For Eli and Kaitlyn Regalado, the voice of God was a constant presence in their lives, guiding everything from their marriage and home purchases to the hiring decisions at Eli’s former marketing firm. They described these divine instructions as a quiet inner knowing or echoes in the mind that arrived during prayer or even in the shower. For years, this spiritual guidance provided a sense of absolute certainty, but in 2021, those directions took a sharp turn toward the volatile world of digital finance. Believing they were tasked with facilitating a wealth transfer for their community, the couple ventured into cryptocurrency despite having no prior experience in the field.
The result was the creation of INDXcoin, a digital currency marketed heavily within evangelical Christian circles. Trusting in the Regalados’ faith and perceived divine mandate, more than 500 investors poured upwards of 3 million dollars into the venture. Among them were retirees like Debbie and Jose Bonilla, who withdrew 70 thousand dollars from their life savings based on recommendations from their pastor. To these investors, the risk seemed minimal because it was backed by spiritual conviction rather than financial data. However, within a year, the project vanished entirely, leaving hundreds of believers with empty bank accounts and profound questions about where their money went.
The collapse highlights a dangerous intersection between blind faith and an almost completely unregulated industry. Experts note that creating a new cryptocurrency is now so simple that anyone can mint one, while federal oversight remains fragmented and inconsistent. With recent political shifts leading to scaled back enforcement by agencies like the SEC and Justice Department, critics argue that the door has been left wide open for opportunistic scams. While Eli Regalado maintains he believed he was following God’s will and feared becoming part of a church scam himself, his investors are left facing a harsh reality where divine promises failed to protect their earthly assets.