“Just read those paragraphs and ask yourself: Does this all sound legit? How confident would you be that Munchee would deliver 199% GAINS at its initial coin offering, or return $94,000 on a $1,000 investment?”

Alas we will never find out. Those paragraphs are from the Securities and Exchange Commission’s order shutting down Munchee, or rather memorializing the fact that Munchee had shut itself down:

On November 1, 2017, Munchee stopped selling MUN tokens hours after being contacted by Commission staff. Munchee had not delivered any tokens to purchasers, and the company promptly returned to purchasers the proceeds that it had received.

This is certainly a new twist on the increasing regulatory oversight of the SEC on ICOs.

Please read the full article here.