BTCC stops accepting deposits

Oldest Chinese cryptocurrency exchange stopped taking deposits in yuan and cryptocurrency
27 September 2017   2921

BTCC stops accepting yuan and cryptocurrency deposits today. This is reported by the Cryptocoinsnews.

A giant of Chinese cryptocurrency industry, the oldest exchange in ex-largest crypto trading market in the world stopped receing deposists 27.09 at 12.00 noon, Beijing time. Exchange is working for 7 years now.

Today's notice from Chinese CMS BTCChina com continues the previous announcement, when BTCC cofirmed it will "stop all trading" on September 30 due to regulations of Chinese financial authorities and China’s central bank.

Additionally, BTCChina reported about the deadline of withdrawals of digital assets and renminbi –  October 30. The administration notes that all withdrawals will be processed within 3 days, regardless of the digital asset reserve.

BTCChina operates on a 100% reserve system, meaning that we safely hold all of our customer funds in accounts and addresses that are separate from company accounts and address. All customers will be able to withdraw all their funds (including CNY, BTC, LTC, and ETH) from our exchanges within 72 hours.

BTCC statement 

The original statement.

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   410

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.