FINMA announced the enforcement proceedings via a press release that was issued today; see below.
The enforcement proceedings follow a flurry of bad press and inactivity for the high grossing ICO.
During recent months, various founders and executives within the firm have been frantically accusing each other of wrongdoing in what is becoming a farce of a token launch.
Indeed, the New York Times reported in May that the firm's chief executive, Matthias Woestmann, had claimed that the founders generated extra EVN tokens as part of a money grab.
The founders, on the other hand, claimed that Woestmann had seized control of the firm and breached his contract.
The website is still live and seems to be letting investors continue to buy ‘EVN’, the platform’s native currency.
About Envion AG
DISRUPTING ENERGY AND BLOCKCHAIN INDUSTRIES
Introducing the Future of Smart Decentralized Blockchain Infrastructure
Highly profitable, global crypto-mining-infrastructure – Hosted in mobile, modular CSC containers – Decentralized placement directly at energy source.
If you are interested in working with us, please have a look at our opportunities:
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- Website: http://www.envion.org
- Headquarters: Baar, Zug
- Year founded: 2017
- Company type: Public Company
- Company size: 11-50 employees
What Envion says
Envion has developed a system of Mobile Mining Units (MMUs) that can tap electricity directly at the source: at hydro, solar, wind and fossil power plants in every corner of the planet.
Envion’s MMUs are based on standard intermodal (sea) containers, equipped with mining hardware, communication and industry 4.0 automation features, remote control capabilities and a break-through cooling system that only makes up ~1% of the system‘s total energy consumption.
Altogether it’s a high-tech solution that can be seamlessly deployed globally and allows us to use the cleanest and cheapest energy mix wherever it is available.