Chinese BTC exchange allegedly hacked for $3m

Chinese OKCoin's Bitcoin exchange OKEx reported allegedly hacked for $3m
02 October 2017   3062

Chinese OKCoin's Bitcoin exchange OKEx reported allegedly hacked for $3m. It's still unclear whether the information is trustworthy, as the data provided by the official company's Twitter does not match the data from the users and the top crypto magazines. 

Thus, as reported by cointelegraph.com, a user reported that his OKEx account was logged in by a German IP and participated in BTC-ETC trading. The hacker sold all the Bitcoins and canceled all the pending orders within one hour. Such behavior has resulted in a loss of 200 Bitcoins, which worth more than five mln yuan (about 750,000 dollars). A few other users reported similar attacks. As detailed, all victims have lost about six hundred Bitcoins in total, worth over 20 mln yuan (about three mln dollars).

However, OKEx claims that the exchange hasn't been hacked.

Thus, the company argues that the hack has not occurred, yet "several users passwords were stolen". OKEx just gives some recommendations for improving security. 

The situation is still pretty unclear, so we'll keep you updated.

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   174

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.