Audit log

Every state-changing event for Saitama Token / Manpreet Kohli: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions are designed to carry three independent witnesses — the original source, an Internet Archive snapshot, and a Solana memo signed by our publicly-disclosed publisher key. Archive coverage is still being backfilled, so each decision below reports its own snapshot status rather than assuming one exists.

1. #1publishby system:backfill

   2026-08-28 12:05:45Z
   Score: ? → ? (no score change)
   anchorpending

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   BBxiGsvfd2kK…tt9Xu4PNcopysha256 → base58

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   {"actor":"system:backfill","investigation_id":"9e6a26f6-964c-4dfe-8a66-840eb78045d3","kind":"publish","page_slug":"saitama-token-manpreet-kohli","published_at":"2026-08-28T12:05:45.412Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Saitama Token / Manpreet Kohli","sections":[{"content":"Saitama Inu (ticker: SAITAMA) was an Ethereum-based ERC-20 token launched on May 30, 2021. It was initially presented as a meme and community token inspired by the anime character Saitama, and promoted with a 2% reflection mechanism that redistributed a portion of each transaction to existing holders. The project's leadership publicly marketed an expanding 'Saitama ecosystem' that purportedly included a smart wallet application called SaitaMask, a real estate token called SaitaRealty, and various DeFi products. At its reported peak in November 2021, the token reached an approximate market capitalization of $7.5 billion, driven by rapid community growth and heavy social media promotion. The token went through multiple contract migrations and a supply reduction, then underwent a full rebrand to SaitaChain Coin (STC) in December 2023.","heading":"Project Overview","severity":"high","sources":[{"credibility":2,"name":"What Happened to Saitama Inu: The Rise and Fall of a Cryptocurrency — Bitget","type":"news_article","url":"https://www.bitget.com/wiki/what-happened-to-saitama-inu"},{"credibility":2,"name":"Saitama Token transitions to SaitaChain Coin (STC) — official blog","type":"official","url":"https://www.saitamatoken.com/blog/saitama-token-transitions-to-saitachain-coin"}]},{"content":"On October 9, 2024, the U.S. Securities and Exchange Commission filed a civil complaint (Case No. 1:24-cv-12586-AK, District of Massachusetts) against four individuals: Russell Armand (alleged CEO, a/k/a 'Saitamaguru1'), Maxwell Hernandez (alleged CTO, a/k/a 'MaxEquation'), Manpreet Singh Kohli (alleged CFO, a/k/a 'Mkay Saitama' and 'mannythehitman'), and Nam Tran (alleged Chief Business Officer). The SEC alleged that the defendants engaged in schemes to manipulate the markets for Saitama Inu and SaitaRealty, which the SEC characterized as securities being offered and sold to retail investors without a registration statement on file and with no available exemption. According to the SEC complaint, the defendants allegedly made false public representations about the development of a 'Saitama ecosystem' of products in order to artificially inflate the value of the token. The SEC further alleged the defendants made public statements claiming they were buying and holding Saitama tokens while privately selling substantial quantities for personal profit. The SEC also alleged the defendants hired third-party market-making firms — specifically ZM Quant Investment Ltd. and Gotbit Consulting LLC — to conduct wash trading and provide artificial trading volume. The litigation release is publicly accessible at SEC.gov Litigation Release No. 26155. These are civil allegations; no civil judgment has been entered as of August 2026.","heading":"SEC Civil Enforcement Action (October 2024)","severity":"critical","sources":[{"credibility":1,"name":"SEC Litigation Release No. 26155 — Russell Armand, Maxwell Hernandez, Manpreet Singh Kohli, and Nam Tran","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26155"},{"credibility":2,"name":"SEC Crypto Litigation Releases — October 2024 — Kelman PLLC","type":"news_article","url":"https://kelman.law/sec-crypto-litigation-releases-october-2024/"}]},{"content":"On