A self-developed cryptocurrency, INDXcoin, was launched by the Regalados as part of a broader Kingdom Wealth Community plan tied to a proprietary exchange, with evangelical outreach and assurances of divine support and potential profits.

Eli and Kaitlyn Regalado say they received direct messages from God guiding them to cryptocurrency ventures, including selling Sumcoin to fund a church-connected financial ministry before creating INDXcoin.

Guided by supposed divine messages, the Regalados shifted from religious ministry work to launching their crypto project in 2021, culminating in INDXcoin.

Audits revealed serious technical and financial shortcomings—security concerns, liquidity problems, and warnings of undercapitalization—causing investors to urge caution and question reserves.

After the exchange failure, the Regalados faced a securities fraud investigation in Colorado, with accusations of unregistered securities sales and a civil suit alleging misuse of investor funds and deceptive practices.

Investigations and lawsuits intensified: a Denver civil suit claimed they used Christian faith to sell a essentially worthless cryptocurrency, and in 2025 they faced felony counts including theft, racketeering, and securities fraud.

The April 2023 Kingdom Wealth Exchange launch showed instability, with liquidity issues and an inability to convert INDXcoin to fiat or other assets, fueling suspicions of drained funds.

The exchange launch quickly collapsed as sell orders overwhelmed buys; sales were suspended and the platform shut down, leaving funds effectively drained.

The broader crypto market context features rising fraud risk, fragmented regulation, and ongoing affinity fraud targeting religious communities, underscoring faith-based investor vulnerabilities.

Eli Regalado’s background includes a criminal past and prison time, followed by a turn to charismatic Christianity and entrepreneurship, with Kaitlyn joining as partner and operator.

Regulatory concerns emerged over whether INDXcoin was a security, with attempts to reclassify it as a utility token and counsel warnings about securities laws and liquidity.

Regulatory and legal trouble intensified: the couple tried to frame INDXcoin as a utility token, faced attorney warnings, and ultimately built the Kingdom Wealth Exchange to enable trading of INDXcoin.