Dash Core Group to Lay Off 8% Staff Including Execs

Remaining employees of the Dash Core Group voluntarily refused wages and bonuses to support the existence of the organization
06 March 2019   232

The software developer of the privacy-oriented cryptocurrency network Dash, the Dash Core Group, was forced to make some difficult financial decisions. So, on March 7, the company fire 8% of the stuff, including the strategic director and director of business development. This is reported by The Block.

Note that the remaining employees of the Dash Core Group voluntarily refused wages and bonuses to support the existence of the organization.

According to CEO Ryan Taylor, cuts will affect only certain parts of the company in order to avoid complete collapse.

The organization’s leadership claims that more than six months ago, a moratorium was imposed on hiring new people, and the spending policy remains conservative.

It is worth adding that Dash is a fork of Litecoin, which appeared in 2014. The company did not conduct an ICO, and the only source of income is 10% of the mining, divided between the miners and masternodes. Thus, the bear market has quite significantly affected the stability of the organization.

Recall that in November 2018, the Dash Text service was launched in Venezuela, which allows you to send transactions via mobile phones using text messages. Then the event had a positive effect on the asset quotes.

Dealers to Sell Drugs For Crypto in Korea

Nine criminals arrested; they were accepting DarkCoin (Dash) cryptocurrency
25 December 2018   378

The authorities of South Korea detained nine people accused of distributing drugs for cryptocurrency, Finance Magnates reports.

As prosecutors of central district of Seoul announced on Sunday, the alleged criminals were involved in the distribution of drugs in Darkweb, and even created a separate website for this. Over time, he began to attract more and more visitors. Between March and November, there were 636 people in their community. To date, the site has been closed. It is noted that this is the first such operation of the South Korean authorities in the darkweb.

The detainees are also accused of growing marijuana and selling homemade hashish. In addition, they ordered other psychoactive substances abroad and distributed them to local residents. The owner and developer of the site among other things charged with the use of marijuana.

For financial transactions, dealers used the DarkCoin cryptocurrency (note - obviously, they mean Dash, which received its current name in 2015). Now, the authorities intend to keep 100 million won ($ 88,700), received from the practice of illegal activities.

Earlier this year, British police confiscated at least 300 bitcoins worth about $ 1.7 million owned by drug dealers and money launderers who used cryptocurrency to conceal their activities. In the US, the problem is even more ambitious - in June, 35 people were detained, from whom a total of $ 20 million was withdrawn in cryptocurrencies.