Cryptopia to delist FazzCoin and PosWallet

Cryptopia exchange is delisting PosWallet and FazzCoin on April 29 due to swap to new coins
15 April 2018   1105

PosWallet is transitioning from POSW to a new XSN coin to implement new features like TPoS and Masternode while FazzCoin are moving to ERC-20 token because at the moment there are no miners on their network. Due to these changes, Cryptopia exchange is delisting both coins effective on April 29. As before, in case of PosWallet users are strongly advised to withdraw their funds before April 29 in order to ensure the safety and accessibility of the funds after the removal. The POSW network will stop being supported on May 1 and no issues are expected to happen.

As for FazzCoin, things are looking grim: because the network is not being mined, FAZZ lost its functionality. That means the chances of being able to withdraw the funds to users' personal wallets is quite low. The developers team was contacted and informed of the delisting. Unfortunately, Cryptopia was now informed of the swap, so users are advised to monitor any possible news source about the status of FAZZ coin. That way users will not miss out on the swap if it goes ahead. All complaints regarding the issues with withdrawal should be directed towards the coin developers team.

At the moment of publication, PosWallet market parameters are as follows

  • Average price: $0.360340
  • Market cap: $15,890,994
  • Volume (24H): $9,406

As for FazzCoin, its market indicators are as follows:

  • Average price: $0.005357
  • Volume (24H): $16

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   197

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.