ATC Coin decline connected with criminal breach

 ATC Coin turns out to be a financial pyramid
18 October 2017   1298

ATC Coin which currently has a market cap of $5 820 940 dropped 36.39% during past 7 days.

ATC coin dynamics charts
ATC Coin Charts

This notable decrease might be linked to accusations laid last week against Subhashchand Jewria, a founder of cryptocurrency known as ATC Coin. The Mumbai Police's Economic Offence Wing found out that this cryptocurrency project was an investment scheme based on a pyramid structure and coins didn't have any value outside of the ATC Coin platform.

Subhashchand Jewria worked on the project alongside with his brother, Chirag Jewria, and both of them were charged with misappropriating investor funds. The EOW’s investigation detected that Jewria earned $12.9 million USD from investments made through his pyramid scheme disguised as a cryptocoin and transferred that money to all of his 28 personal bank accounts.

It a classic case of fraud committed by floating a multi-level marketing scheme and luring investors with high returns and enviable rewards like sponsoring a foreign vacation or gifting high-end cars and also the claim that after completion of a lock-in period of 18 months, the cryptocurrency could be used for online shopping.
 

The Economic Offences Wing of the Mumbai Police

Jewria and his brother were accused of deceit, criminal breach of trust and criminal conspiracy in accordance with the Indian Penal Code. Law enforcement officers of Mumbai seized all their bank accounts and restored millions of rupees, which they hope to return to investors.

Diffusion 2019 to Gather Crypto Hackers in Berlin

World most interesting tokenised protocol teams joined forces to create one of the biggest devconf in the world
20 September 2019   229

19th-20th October 2019, Berlin, one of the IT capitals of the world, will gather representatives of blockchain, AI, IoT and Big Data industries across the globe. 350 developers are going to test their skills, by hacking with 25m+ lines of open source code. Thousand of prizes awaits the winners.

This two-day event will focus on the practical application of open-source distributed ledger technology, smart contracts, machine learning and programmable tokens, to create a new data layer.
 

Diffusion

Diffusion 2019 Attendants
Diffusion 2019 Attendants

The conference will last for two days and is focused on the practical usage of open-source blockchain technology, machine learning, programmable tokens and smart contracts with a goal to create a new data layer. 

If you are not a skilled programmer, you will find what to do, Join panels, chats, workshops. Discuss the latest topics, such as token economics, blockchain for enterprise, AI, deep learning and more. Whether you are a dev, work in IT or tech industry, geek or just interested all that new - this is a place for you. You will be able to discuss things and share knowledge with lead developers, professors, start-upers and CEOs.

Part of Diffusion 2019 Attendants
Part of Diffusion 2019 Attendants

The event will take place at the Factory Berlin.

Hype.Codes team is happy to report that our journalist is going to the Diffusion 2019 too! Anton will provide you, our dear readers, with the freshest news and announces straight from the Factory.

Also, check out the latest conference's partnership with ETHBerlin.

And now the most interesting thing. You will be able to to take part in a hackathon for free!

Apply for free place at Hackaton now!

Not a coder, but still want to attend an event? 

Get your ticket here!