SEC Orders Enigma to Return $45M to ICO Investors
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20 February
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The US Securities and Exchange Commission (SEC) has ordered the Enigma project to return to investors the $45M they invested in the project ICO.

According to the regulator, the organizers of Enigma's ICO have agreed to return the funds to the "affected investors". In addition, the company must also register its token as a security and pay a $500,000 fine.

The SEC has said the ENG tokens Enigma sold during its ICO in 2017 were unregistered securities. John Dugan, the SEC's Associate Director for Enforcement, has said:

"All investors are entitled to receive certain information from issuers in connection with a securities offering, whether it involves more traditional assets or novel ones. The remedies in today’s order provide ICO investors with an opportunity to obtain compensation and provide investors with the information to which they are entitled as they make investment decisions."

Enigma launched its main network based on PoS Cosmos SDK/Tendermin on February 13.

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