This is who we're reporting onTEXITcoin's own logo, shown for identification only. TexitScam.com is not affiliated with or endorsed by TEXITcoin in any way.
TexitScam.com tracks the public record on TEXITcoin, MineTXC, Blockchain Mint, and founder Robert “Bobby” Gray — the regulatory filings, the news coverage, and the technical red flags — so people considering "mining packages" or already holding them can make an informed decision.
On February 11, 2026, the Texas State Securities Board (TSSB) issued an Emergency Cease and Desist Order against TEXITcoin, MineTXC, Blockchain Mint, and their founder Robert J. "Bobby" Gray. The order alleges the companies fraudulently offered and sold unregistered securities — cryptocurrency "Mining Packages" marketed to investors as a "seat on the rocket ship" with promised daily returns — through a multi-level marketing structure that paid commissions for recruiting new buyers.
Important context: a cease-and-desist order contains regulators' allegations, not a final court verdict. TEXITcoin has retained the international law firm Quinn Emanuel Urquhart & Sullivan and, in July 2026, moved to have the case thrown out before its scheduled August 17, 2026 hearing. The TSSB opposed that motion. Separately, Gray has publicly confirmed receiving federal SEC subpoenas the same day the Texas order was issued — a subpoena is an investigative step, not a finding of wrongdoing, and neither the SEC nor DOJ has taken public action as of this writing. The matter is unresolved. We link directly to primary sources throughout so you can read the filings yourself.
Independent reporting also documented that Gray relocated to Hong Kong — which has no extradition treaty with the United States — shortly after the order was issued, and continued soliciting new investors on public calls in the days that followed. See the full timeline for dates, quotes, and sources.
None of this requires taking anyone's word for it — these are the specific, checkable characteristics that drew scrutiny.
The TSSB alleges the "Mining Packages" were sold in Texas without dealer or securities registration, and without the disclosures required of a securities offering — including the founder's bankruptcy history.
Independent analysis of MineTXC's own published hashrate figures found the network's actual mining capacity has run well short of the hashpower it has sold — yet buyers are credited rewards immediately regardless. See the breakdown →
Per the TSSB order, participants earned commissions and bonuses for recruiting other investors — a structure regulators specifically flagged as part of the fraud allegations, not an incidental marketing choice.
TEXITcoin markets itself as decentralized, but a single, permissioned party controls block production and mining-reward distribution — the opposite of how a permissionless proof-of-work coin like Bitcoin works.
TXC is built on a Litecoin-derived codebase — a common, low-effort starting point for new tokens. There is nothing about the underlying technology that is unique to TEXITcoin.
Related ventures under the same leadership — including Iskander Networks (a Wyoming entity now mining in Dubai) and Nectar Pay — have continued launching in other jurisdictions even as the original project remains under a Texas order, undercutting the original "Texas-mined" pitch. Timeline →
Independent reporting counts at least three to four admitted breaches or exploits in about a year, most recently one Gray acknowledged on camera in July 2026 without being able to say what it affected or cost. How it works →
Paraphrased from the TSSB's official order and press release (linked in full below) — read the primary source before drawing conclusions:
The Board's Enforcement Division found the respondents offered "seats on the rocket ship" promising daily returns tied to mining operations, sold without dealer or securities registration, and without giving investors the financial and operational information needed to evaluate the offer.
Read the TSSB's official release → · Read the order itself (PDF) →
We've put together a plain-language guide to reporting, documenting, and where to go for help — including the state and federal regulators already involved in this case.
Go to the resource guide