Eli and Kaitlyn Regalado, a Denver pastor and his wife, have been indicted on 40 felony charges for allegedly defrauding Christian investors of $3.4 million through a cryptocurrency called INDXcoin between January 2022 and July 2023. The couple reportedly pocketed at least $1.3 million for personal luxuries such as cosmetic dentistry, luxury vacations, and home renovations, while claiming divine guidance for their venture. INDXcoin, marketed through their online church, Victorious Grace, managed to maintain zero value, resulting in total loss for all investors involved. Allegations also indicate that the Regalados controlled the Kingdom Wealth Exchange platform, occasionally shutting it down to prevent fund withdrawals. Despite admitting some allegations in a now-deleted video, Eli Regalado urged his followers to support them, insisting that their project is still directed by God. The Denver District Attorney's Office highlighted the case as a significant move toward holding the Regalados accountable for their actions, emphasizing the exploitation of faith-based connections to promise substantial returns.

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