The SEC has reimbursed $4.6 million to investors of BitClave's ICO following a settlement reached in 2020. BitClave reached a settlement of $29 million with the SEC over a fundraising event held in 2017. This ICO initially raised $25.5 million in just 32 seconds, indicating high investor interest.
As part of the settlement agreement, BitClave committed to destroying uncirculated tokens and pursuing delistings from exchanges. Though $12 million had been paid into the Fair Fund by February 2023, a funds discrepancy of $7.4 million remains unresolved at present.
