Home Blockchain News 37,000 Investors Await Refunds from ‘Illegal’ $90 Million Envion ICO

37,000 Investors Await Refunds from ‘Illegal’ $90 Million Envion ICO

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By CCN.com: The Envion scandal was one of the most dramatic sagas to unfold in the cryptocurrency space, and it’s not over yet. Swiss regulators have ruled that the crypto mining firm behind the $90 million ICO in 2018 participated in illegal activity. Specifically, Envion AG unlawfully received public deposits from 37,000 investors according to the FINMA regulatory authority. Based in Zug, the company is now being liquidated, hopefully, to compensate investors. Delusions of Grandeur The project started out with great potential. To most onlookers, it seemed like a genuinely promising opportunity in a space rife with half-baked ideas. A high-functioning

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* First published on ccn.com

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