Chinese to Participate in Binance Launchpad Despite Ban

As reported, some "entrepreneurs" provide Chinese investors with “KYC-services” and even software, which, according to them, increases the speed of purchase.
27 February 2019   873

Fetch.AI tokensale, which took place on Monday, was attended by 2,758 investors from approximately 20,000 who wished. Many of them, despite the rules of the platform Binance Launchpad, were residents of China. This is reported by 8btc.

According to their information, some entrepreneurs provided Chinese investors with “KYC-services” and even software, which, according to them, increases the speed of purchase.

500 yuan ($75) for a valid KYC identity, which allows you to participate in all the following public sale projects on Binance.
 

One of the proposals on the web

After sending the documents received in this way, the investor needs to use the CrazyTalk application to change the face and synchronize lip movements during the verification phase.

Although this procedure carries a lot of risks, and the seller of the documents may try to contact the exchange support service to withdraw funds from an account that does not belong to him, offer is popular in China.

Before the start of the Fetch.AI crowdsale, a video was posted on Twitter, presumably showing a Chinese Internet cafe filled with people hired to buy FET tokens.

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.