the same date, October 9, 2024, the U.S. Department of Justice announced criminal charges against 18 individuals and entities as part of Operation Token Mirrors, an investigation based out of the U.S. Attorney's Office for the District of Massachusetts. This operation was notable in that the FBI created its own cryptocurrency company and token to identify and document alleged fraud and wash trading by market participants. Manpreet Singh Kohli was charged in a superseding indictment with wire fraud, market manipulation, conspiracy to commit wire fraud, conspiracy to commit market manipulation, and operating an unlicensed money-transmitting business. Prosecutors allege Kohli personally earned approximately $20 million through the alleged scheme. Russell Armand separately pleaded guilty to market manipulation and conspiracy charges. These are criminal charges and allegations at the indictment stage; Kohli has not been convicted and maintains the legal presumption of innocence.","heading":"DOJ Criminal Charges — Operation Token Mirrors (October 2024)","severity":"critical","sources":[{"credibility":1,"name":"DOJ — Eighteen Individuals and Entities Charged in International Operation Targeting Widespread Fraud and Manipulation in the Cryptocurrency Markets","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread"},{"credibility":2,"name":"Crypto CEO Faces US Extradition Over Alleged $20 Million Token Scheme — Decrypt","type":"news_article","url":"https://decrypt.co/376617/crypto-ceo-extradition-20-million-scheme"},{"credibility":2,"name":"FBI Creates Token Project In Trojan Horse Crypto Operation That Seizes $25 Million — TRM Labs","type":"research","url":"https://www.trmlabs.com/resources/blog/fbi-creates-token-project-in-trojan-horse-crypto-operation-that-seizes-25-million"}]},{"content":"Manpreet Singh Kohli, described as a 45-year-old Indian national residing in the United Kingdom, was arrested in London in 2024. He challenged his extradition to the United States. On August 19, 2026, British Judge Samuel Goozee rejected Kohli's extradition challenge. The court dismissed Kohli's argument that U.S. authorities could not adequately protect his mental health while in custody, determining that appropriate measures were available during transfer and within the U.S. prison system. The judge sent the case to the U.K. government for a ministerial decision on the extradition request. Kohli remains free in the UK on £200,000 (approximately $272,400) bail and retains the right to appeal the ruling. A federal judge in Boston previously rejected Kohli's bid to dismiss the indictment, which had argued that Saitama should not be classified as a security. No conviction has been entered as of August 2026.","heading":"UK Extradition Proceedings — Manpreet Singh Kohli","severity":"critical","sources":[{"credibility":2,"name":"Saitama CEO Loses UK Challenge to Extradition Over US Fraud Charges — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/08/27/saitama-ceo-loses-uk-challenge-to-extradition-over-us-fraud-charges/"},{"credibility":2,"name":"Crypto executive loses bid to block extradition to US on fraud charges — Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/crypto-ceo-extradition-uk-us-fraud/"},{"credibility":2,"name":"Cryptocurrency chief Manpreet Kohli facing extradition from UK to US on fraud charges — News India Times","type":"news_article","url":"https://newsindiatimes.com/cryptocurrency-chief-manpreet-kohli-facing-extradition-from-uk-to-us-on-fraud-charges/"},{"credibility":2,"name":"Saitama Crypto Executive Loses UK Extradition Challenge in U.S. Fraud Case — CryptoMeter","type":"news_article","url":"https://www.cryptometer.io/news/saitama-crypto-executive-loses-uk-extradition-challenge-in-u-s-fraud-case/"}]},{"content":"According to U.S. prosecutors and the SEC complaint, the alleged manipulation campaign began around July 2021. The scheme allegedly involved coordinating small token purchases spread across multiple cryptocurrency wallets, with coordination conducted via Telegram. One defendant allegedly explained in those communications