How regrettable it is to see members of the body of Christ (His Church) involved in acts that cast doubt on our faith before unbelievers. By this I mean that many people’s excuse for not attending a local church is that there are many hypocrites in the church, and this is based on cases similar to that of Pastor Eligio Peter Regalado, who, together with his wife, faces 40 criminal charges in Colorado County for promoting a cryptocurrency created under the manipulation that it was “inspired by a divine instruction.”
Situations like this do not arise in a vacuum. They are the result of years in which discernment has been neglected and emotional manipulation has replaced sound biblical teaching. When leaders who claim spiritual authority use God’s name to validate financial schemes, the damage goes far beyond money. The testimony of the Church is weakened, and unbelievers feel justified in their skepticism toward Christianity as a whole.
What is INDXcoin?
The coin is named “INDXcoin”. It has been reported that Pastor Eligio and his wife, Kaitlyn Marie Regalado, raised some $3.5 million between January 2022 and July 2023 alone. Most concerning is that the largest investors have been Christians. Here we must pause: many believers are easily manipulated, since any mystic comes and tells them that this is a divine plan, and there they are donating their car, their pension fund, or buying these fake cryptocurrencies.
This reveals a serious problem within modern Christianity: the lack of biblical literacy and critical thinking among many believers. Instead of testing every message against Scripture, emotions and desperation often guide financial decisions. The promise of quick prosperity, when wrapped in spiritual language, becomes irresistible for those who are struggling economically or spiritually vulnerable.
The prosperity gospel in disguise
In the details from the Denver District Attorney’s Office we see once again the prosperity gospel, but on a larger scale. These promoters claim that the coin is a mechanism of “wealth transfer ordained by God Himself to benefit the finances of believers.” Pastor Eligio asserted that it was God who spoke to him about this project through revelations in 2021.
This teaching is not new. It is simply repackaged to fit modern trends, in this case cryptocurrency. Scripture never teaches that God guarantees financial abundance to His people through investments or speculative schemes. On the contrary, the Bible consistently warns against the love of money and reminds believers that faithfulness to God does not equate to material wealth.
A fraud wrapped in religious language
Many of the complaints indicate that nearly $2 million were used for personal matters of the pastor and his wife. And yes, it is regrettable to see how thousands of believers lose their money simply by having faith in things that are not biblical. Dear believer, God has not promised to multiply your income. He has not promised that if you give Him 10, He will give you 100. That is a tremendous fallacy that only leads you to give your money to a man whose goal is to enrich himself.
True Christian faith is centered on obedience, humility, and trust in God regardless of circumstances. Financial stewardship is important, but it must be guided by wisdom, honesty, and accountability. When a leader discourages questions, avoids transparency, or claims exclusive divine revelation to justify financial demands, these are serious warning signs.
May this case serve as a sober reminder for all believers to remain vigilant, to study Scripture diligently, and to place their trust in Christ alone—not in men, promises of wealth, or so-called divine financial shortcuts. The Gospel was never meant to be a tool for personal enrichment, but a message of redemption, truth, and eternal hope.