Coinsecure Delays Disbursement of Funds

The date of funds reimbursement is not specified by the exchange and it still remains unclear when the users will get their money back
01 May 2018   1498

We have reported that the CEO of the Indian cryptoexchange Coinsecure accused the head of the security department of his company of stealing 438 bitcoins or about $ 3.5 million. Later Coinsecure stated that it was ready to compensate users' losses with rupees.

The company initially planned to start the disbursement of funds by the end of last week, but on April 29 Coinsecure published an announcement stating that the disbursement was being delayed.

When investigations are underway, we don’t have much of a say and do need permissions from the authorities to start the compensation process, which we are yet to receive. We will update you when we have definite dates around the start of the process.
 

Coinsecure Team 

Moreover, Coinsecure claimed that there will be new contracts rolled out to all users who held a balance on Coinsecure (BTC and INR). The date of funds reimbursement was not specified by the exchange, and Coinsecure team promised to publish all the latest news regarding the issue.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   311

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.