SEC to pay $4.6 million to BitClave investors affected by unregistered $25.5 million ICO in 2017 as part of settlement 💰

On November 20, the SEC announced payments of $4.6 million to investors affected by the BitClave ICO in 2017. The project raised $25.5 million in 32 seconds, but in 2020 the SEC charged the company with the unregistered sale of tokens. As part of the settlement, BitClave agreed to return the funds, pay $4 million in fines, and destroy the remaining tokens.