that the goal was to 'create an illusion of massive buys and new holders' to encourage additional purchases by retail investors — a pattern prosecutors characterize as a pump-and-dump. Defendants allegedly sold their tokens at artificially inflated prices while publicly claiming to hold. The project also allegedly hired Gotbit Consulting LLC and ZM Quant Investment Ltd. to conduct wash trading — coordinated fictitious transactions designed to create the appearance of genuine trading volume — on multiple cryptocurrency exchanges. These are allegations contained in civil and criminal filings; no trial verdict has been rendered as of August 2026.","heading":"Alleged Market Manipulation Scheme","severity":"critical","sources":[{"credibility":1,"name":"SEC Litigation Release No. 26155","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26155"},{"credibility":2,"name":"Saitama Inu: What Happened? — Koinly","type":"news_article","url":"https://koinly.io/blog/saitama-inu/"}]},{"content":"Gotbit Consulting LLC was one of two market-making firms the SEC alleged was hired by Saitama's leadership to conduct wash trading. Gotbit's founder and CEO, Aleksei Andriunin, pleaded guilty in March 2025 to charges of wire fraud and conspiracy to commit market manipulation. Andriunin admitted to manipulating the trading price and volume of tokens for clients including Saitama. He was subsequently sentenced to eight months in prison and one year of supervised release. Gotbit was sentenced to five years of probation and ordered to forfeit approximately $23 million in seized cryptocurrency and to cease all operations. This constitutes an entered judicial finding that wash trading in Saitama's market occurred, though it does not constitute a finding against Kohli or other Saitama executives, whose cases remain pending.","heading":"Related Party: Gotbit Consulting LLC Sentenced","severity":"critical","sources":[{"credibility":2,"name":"Founder and CEO of Gotbit sentenced for fraud and market manipulation — CyberNews","type":"news_article","url":"https://cybernews.com/news/cryptocurrency-firm-founder-sentenced-for-fraud-and-market-manipulation/"},{"credibility":2,"name":"Crypto market maker Gotbit and founder sentenced for fraud, manipulation — CryptoSlate","type":"news_article","url":"https://cryptoslate.com/crypto-market-maker-gotbit-and-founder-sentenced-for-fraud-manipulation/"},{"credibility":1,"name":"DOJ — Cryptocurrency financial services firm Gotbit and founder sentenced for market manipulation","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/cryptocurrency-financial-services-firm-gotbit-and-founder-sentenced-market-manipulation"}]},{"content":"Following the peak market capitalization of approximately $7.5 billion in November 2021, the Saitama Inu token suffered a significant decline. A November 2021 event at the MGM Grand in Las Vegas, held to celebrate the SaitaMask wallet launch, was widely reported as disorganized and lacking technical readiness, and was followed by a sharp price decline. In June 2022, the project introduced a new V2 token contract at a 1:1,000,000 exchange ratio, reducing the total supply from 100 quadrillion to 100 billion. Saitama LLC was dissolved in June 2022, and according to the SEC complaint, Armand, Kohli, and Tran subsequently formed a new company in Dubai. In December 2023, the project underwent a further rebrand to SaitaChain Coin (STC) on new BEP20 and ERC20 contracts. The STC token continues to trade with substantially lower liquidity and market interest than the original token's peak.","heading":"Token Collapse and Rebrands","severity":"high","sources":[{"credibility":2,"name":"What Happened to Saitama Inu: The Rise and Fall of a Cryptocurrency — Bitget","type":"news_article","url":"https://www.bitget.com/wiki/what-happened-to-saitama-inu"},{"credibility":2,"name":"Saitama Inu (SAITAMA) Price Prediction — MEXC News","type":"news_article","url":"https://www.mexc.com/news/1008673"}]},{"content":"In addition to the extradition challenge, Manpreet Kohli pursued a legal argument that Saitama Inu should not be classified as a security under U.S. law, which would have