Mining startup CryptoSolarTech return to the investors collected in the course of ICO funds in the amount of $68 million, reports Cointelegraph.
CryptoSolarTech planned to build a mining farm in the South of Spain. A key feature of the project was to be solar energy used to power the equipment.
However, the project was rejected by local authorities. The startup has pledged to return the funds to investors within 60 days. At the same time, the company stressed that they will not take responsibility for Cryptosolartech tokens (CST), acquired after February 19.
Initial proposal of project coin CryptoSolarTech took place in June 2018. The project has attracted $68 million in less than two months. It is noteworthy that, originally, the startup planned to collect at least 900 thousand euros. The funds received from the ICO investors from Spain and Singapore.
Soon token CST lost a large part of the cost. Only in recent days against the background of negative news the coin is depreciated by 85%.
Recall that recently the Commission on securities and stock exchanges of the USA made ICO-startup Gladius to register tokens and return to investors $12.7 million