INDXcoin Scam: Pastor Duo Accused of Exploiting Believers

Crypto News Regulation

INDXcoin Collapse: Pastor Duo Accused of Exploiting Believers

Written by Aaron S.,

Editor-In-Chief

Last Updated: July 23, 2025

Key Takeaways

Denver couple faces 40 charges after raising $3.4 million through a crypto token sold to their faith-based community;
Over 300 people lost money in INDXcoin, which authorities said had no real market value;
At least $1.3 million of investor funds was allegedly used to cover personal expenses, including home renovations.

Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁

INDXcoin Collapse: Pastor Duo Accused of Exploiting Believers

BITDEGREE IN YOUR SOCIAL FEED

A couple from Denver, Colorado, who led an online religious community, has been formally accused of running a cryptocurrency scheme that brought in millions from people within their faith circle.

District Attorney John Walsh announced the charges on July 22. He called the case a major step in holding the couple responsible for the damage caused.

Eli Regalado and his wife, Kaitlyn, face 40 charges related to promoting and selling a digital coin they created, called INDXcoin.

Remittance Explained: Will This Newcomer Change the Game? (ANIMATED)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

The couple reportedly asked members of their religious network to invest in INDXcoin through a trading platform they ran, called Kingdom Wealth Exchange, between January 2022 and July 2023.

In total, they raised about $3.4 million. Authorities say the coin held no actual value, and over 300 people lost money.

Out of the money collected, at least $1.3 million was allegedly used for personal expenses. This included paying for work on their home, which they claimed was done based on guidance from "the Lord". Only a small portion of the funds was allocated to developing the business itself.

According to the latest indictment, most of the investor money went straight into the couple’s personal accounts. Authorities said the promises of high returns and religious messaging were used to build trust and convince people to invest, despite the coin having no market value.

Recently, Shane Donovan Moore, a former rugby player from Seattle, has been sentenced to 30 months in federal prison. What happened? Read the full story.