Enigma ICO Charged by SEC for huge money

about 4 years ago

Enigma ENG was some ICO in 2017 that I actually took part of but I'm long out. They got 45 million USD and now SEC wants them to pay back investors + pay extra 500k USD fee for selling unregistered securities.

Interesting that ENG doesn't care. Enigma, based in San Francisco and Israel, has agreed to return funds to harmed investors via a claims process, register its tokens as securities, file periodic reports with the SEC, and pay a $500,000 penalty.

Guy Zyskind the CEO of ENG wrote as reply - First, Enigma MPC has reached a settlement with the US Securities and Exchange Commission (SEC) related to the issuance of ENG tokens in September 2017. This settlement clears the way for our development team to focus fully on our original and continued vision: building groundbreaking privacy solutions that improve the adoption and usability of decentralized technologies, for the benefit of all.
We will continue to release more details related to this settlement in the coming days so that the Enigma community can better understand next steps

Seems they sold BTC/ETH right on the top, rebought cheaper so got a "free loan" from investors that they can pay back at 0 fees + the 500k on top that doesnt seem much.

Or they play the good face to bad game and they will not pay back.. Thats what markets think as the coin got dumped hard.