undermined a significant portion of the SEC's case and limited federal jurisdiction. A federal judge in Boston rejected this argument and declined to dismiss the indictment. This ruling means the criminal case against Kohli remains active in the U.S. courts pending resolution of the extradition proceedings. The legal analysis of whether a token constitutes a security remains an active area of U.S. crypto law.","heading":"Kohli's Jurisdictional Challenge","severity":"medium","sources":[{"credibility":2,"name":"Manpreet Kohli Fights SEC Jurisdiction in Crypto Case — Dynamis LLP","type":"other","url":"https://www.dynamisllp.com/media/uk-citizen-challenges-sec-jurisdiction-crypto"},{"credibility":1,"name":"Saitama Crypto Chief Kohli Seeks Dismissal of US Fraud, Manipulation Charges — MLex","type":"news_article","url":"https://www.mlex.com/mlex/articles/2409142/saitama-crypto-chief-kohli-seeks-dismissal-of-us-fraud-manipulation-charges"}]}],"sources_used":[{"credibility":1,"name":"SEC Litigation Release No. 26155 — Russell Armand, Maxwell Hernandez, Manpreet Singh Kohli, and Nam Tran","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26155"},{"credibility":1,"name":"DOJ — Eighteen Individuals and Entities Charged in International Operation Targeting Widespread Fraud and Manipulation in the Cryptocurrency Markets","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread"},{"credibility":1,"name":"DOJ — Cryptocurrency financial services firm Gotbit and founder sentenced for market manipulation","type":"regulatory","url":"https://www.justice.gov/usao-ma/pr/cryptocurrency-financial-services-firm-gotbit-and-founder-sentenced-market-manipulation"},{"credibility":2,"name":"Crypto CEO Faces US Extradition Over Alleged $20 Million Token Scheme — Decrypt","type":"news_article","url":"https://decrypt.co/376617/crypto-ceo-extradition-20-million-scheme"},{"credibility":2,"name":"Saitama CEO Loses UK Challenge to Extradition Over US Fraud Charges — CryptoTimes","type":"news_article","url":"https://www.cryptotimes.io/2026/08/27/saitama-ceo-loses-uk-challenge-to-extradition-over-us-fraud-charges/"},{"credibility":2,"name":"Crypto executive loses bid to block extradition to US on fraud charges — Crypto Briefing","type":"news_article","url":"https://cryptobriefing.com/crypto-ceo-extradition-uk-us-fraud/"},{"credibility":2,"name":"Saitama Crypto Executive Loses UK Extradition Challenge in U.S. Fraud Case — CryptoMeter","type":"news_article","url":"https://www.cryptometer.io/news/saitama-crypto-executive-loses-uk-extradition-challenge-in-u-s-fraud-case/"},{"credibility":2,"name":"Cryptocurrency chief Manpreet Kohli facing extradition from UK to US on fraud charges — News India Times","type":"news_article","url":"https://newsindiatimes.com/cryptocurrency-chief-manpreet-kohli-facing-extradition-from-uk-to-us-on-fraud-charges/"},{"credibility":2,"name":"Former Saitama CEO Faces Extradition to US Over Crypto Market Manipulation Allegations — Crypto Economy","type":"news_article","url":"https://crypto-economy.com/former-saitama-ceo-faces-extradition-to-us-over-crypto-market-manipulation-allegations/"},{"credibility":2,"name":"Founder and CEO of Gotbit sentenced for fraud and market manipulation — CyberNews","type":"news_article","url":"https://cybernews.com/news/cryptocurrency-firm-founder-sentenced-for-fraud-and-market-manipulation/"},{"credibility":2,"name":"Crypto market maker Gotbit and founder sentenced for fraud, manipulation — CryptoSlate","type":"news_article","url":"https://cryptoslate.com/crypto-market-maker-gotbit-and-founder-sentenced-for-fraud-manipulation/"},{"credibility":2,"name":"FBI Creates Token Project In Trojan Horse Crypto Operation That Seizes $25 Million — TRM Labs","type":"research","url":"https://www.trmlabs.com/resources/blog/fbi-creates-token-project-in-trojan-horse-crypto-operation-that-seizes-25-million"},{"credibility":2,"name":"What Happened to Saitama Inu: The Rise and Fall of a Cryptocurrency — Bitget","type":"news_article","url":"https://www.bitget.com/wiki/what-happened-to-saitama-inu"},{"credibility":2,"name":"Saitama Inu: What