SEC Charges Unicoin with $100 Million Fraud

The U.S. Securities and Exchange Commission has charged New York’s crypto firm Unicoin and its top executives for allegedly defrauding investors by selling bogus rights certificates. Unicoin claimed their tokens were backed by assets like real estate and equities, but the SEC states these claims were largely false. Over $3 billion in rights certificates were allegedly claimed to be sold, while actual sales were around $110 million. The case is filed in New York’s district court, targeting key executives for antifraud violations.