Crypto scammers were caught In South Korean

Seven South Korean people have been arrested for running a large-scale $38 million scam
22 November 2017   1183

They offered to investors a regular profit at the rate of 180 percent if they have invested with bitcoin. The total number of victims is about 3900. All of them are aged 40-60 years. These criminals have created “bitcoin investment firm” in Gangnam, Seoul back in January last year. Taking advantage of the ignorance of their investors, they were able to steal money of $ 38 million.

These seven criminals were arrested by Jeonbuk Iksan police department and cybersecurity. They are accused in a lot of charges: money laundering and operating an “investment firm” without proper licensing from the South Korean financial authorities. Police first approached them when some investors called that the group obtained $4.1 million of the funds illegally instead of investing in bitcoin. After investigation the group was eventually arrested and the ponzi scheme was close up.

The group approves that they weren’t going to do this ponzi scheme. At first time they would like to make the real cripto-project and they would like to help their investors to master this market. But then they decided to abuse its clientbase by alluring investors into a scam.

Bakkt to Unveil Bitcoin Futures Test Date

Along with date announcement, COO Bakkt believes the platform will attract institutional investors and set new standards for the cryptocurrency market
14 June 2019   237

The Bakkt cryptocurrency platform has named the exact start date for testing Bitcoin futures. The first users will be allowed to test the tool on July 22.

According to Bakkt's Operations Director, Adam White, the platform will attract institutional investors and set new standards for the cryptocurrency market.

White pointed out that the wider distribution of cryptocurrencies, in particular, is hampered by unreliable pricing mechanisms and the likelihood of instantly falling rates.

Along with these problem-solving solutions that are new to digital asset markets, Bakkt also brings all the other features that institutions would expect in a versatile and broadly accessible market, including: block trades; a fee holiday through the end of the year to encourage trading; market maker incentive programs to encourage liquid markets; and integrations with ISVs and regulated brokerage platforms.

Adam White

COO, Bakkt

At Bakkt, two futures contracts will be presented - with daily and monthly settlements. Risk management and the securing mechanism for these contracts will meet the standards of the traditional derivatives market.