The Bank of Lithuania Probes 100 Million Euro ICO

Last week Lithuania's central bank informed that it is probing a domestic ICO after determining that the token offered counts as a security  
19 February 2018   310

According to the statement, The Bank of Lithuania contacted with blockchain banking firm Bankera regarding its token sale. The sale was advertised on two websites and raised over 80 million euros. Currently, ICO's official website claims that it has raised more than 100 million euros.

The bank considers that the token sale constitutes an offering of securities under state law.

In addition, the ICO distributes its authorized cryptocurrency and has already attracted more than 80 million euros. Taking into account the features set out in the heading and based on the information provided by Bankera's business plan, it is concluded that this ICO falls within the scope of the Law on Securities, i.e. is considered a public offer, and therefore must be executed in accordance with the established requirements.

The Bank of Lithuania

According to the central bank, The Bank of Lithuania draws the attention of other media to the requirements of legal acts and recalls that the Law on Advertising prohibits the advertising of activities that violate the requirements of legal acts.

This action comes after Lithuania’s  released guidance for the blockchain. Last week, Switzerland's financial regulator, the Financial Market Supervisory Authority, released new guidelines last week, indicating it will also treat some ICO tokens as securities.

Atlanta's computer network infected with Bitcoin ransomware

Hackers breached the governmental computer network in Atlanta to infect with ransomware and demand payment in Bitcoin
23 March 2018   124

Cryptocurrency ransomware of different flavors has been around practically as long as cryptocurrencies themselves. And now the city of Atlanta, US has come under the attack.

The governmental computer system has been infected by the ransomware virus early in Thursday, and this has caused a massive disruption in several departments. In particular the bill payments and court information services has been affected. Later in the morning several city employees found a ransom letter on their computers with demands for $51,000 in Bitcoin.

In the afternoon of the same day officials held a press-conference, but were unable to provide any particular information about the attack since the investigation was just commenced and in the early stages. The question whether or not they were going to pay the ransom were also left unanswered.

Atlanta is one the major economics hubs in the Southern US with several large international companies and the world's busiest airport located in the city. Apparently, the city officials have no qualms about going for all the available help in such a high-resonance case, hence the US Department of Homeland Security, the FBI and even the Secret Service authorities are now on the ground.

Of course, there is little chance of systems being unlocked even if the ransom is paid, the security experts say. So, the city is probably in for a long road to full recovery of its computer facilities. The officials have even started making plans in preparation for long and tedious recovery process.