Global Fintech & Blockchain China Summit Halted by Police

The first part of the event was interrupted by the police, and all visitors and organizers were asked to leave the premises
12 April 2018   786

The blockchain conference in Shanghai was interrupted by a police visit. This is reported by CoinDesk.

A one-day event called Global Fintech & Blockchain China Summit 2018 was organized by PTP International and was due on April 12th.

About noon local time, the first part of the event was interrupted by the police, and all visitors and organizers were asked to leave the premises. The second part of the conference was canceled also.

According to the information on the conference website, several program speeches were to be delivered, panel discussions and presentations of financial structures, government and crypto-currency projects were held.

Although the official reasons for the breakdown of the event are not called, there are rumors that investors who lost large sums on the ICO, representatives of which also attended it, complained to the police.

We are still investigating the reasons of the halt. And so far the explanation offered by the police is due to security risk. We are working on a solution regarding how to make up for event attendees. The conference is in compliance with the regulation in China and does not feature any ICO roadshow.

PTP International, Organizers

The organizer claims that this information is not true, and the conference was conducted in compliance with all Chinese laws.

Japan to Tighten Regulation Due to Zaif Hack

$ 62 000 000 worth cryptocurrency was stolen from the Zaif exchange few weeks ago
25 September 2018   70

Hacking of Zaif exchange is the reason for toughening control over the market by the financial regulator of Japan, Reuters reports.

The first measure taken was administrative sanctions against the exchange and its operator Tech Bureau Corp. The Financial Services Agency (FSA) has expanded the list of requirements for the latter, pointing out the need to identify preventive measures and search for the organizers of the theft.

Shortly before that, researchers of the Japanese financial company Tech Bureau Corp could not provide details of the theft of $ 62 million from the Zaif crypto exchange at the request of the FSA. The Osaka-based operator had to investigate the causes, consequences of the theft and options for compensating the victims. According to the Agency, the financial company could not cope with the task.

According to the Tech Bureau, the exchange was hacked on September 14 within a few hours. The problem with the server was discovered by the site staff on 17 September. Official confirmation of the incident and notification of the authorities was made only a day later.

Recall, the theft of $ 60 million from the Japanese stock exchange Zaif caused a surge of volatility of bitcoin. For a short time the price was able to overcome the distance of $ 400.