Happened? — Koinly","type":"news_article","url":"https://koinly.io/blog/saitama-inu/"},{"credibility":2,"name":"Saitama Token transitions to SaitaChain Coin (STC) — official blog","type":"official","url":"https://www.saitamatoken.com/blog/saitama-token-transitions-to-saitachain-coin"},{"credibility":2,"name":"Manpreet Kohli Fights SEC Jurisdiction in Crypto Case — Dynamis LLP","type":"other","url":"https://www.dynamisllp.com/media/uk-citizen-challenges-sec-jurisdiction-crypto"},{"credibility":1,"name":"Saitama Crypto Chief Kohli Seeks Dismissal of US Fraud, Manipulation Charges — MLex","type":"news_article","url":"https://www.mlex.com/mlex/articles/2409142/saitama-crypto-chief-kohli-seeks-dismissal-of-us-fraud-manipulation-charges"},{"credibility":2,"name":"SEC Crypto Litigation Releases — October 2024 — Kelman PLLC","type":"news_article","url":"https://kelman.law/sec-crypto-litigation-releases-october-2024/"}],"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.","timeline":[{"date":"2021-05-30","event":"Saitama Inu (SAITAMA) token launched on Ethereum.","source":"Bitget Wiki — What Happened to Saitama Inu","source_url":"https://www.bitget.com/wiki/what-happened-to-saitama-inu"},{"date":"2021-07-01","event":"Alleged market manipulation campaign begins, according to U.S. prosecutors; coordinated wallet purchases and Telegram communications to simulate trading activity.","source":"SEC Litigation Release No. 26155","source_url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26155"},{"date":"2021-11-01","event":"Saitama Inu reaches reported peak market capitalization of approximately $7.5 billion.","source":"Decrypt — Crypto CEO Faces US Extradition Over Alleged $20 Million Token Scheme","source_url":"https://decrypt.co/376617/crypto-ceo-extradition-20-million-scheme"},{"date":"2021-11-01","event":"Las Vegas MGM Grand SaitaMask launch event reported as disorganized; token price drops sharply following the event.","source":"Bitget Wiki — What Happened to Saitama Inu","source_url":"https://www.bitget.com/wiki/what-happened-to-saitama-inu"},{"date":"2022-05-18","event":"Maxwell Hernandez announces resignation from the Saitama project on social media.","source":"SEC complaint (comp-pr2024-166-saitama.pdf) via search results","source_url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26155"},{"date":"2022-06-01","event":"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.","source":"Bitget/MEXC reporting on Saitama history","source_url":"https://www.mexc.com/news/1008673"},{"date":"2023-12-01","event":"Project rebrands to SaitaChain Coin (STC) on new BEP20 and ERC20 contracts.","source":"SaitaChain official blog","source_url":"https://www.saitamatoken.com/blog/saitama-token-transitions-to-saitachain-coin"},{"date":"2024-10-09","event":"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.","source":"SEC Litigation Release No. 26155","source_url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26155"},{"date":"2024-10-09","event":"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.","source":"DOJ — District of Massachusetts press release","source_url":"https://www.justice.gov/usao-ma/pr/eighteen-individuals-and-entities-charged-international-operation-targeting-widespread"},{"date":"2025-03-01","event":"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.","source":"DOJ — Gotbit sentencing press release","source_url":"https://www.justice.gov/usao-ma/pr/cryptocurrency-financial-services-firm-gotbit-and-founder-sentenced-market-manipulation"},{"date":"2025-06-01","event":"Gotbit sentenced to five years' probation and ordered to forfeit approximately $23 million; founder Andriunin sentenced to eight months in prison.","source":"CryptoSlate — Gotbit and founder sentenced","source_url":"https://cryptoslate.com/crypto-market-maker-gotbit-and-founder-sentenced-for-fraud-manipulation/"},{"date":"2026-08-19","event":"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.","source":"CryptoTimes — Saitama CEO Loses UK Challenge to Extradition","source_url":"https://www.cryptotimes.io/2026/08/27/saitama-ceo-loses-uk-challenge-to-extradition-over-us-fraud-charges/"}]},"v":1}

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