backed tokens and SEC registration.

Unicoin’s aggressive marketing campaign painted an illusion of safety and scale.

The U.S. Securities and Exchange Commission (SEC) has taken decisive action against Unicoin, a New York-based crypto firm, and its leadership. Accused of orchestrating a sweeping $110 million fraud, Unicoin allegedly deceived thousands of investors through false promises about asset backing and token legitimacy.