The California-based startup now owes $16 million after it refused to response to a lawsuit by the SEC.
The SEC has charged Opporty blockchain marketplace for conducting a fraudulent ICO in which they raised over $600,000 from around 200 investors selling OPP tokens.
ICOBox is alleged to have sold $14M worth of tokens in an ICO which the SEC claims was unregistered. The regulator is seeking $16M+ in disgorgement and fines.
ICOBox appears to have been nothing more than an empty box and the company is now being sued by the U.S. Securities and Exchange Commission.