Crypto Scam Tied to 'God's Will' Exposes Vulnerabilities in Faith-Based Investing

Eli Regalado claims God guided him into cryptocurrency investing in 2021. He and his wife, Kaitlyn, believed divine messages instructed them to sell a digital coin gifted by Eli's sister and launch their own. They promoted INDXcoin through evangelical Christian circles.

The Regalados raised over $3 million from more than 500 people, including the Bonillas, who withdrew $70,000 from their retirement accounts. However, the project collapsed within a year, leaving investors with significant losses.

Eli acknowledged initial reservations about crypto but cited God's guidance as motivation to invest in INDXcoin. The couple maintained they had no background in cryptocurrency and learned as they went along.