Unicoin Challenges SEC Lawsuit, Denies Misleading Investors in $100M Case

Highlights:

• Unicoin has challenged the SEC lawsuit by claiming disclosures were distorted and projections were wrongly treated as fraud.
• The SEC had accused the company of overstating asset values and misleading investors.
• The company says SEC actions halted its token launch and harmed more than 8,000 investors with stalled progress.

Unicoin, a crypto firm, has challenged a lawsuit brought against it by the SEC. The New York City-based company has argued the agency distorted key information and ignored disclosures. The company filed its motion to dismiss in a New York federal court, stating that the complaint misrepresented communications and labeled routine optimism as fraud.

Advertisement

Unicoin just clapped back at the SEC in a big way 😤. After months of silence, they’re calling out the agency for allegedly twisting their filings to build a $100M fraud case. According to Unicoin, the SEC cherry-picked quotes, ignored risk warnings, and turned optimism into… pic.twitter.com/WJygIs5ayU

— Seven Crypto 🐋 (@SevenWinse) August 29, 2025

Unicoin and its three executives—CEO Alex Konanykhin, board member Silvina Moschini, and former investment chief Alex Dominguez—were slapped with a lawsuit in May by the SEC. The regulator accused them of raising more than $100 million by misleading investors about certificates tied to future tokens and company stock.

According to the SEC, Unicoin promoted billions of dollars in rights certificates but had only sold $110 million. The complaint also claimed the company falsely described the certificates as SEC-registered and exaggerated its financial health. Executives were accused by regulators of inflating the value of real estate deals. The agency further said Unicoin led investors to believe that billions in assets would back its upcoming token, while those assets carried a much lower value. The lawsuit alleged that the company used ambitious projections to attract funds and presented them as fact.

Company Pushes Back as Unicoin Challenges SEC Lawsuit

Unicoin said the SEC used isolated statements without their original context to support its claims. The company argued that it disclosed risks openly and repeatedly, yet regulators presented standard projections as deception. It insisted that tokens mentioned in the complaint did not exist at the time, so any asset-backing statements reflected future expectations.

In its filing, the firm said the lawsuit amounted to a “shotgun pleading” that lacked motive and relied on circumstantial evidence. The motion highlighted that securities fraud requires intentional false statements, which it said the SEC did not prove. Not a single defendant, according to Unicoin, asserted that the tokens would serve as a fully collateralized investment.

The CEO, Alex Konanykhin, said that the SEC’s anti-business actions were driven by political agendas. He said that by sending subpoenas and inaccurately describing emails, the government ruined crucial investor and company connections. He added that Unicoin followed compliance steps by publishing audited financial reports, registering securities, and restricting participation to accredited investors.

The SEC charges are blatantly false. Unicoin became the final target of Gary Gensler's notorious War on Crypto, see my recent FOX Business interview and other relevant info at https://t.co/sgBDrXJ53L With best wishes, Alex Konanykhin / CEO of Unicoin

— AKonanykhin (@AKonanykhin) June 17, 2025

The company also said the case has blocked it from launching tokens and backing them with assets. It argued that the SEC aims to hold it responsible for not creating collateralized tokens that were never part of its initial plans. Konanykhin said the action cost investors billions in lost value and derailed the company’s progress.

Disputed Asset Deals and Investor Fallout

Unicoin said that the SEC conflated the value of the agreement with the value of the property. The company said it secured binding agreements for properties, though some transfers had not yet closed. Executives argued that the agency ignored these contractual commitments and instead framed them as unfulfilled promises.

Konanykhin said the SEC’s intervention halted Unicoin’s token launch and damaged the prospects of more than 8,000 investors. He argued that if the firm had gone public earlier, it could have achieved a valuation of $25 billion. Instead, the company now faces a legal fight that has stalled its growth and challenged its survival.

Advertisement