The SEC charged two individuals with selling more than $30 million in unregistered securities in what they described as a defi project that bought “real world” assets like car loans to generate income for investments they promised investors would generate more than 6% interest. Although the company was not able to operate as they’d promised, due to crypto’s price volatility, the company lied to investors that all was hunky-dory.The respondents agreed to a $12.8 million forfeiture of ill-gotten profits, plus a combined $250,000 penalty. The case marked a first from the SEC in the decentralized finance space.