SEC Files Fraud Charges Against Unicoin Executives: $100 Million Crypto Scam

The U.S. Securities and Exchange Commission (SEC) has filed fraud charges against Unicoin, its executives, and 5,000 investors for a $100 million crypto scheme. Allegations center on the misrepresentation of asset backing, leading to investor losses and market distrust. The SEC claims that Unicoin falsely promised real-world property backing for its tokens, while in reality, the assets were significantly less valuable than claimed.