Bittrex to Cancel RAID Crowdsale

The official reason was cancelation of the strategic partnership between the RAID project and the OP.GG company
15 March 2019   757

Bittrex International Cryptocurrency Exchange announced the cancellation of the first IEO on its platform. The official reason was cancelation of the strategic partnership between the RAID project and the OP.GG company. Representatives of the trading platform felt that in such a situation holding a tokensale contradicts the interests of investors.

Another reason for Bittrex decision could be an investigation published on Coinspeaker.

So, it turned out that the Singapore company issuer ONERAID PTE. LTD is not in the official register of legal entities from the Singapore company regulatory authority (ACRA). At the same time, several company names contain the word “Raid”: one sells alcohol, the other sells clothing and accessories. A few more are registered before 2010 and seem inactive.

It is noteworthy that any information about the company is missing in Google. Also no LinkedIn and Facebook accounts of founders were found. The founder of OP.GG Cheonwoo Park, whose company, according to Forbes, attracted 32 million active users in 30 countries, could not be found in social networks.

OP.GG has stopped all potential business discussions related to RAID project and there will be no economic and technical cooperation with RAID coin.
In addition, OP.GG has no intention of developing any blockchain related business utilizing RIOT GAMES data.
OP.GG will take all possible legal measures against individuals or organizations disseminating false facts related to this.
Thank you.
 

OP.GG Website

At the same time, the project’s Twitter itself says that it has nothing to do with RIOT GAMES.

At the same time, all the names of the co-founders are South Korean. The fact that the non-existent Singapore company most likely did not hire a single Singaporean also seems strange.

In light of the opening facts, the decision to change the XRD ticker to RAID also looks suspicious. It was probably taken in a hurry, since the RaidOfficial Twitter account has already existed since May 2010.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   271

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.