Gladius project does not return funds to investors contrary to SEC regulations
Gladius cryptographic startup focused on providing decentralized cyber security and raised $ 12.7 for ICOs in 2017 with a refund to investors, despite the fact that the U.S. Securities and Exchange Commission (SEC) issued the relevant instructions in February 2019. Unlike many others, Gladius was not fined because, according to the SEC, “the company independently reported the violation, agreed to pay compensation to investors, and promised to register its tokens as securities.”
On November 22, 2019, Gladius announced that the company no longer has money to continue its activities, but the platform itself will be available for the next three months. Investors are outraged and blame the SEC for default. They even created a special chat on Telegram called Gladius Rektiers , which at the time of writing, consists of 177 participants.
Gladius is one of the few companies that has not paid investments to investors after the relevant decision of the SEC.