TexitCoin has received a securities fraud cease and desist from the Texas State Securities Board (TSSB).

As per TSSB’s February 11th TexitCoin fraud order;

Respondent TEXITcoin, Respondent MineTXC, Respondent Mint, and Respondent Gray (hereinafter “Respondents”) are issuing passive investments in cryptocurrency mining referred to as packages (hereinafter referred to as “Mining Packages”), and they are representing that once investors purchase a package, investors have their”…seat on the rocket ship, and now you can simply sit back and enjoy the ride.”

Respondents are using a multi-level marketing network of sales agents to offer and sell the Mining Packages, and they are paying bonuses and commissions to these agents.

These sales agents are using social media and online media to offer the Mining Packages, recruit new sales agents, and direct potential investors to Respondents.

Respondents are engaging in illegal, fraudulent, deceptive, and/or misleading practices in connection with the offer of the Mining Packages to Texas residents.

TexitCoin is an MLM crypto Ponzi run by Bobby Gray, aka Rob Gray and Robert J. Gray

TexitCoin sees consumers, most of which are believed to be US residents, pitched to invest in TXC token “mining packages”.

This is done on the promise of a passive return, paid out in TXC token. The Ponzi aspect of TexitCoin sees Gray and early investors cash out previously invested funds.

Meanwhile with nothing marketed or sold to retail customers, the MLM side of TexitCoin operates as a pyramid scheme.

From the TSSB;

The Mining Packages are securities as that term is defined in Section 4001.068 of the Securities Act

The Mining Packages have not been registered by qualification, notification coordination, and no permit has been granted for their sale in Texas.

Respondents have not been registered with the Securities Commissioner dealers or agents at any time material hereto.

Respondents are violating Section 4003.001 of the Securities Act by offering securities for sale in Texas at a time when the securities are not registered with or permitted by the Securities Commissioner.

Respondents are violating Section 4004.051 of the Securities Act by offering securities for sale in Texas without being registered pursuant to the provisions of Section 4004.051 of the Securities Act.

Respondents are engaging in fraud in connection with the offer for the sale of securities.

Respondents are making offers containing statements that are materially misleading or otherwise likely to deceive the public.

Respondents’ conduct, acts, and practices threaten immediate and irreparable public harm.

As of February 11th, TexitCoin and its promoters have been ordered to immediately cease and desist operations in Texas. This includes promotion of TexitCoin to US residents.

Texas state securities law is practically identical to federal US securities law. BehindMLM identified nationwide securities fraud in our September 2025 TexitCoin review.

We also noted TexitCoin’s initial collapse towards late December 2025.

In the hours after TSSB issued its TexitCoin fraud order, Bobby Gray and other insiders have been cashing out.

TSSB’s investigation has seen them peg TexitCoin investor losses at “over $147 million”:

The MineTXC Website claims Respondents have raised over $147 million and paid out approximately $65 million in commissions.

Pending further action from the SEC and/or DOJ, the total number of TexitCoin investors and how much they’ve lost is unknown.