Australia based Gtrade.io was in the middle of raising $50 million for their ICO public sale, and even received celebrity a celebrity endorsement from Michael Clarke, a former cricket star.The Australian equivalent of the SEC is known as "ASIC", Australian Securities and Investments Commission - and while the specifics of the case haven't been made public, today the company announced they have been ordered to cease operations.Their website has been completely dismantled, with the exception of the following message:So far, Australian regulators have been fairly reasonable - of the 5 ICO's they shut down, 4 of them were allowed to start back up after implementing changes that ASIC requested. Which leads us to believe whatever GTrade's violations were, they were severe enough to warrant an entire closer - with no second chances.