Gladius Network Cybersecurity Startup Dissolves Despite Owing Nearly $13 Million to ICO Investors


According to a new release, in February 2019, the Securities and Exchange Commission charged Gladius Network LLC with conducting an initial coin offering that was unregistered. The company self-reported the offering to the SEC.

The company had raised $12.7 million in digital assets, and under the SEC’s order, Gladius was to return the funds to investors who had purchased tokens in the ICO and request a return of funds.

It does not appear that Gladius will be reimbursing investors anytime soon, though. A Cointelegraph report indicates that the company presented a message, signed by the Gladius team, that reads:

“We regret to inform you that Gladius Network LLC has ceased operations effective immediately and has filed for dissolution. Despite our best efforts, the company no longer has funds to continue operations.”

If the company does not have funds to operate, it is unlikely that it has the funds to reimburse investors. That is, unless, it no longer has funds to operate because it intends to reimburse investors. At this point, though, it is not clear.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide