The SEC has confirmed the distribution of over $4.6 million to investors affected by the unregistered ICO of the blockchain startup BitClave.

- The amount will be paid from the BitClave Fair Fund following the notification and claims process.

- BitClave, which once aimed to revolutionize the digital advertising industry with a decentralized search engine, raised over $25 million from its 2017 ICO.

- However, the SEC sued BitClave in 2020 for violating federal securities laws, leading to a $29 million refund agreement for investors.

- Currently, the SEC has approved the transfer of $4.6 million from the Fair Fund for distribution according to the approved plan. 🔄