God Told Us to Create a Cryptocurrency So We Could Rip You Off

Of INDXcoin, Prosperity Gospel, and wolves in sheep’s clothing

David Anderson
Bouncin’ and Behavin’ Blogs

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Eli and Kaitlyn Regalado (screenshot via YouTube)

I write a lot about religion. Occasionally, I write about cryptocurrency. I guess it was just a matter of time before those two worlds collided.

Sometime in 2022, Pastor “Eli” Regalado told his congregation at Victorious Grace Church that God told him and his wife to create a cryptocurrency called INDXcoin and sell it to their church. More than 300 people bought in for a total of around $3.2 million according to the Colorado Department of Regulatory Agencies. Victorious Grace Church happens to be online only, so I’m guessing it’s not part of any organized denomination.

They sold INDXcoin through an exchange called Kingdom Wealth Exchange, which they also created and ran themselves. You would think if they created their own crypto and exchange, they must have experience in cryptocurrency, but you would be wrong. Auditors said the code for INDXcoin was “unsafe, unsecured, and riddled with serious technical problems.” But they lured in trusting parishioners with promises of a “low-risk and high return investment.”

Their testimony (to the court)

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David Anderson
Bouncin’ and Behavin’ Blogs

David Anderson is a blogger, award-winning author, bible geek, and novice crypto investor. Doubting Thomas is my patron saint.