Blockchain Institute launched by Huobi China in Hainan

Huobi labs and the Tianya community stated a partnership i order to build a "Global Cultural and Creative Blockchain Lab" in Hainan
16 May 2018   346

The information about Huobi to complete the creation of Hainan’s headquarters in 2018 and initiates a billion-dollar global blockchain industry fund has been confirmed by the Huobi official.

This time Huobi set Hainan in a cooperative way and had in-depth collaboration with the old Tianya community. Huobi hopes on the influence of the Tianya community in Hainan to develop the Huobi business there.

Also, Huobi aims to complete its 5 constructive plans correspondingly with the mission of the Hainan Special Administrative Region:
1. The Chinese headquarters of the Huobi will be replaced to Hainan and placed in Hainan Ecological Software Park.
2. Organize a $1 billion fund for the global blockchain industry.
3. Establish a global top blockchain research institute together with the world's top universities.
4. Cooperate with the world's major industry firms to found 10 global blockchains + laboratories.
5. Construct a 40,000 square meter blockchain incubator.

Hainan is as well going to arrange and develop the first non-profit cutting-edge research institute concentrated on blockchain technology. After being established, the institute will have a global blockchain innovation fund, a blockchain laboratory, and a blockchain innovation talent-preparing center, an incubation park and industry summit forum.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   109

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.