Unicoin Accuses SEC of “Twisting” Filings in Fight to Dismiss Fraud Case

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Cryptocurrency investment platform Unicoin has launched a fierce counterattack against the US Securities and Exchange Commission (SEC), filing a motion to dismiss the agency’s $100 million fraud lawsuit.

In a legal filing submitted to a New York federal judge on Wednesday, Unicoin accused the SEC of constructing its case by distorting the company’s official statements and regulatory disclosures. The company called the SEC’s tactics “bizarre,” stating the regulator has “improperly recast” its own SEC filings as “proof of deception.”

The core of Unicoin’s defense is that the SEC has mischaracterized routine business communications. The company argues that what the agency labels as fraud were actually sober financial projections and optimistic statements that were always accompanied by clear and repeated risk warnings.

Unicoin claims the SEC’s lawsuit, which also names CEO Alex Konanykhin and others, fails to meet the high legal standard for securities fraud. The firm asserts that without proof of a knowingly false statement that investors relied on—especially when risks were disclosed—the case should be thrown out.