Crypto Esports Startup Unikrn to Pay $6.1M in SEC Settlement Over 2017 ICO
According to a press release Tuesday, the SEC alleged that between June and October 2017, Unikrn Inc. raised approximately $31 million through the UnikoinGold (UKG) token sale in violation of registration requirements. “This resolution allows us to return substantially all of Unikrn’s assets to already-harmed investors and includes measures to prevent future sales to retail investors,” Kristina Littman, chief of the SEC Enforcement Division’s Cyber Unit, said in a statement.
In a statement shared with CoinDesk, Unikrn CEO Rahul Sood said his firm “spent months working with the SEC to come to a solution that was about moving the business forward,” adding:
“The common ground we found requires Unikrn to completely stop supporting UKG and help provide a fund for purchasers of UnikoinGold. Unikrn’s statement in response to the SEC’s charges added the firm will continue to offer its services supported by major currencies, including fiat currencies, bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and USDC, among others.
