The U.S. SEC will return over $4.6 million to BitClave ICO victims

according to the official announcement, the SEC will distribute over $4.6 million to investors harmed by BitClave (PTE Ltd.'s unregistered digital asset securities ICO). After the notification and claims process, investors will now receive their respective shares from BitClave, and checks have started to be sent out.

This payment is part of the settlement that BitClave agreed to pay in 2020, after the SEC charged the search engine with failing to register its 2017 ICO as a securities offering. In 2020, BitClave agreed to compensate approximately 9,500 investors who purchased its $25.5 million ICO three years prior. BitClave did not admit to any wrongdoing but committed to returning the $25.5 million raised from the ICO and paying an additional $4 million in penalties.