The post CyberKongz Escapes Charges as SEC Wraps NFT Gaming Probe appeared on BitcoinEthereumNews.com.

SEC concludes 27-month probe into CyberKongz, enabling rebrand.  CyberKongz plans an innovation focus post-investigation closure. The SEC has ended its investigation into CyberKongz, a large NFT gambling site. CyberKongz and its developer were cleared after a 27-month investigation, which concluded in April 2025.CyberKongz’s X post reassured team members by confirming project cancellation. CyberKongz came under scrutiny for using ERC-20 tokens in blockchain gaming. Regulatory action on the project was noted in December 2024 under Wells notice. CyberKongz disputed the assertions by training authorities on technical details of smart contracts. CyberKongz Plans Rebrand and Future Growth Members of CyberKongz experienced immense relief when the SEC revealed their decision. The project’s founder, known as myoo_ck on X, detailed the emotional and financial toll of the investigation. The team displayed exceptional resilience, according to myoo_ck in his post, which allows them to focus on innovative tasks. The project will introduce a rebranding initiative that will involve strategic transformations. The CyberKongz team intends to restore its core values by prioritizing artistic development together with community development. The organization plans to share information about its rebrand, which includes honoring previous achievements during the upcoming months. CyberKongz has built significant milestones within the NFT sector. An NFT collection of profile pictures from the project secured the biggest floor price that the market had ever seen. The project became the first to connect tokens with NFTs while establishing open deep web3-connected 3D avatar models. ERC721x smart contracts represent a new security-enhanced project development milestone. The team’s game reached 8 million transactions during its release, surpassing MangaPlus by Shueisha with its custom Manga creation. The industry experienced a wide-reaching influence of CyberKongz because of its recent developments. Web3 sector operations gained better clarity because of the SEC’s recent decision. All blockchain gaming and NFT projects will receive advantages…

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Filed under: News - @ April 17, 2025 2:27 am