BitClave
Summary
BitClave PTE Ltd. was a Singapore-incorporated, San Jose-based blockchain startup that raised approximately $25.5 million in 32 seconds through the sale of Consumer Activity Tokens (CAT) during its November 2017 ICO. In May 2020, the U.S. Securities and Exchange Commission charged BitClave with conducting an unregistered securities offering, resulting in a settlement requiring disgorgement of $25.5 million, prejudgment interest of $3.44 million, and a $400,000 civil penalty. The promised BitClave Active Search Ecosystem platform was never delivered, the company ceased operations, and as of 2026 only a fraction of the settlement obligation had been distributed to investors through a SEC-administered Fair Fund.
Connected Entities
1 entities · 10 linked investigations- + 1 more
Timeline(11 events)
2017-07-15
BitClave PTE Ltd. incorporated in Singapore (registration number 201719788E).
SGP Business Singapore company registry2017-07-25
Consumer Activity Token (CAT) pre-sale begins; approximately $22 million raised in private and public pre-sale phases.
Coinspeaker / CoinDesk2017-11-29
Official main-sale ICO launches; $25.5 million hard cap reached in approximately 32 seconds. Approximately 9,500 investors participated including U.S. persons.
Baker McKenzie Blockchain Blog / SEC Order2020-05-28
SEC institutes and simultaneously settles administrative cease-and-desist proceedings against BitClave PTE Ltd. (File No. 3-19816) for conducting an unregistered $25.5 million ICO in violation of Sections 5(a) and 5(c) of the Securities Act of 1933. Settlement: $25.5M disgorgement + $3.44M prejudgment interest + $400K civil penalty = ~$29.3M total obligation.
SEC Press Release 2020-1242021-04-22
SEC appoints Kurtzman Carson Consultants LLC (KCC) as Fund Administrator for the BitClave Fair Fund.
117 Partners — SEC BitClave Fair Fund article2022-12-01
Proposed distribution plan for the BitClave Fair Fund published for public comment.
117 Partners — SEC BitClave Fair Fund article2023-02-09
SEC approves final distribution plan. Eligible period: July 25, 2017 through May 27, 2020. By this date, BitClave had transferred only approximately $12 million of its ~$29.3 million obligation, leaving over $17 million uncollected.
117 Partners / CryptoSlate2023-08-08
Claims deadline for the BitClave Fair Fund investor compensation process.
117 Partners — SEC BitClave Fair Fund article2024-11-19
SEC authorizes first Fair Fund disbursement of $4,614,679.81 to eligible investors.
CoinDesk / SEC2025-09-23
SEC authorizes second Fair Fund disbursement of $2,500,422.70 to eligible investors.
Grit Daily2026-04-21
SEC authorizes third and final Fair Fund disbursement of $11,969.62 to two investors not previously identified. Total distributed across all rounds: approximately $7.1 million, against a $29.3 million settlement obligation.
SEC — In the Matter of BitClave PTE Ltd. (2025 motion)Decision Log
- hash: 8DRzNoYre4wtFtkicxw1MaofLYNrd5qam15PSDo9rdfh
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-code-investigator
generated: 5/31/2026, 6:06:26 PM
last updated: 5/31/2026, 6:06:31 PM
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