The Gladius project, one of the relatively large ICOs during the token sale boom, has folded its operations. The project, financed by an ICO, declined to reimburse its investors for the $12.7 million raised during the token sale.
Gladius Network disclosed its ICO details to the US Securities and Exchange Commission in February, and subsequently the token sale was deemed a placement of unregistered securities. Gladius Network was charged along with two other projects, Airfox, and Paragon Coin, Inc., which together raised as much as $40 million.
“We regret to inform you that Gladius Network LLC has ceased operations effective immediately and has filed for dissolution. Despite our best efforts, t...