Unicoin allegedly targeted thousands of investors with unsupported promises that its crypto tokens would be backed by real-world assets including real estate holdings and equity interests in pre-IPO companies worth billions of dollars, the SEC said. "But as we allege, the real estate assets were worth a mere fraction of what the company claimed, and the majority of the company’s sales of rights certificates were illusory," said Mark Cave, associate director in the SEC's Division of Enforcement.
