Saitama Token / Manpreet Kohli
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Summary
Saitama Inu was an Ethereum-based meme token launched in May 2021 that reached a reported peak market capitalization of approximately $7.5 billion before collapsing. In October 2024, the U.S. Securities and Exchange Commission and Department of Justice announced civil and criminal charges against four Saitama executives — including alleged CFO Manpreet Singh Kohli — and 14 other individuals and entities for alleged market manipulation, wire fraud, and the sale of unregistered securities as part of DOJ's Operation Token Mirrors. Kohli, an Indian national residing in the UK, is currently contesting extradition to the United States; no conviction has been entered as of August 2026.
Connected Entities
1 entitiesTimeline(12 events)
30 May 2021
Saitama Inu (SAITAMA) token launched on Ethereum.
Bitget Wiki — What Happened to Saitama Inu1 July 2021
Alleged market manipulation campaign begins, according to U.S. prosecutors; coordinated wallet purchases and Telegram communications to simulate trading activity.
SEC Litigation Release No. 261551 November 2021
Saitama Inu reaches reported peak market capitalization of approximately $7.5 billion.
Decrypt — Crypto CEO Faces US Extradition Over Alleged $20 Million Token Scheme1 November 2021
Las Vegas MGM Grand SaitaMask launch event reported as disorganized; token price drops sharply following the event.
Bitget Wiki — What Happened to Saitama Inu18 May 2022
Maxwell Hernandez announces resignation from the Saitama project on social media.
SEC complaint (comp-pr2024-166-saitama.pdf) via search results1 June 2022
Saitama LLC dissolved. Saitama V2 token launched at 1:1,000,000 ratio, reducing supply from 100 quadrillion to 100 billion tokens. Armand, Kohli, and Tran allegedly form new company in Dubai.
Bitget/MEXC reporting on Saitama history1 December 2023
Project rebrands to SaitaChain Coin (STC) on new BEP20 and ERC20 contracts.
SaitaChain official blog9 October 2024
SEC files civil complaint against Russell Armand, Maxwell Hernandez, Manpreet Singh Kohli, and Nam Tran (Case No. 1:24-cv-12586-AK, D. Mass.) for alleged market manipulation and unregistered securities offerings related to Saitama Inu and SaitaRealty.
SEC Litigation Release No. 261559 October 2024
DOJ announces Operation Token Mirrors charges against 18 individuals and entities including Saitama executives. Kohli charged with wire fraud, market manipulation, and related conspiracy offenses. Russell Armand pleads guilty to market manipulation and conspiracy charges.
DOJ — District of Massachusetts press release1 March 2025
Gotbit founder Aleksei Andriunin pleads guilty to wire fraud and conspiracy to commit market manipulation, admitting to manipulating trading volume for Saitama among other tokens.
DOJ — Gotbit sentencing press release1 June 2025
Gotbit sentenced to five years' probation and ordered to forfeit approximately $23 million; founder Andriunin sentenced to eight months in prison.
CryptoSlate — Gotbit and founder sentenced19 August 2026
UK Judge Samuel Goozee rejects Manpreet Kohli's extradition challenge and refers the case to British ministers for a final decision. Kohli remains on £200,000 bail with appeal rights intact.
CryptoTimes — Saitama CEO Loses UK Challenge to ExtraditionDecision Log
- #1publish⛓ pending8/28/2026, 12:05:45 PMhash: BBxiGsvfd2kK6kxpeR2MJngYfUqg6reQA7Phtt9Xu4PN
16 of 18 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 8/28/2026, 12:05:32 PM
last updated: 8/28/2026, 8:07:41 PM
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