Online pastor accused of million-dollar cryptocurrency fraud defends his actions as divine order 🙏

A rather strange twist in the crypto world 🌐. Eli Regalado, an online pastor from Colorado, admitted to selling a worthless cryptocurrency to his followers. Over $3 million. Unbelievable. The man says it was “the Lord” who asked him to offer his followers to multiply their investments by ten ✨.

The Colorado Securities Commission did not see it as so divine. On January 18, it formally charged Eli and his wife Kaitlin with fraud regarding their fake coin “INDXcoin” 💸. It appears they diverted $1.3 million.

Tung Chan, the Commissioner, is clear about it. The couple took advantage of the faith of their Christian community. They sold promises of wealth. Digital coins that were practically useless 🔥. They focused on Christians in Denver. Eli kept repeating that God himself had assured him of fortune for the investors.

In less than a year, they accumulated $3.2 million. More than 300 people fell. They used something called Kingdom Wealth Exchange 📈. The curious thing is that many were members of their virtual church, Victorious Grace.

The money… well. Half supposedly for taxes. Another part to remodel his house. A “divinely backed” project, according to him 🏡.

Kingdom Wealth Exchange closed in November. Lack of funds for servers, they said. Chan thinks differently. The lawsuit speaks of excessive spending. New teeth. Luxury items. Home renovation. Snowmobiles. Expensive vacations 💎.

It didn't end well for them. A judge in Denver found them guilty in September 2025. They must return $3.39 million. They can no longer sell cryptocurrencies in Colorado 🚫. And they have 40 pending criminal charges. Theft, fraud, organized crime 🔒.

While awaiting their criminal trial, this somewhat incredible case reminds us of the dangers of the crypto world. Too deregulated, perhaps 🌕.