The ICOBox platform received a court decision in absentia, after failing to defend its side against the accusations of the US Securities and Exchange Commission (SEC).
ICOBox Investigated for Aggressive Token Promotion
ICOBox was sentenced to repaying $16M for acting as an unregistered broker. The startup reportedly organized multiple token sales which were deemed to represent unregistered securities. The US Securities and Exchange Commission started the action against ICOBox in September 2019, as part of its series of court cases and fines against prominent ICO projects.
Reportedly, ICOBox not only sold its own ICOS token, but also helped raise up to $650 million for more than 30 clients. The ICOS sale alone raised more than $14.5 million, running between August 15 and September 15, 2017.
The ICOBox project was highly active in the…
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