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The Coin Rise 2025-08-29 13:10:39

Unicoin Pushes Back Against SEC Fraud Lawsuit: Details

Unicoin Pushes Back Against SEC Fraud Lawsuit: Details

Crypto investment platform Unicoin has moved to dismiss the fraud lawsuit brought against it by the US Securities and Exchange Commission (SEC), accusing the regulator of misrepresenting its statements and disclosures. In a filing submitted to a New York federal judge on Wednesday, Unicoin argued that the SEC had “plucked snippets of communications and distorted their meaning and context; treated routine financial projection and optimism as fraud; and ignored Unicoin’s sober warnings about risk.” The company went further, claiming the SEC had twisted even its own official disclosures. “Most bizarrely, the SEC twists Unicoin’s disclosures in the company’s own SEC filings and improperly recasts these disclosures as proof of deception,” the filing further read. The case stems from a May complaint in which the SEC alleged that Unicoin , its CEO Alex Konanykhin, board member Silvina Moschini, and former investment chief Alex Dominguez raised $100 million by misleading investors about certificates tied to future Unicoin tokens and stock. Unicoin Challenges SEC’s Evidence in Lawsuit Unicoin said the SEC’s fraud allegations failed to meet the legal threshold required for securities cases. “Securities fraud demands more. It requires a false statement, made with scienter, that reasonable investors would have relied on,” the company argued. “Where, as here, the very risks the SEC identifies were disclosed openly and repeatedly, those elements cannot be met.” The firm also described the lawsuit as a “shotgun pleading,” accusing the regulator of relying on circumstantial evidence, semantics, and “mischaracterizations of statements taken wholly out of context.” The SEC, for its part, claimed Unicoin misled investors by suggesting its forthcoming token would be backed by billions in real-world assets such as real estate and pre-IPO equity. According to the regulator, those assets were worth far less than advertised and the company misrepresented both its financial situation and sales figures—claiming over $3 billion in rights certificates sold when only $110 million had been raised. Dispute Over Token Backing Unicoin countered that the SEC’s interpretation in lawsuit was inaccurate. Executives had said the company itself was asset-backed, not that its token would function as a fully collateralized investment. Moreover, the tokens in question had not yet been minted. “The SEC seeks to hold Unicoin liable for failing to create tokens that are fully collateralized by real-world assets,” the company said, arguing the regulator was unfairly conflating forward-looking statements with deception. Unicoin has asked the court to dismiss the case with prejudice, which would bar the SEC from re-filing the complaint. The post Unicoin Pushes Back Against SEC Fraud Lawsuit: Details appeared first on TheCoinrise.com .

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