When we first reported on the rise of Chainwire, FinanceWire, and MediaFuse, questions already surfaced about their founder Nadav Dakner and his involvement in previous projects. Since then, multiple readers have reached out to us with additional insights into his history; especially the case of Gladius Network, one of the earliest ICOs targeted by the U.S. Securities and Exchange Commission (SEC).
This story reveals not just the troubling role of insiders like Dakner, but also how regulatory loopholes allowed a project to vanish; leaving investors stranded; despite an official SEC enforcement action.
The Gladius ICO and SEC Action
Image Source: SEC FilingIn late 2017, Gladius Network LLC raised around $12.7 million in ETH through an Initial Coin Offering (ICO). The project promised a decentralized content delivery and DDoS protection network. One of the key figures surrounding the project was
English (US)