Maksim Zaslavskiy
The Brooklyn entrepreneur behind the RECoin and Diamond Reserve Club ICOs. His was the first criminal case to test whether ICO tokens are securities; he pleaded guilty to securities-fraud conspiracy and was sentenced in 2019 to 18 months in prison.
Also known as: Maksim Zaslavskiy
Bio
Maksim Zaslavskiy marketed RECoin as "The First Ever Cryptocurrency Backed by Real Estate" and the Diamond Reserve Club (DRC) token as backed by diamonds. Prosecutors said neither asset existed — he bought no real estate or diamonds, and the certificates sent to investors were worthless. He raised at least $300,000 from over 1,000 investors. [1][2]
Legal outcome
Zaslavskiy's prosecution was the first criminal case to consider whether ICO tokens are "securities" under U.S. law; the court allowed it to proceed. He pleaded guilty to conspiracy to commit securities fraud in November 2018 and, on November 18, 2019, was sentenced to 18 months in prison plus three years of supervised release. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
- Maksim Zaslavskiy gets 18-month prison sentence over ICO fraud — FinanceFeeds (DOJ release summary)
- United States v. Zaslavskiy (docket) — CourtListener
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.