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SEC Charges Unicoin Execs with Fraud

The crypto platform 'exploited thousands of investors with fictitious promises,' the suit alleges.
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May 21, 2025 • 1 min read

The SEC has charged Unicoin executives with violating federal securities laws, accusing the project of falsely claiming SEC registration for Unicoin tokens while raising $110 million. The charges highlight alleged misstatements by top leadership, including CEO Alex Konanykhin and General Counsel Richard Devlin, with the latter agreeing to a penalty.

What’s the Scoop?

  • SEC Allegations: The SEC accuses Unicoin of falsely claiming their tokens and rights certificates were registered and exaggerating fundraising amounts.
  • Executive Charges: Key leadership, including CEO Alex Konanykhin and former CIO Alex Dominguez, faced charges for alleged antifraud violations.
  • Settlement Reached: General Counsel Richard Devlin agreed to a penalty of $37,500 without admitting or denying the accusations.

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