Gumi to Launch $30M Blockchain Investment Fund

New fund will specialize in cryptocurrencies and blockchain-projects investments
31 May 2018   446

Specializing in mobile games development, the Japanese company Gumi has created an investment fund with assets of $ 30 million, CoinJournal reports.

A new fund called Gumi Cryptos. It will specialize in cryptocurrencies and blockchain-projects investments. The organization will be headed by the CEO and founder of Gumi Chirono Kunimitsu and creator of the Evercoin, Miko Matsumura.

Having advised top global cryptocurrency startups alongside some of the best investors in the world, I’ve come to realize that all of them struggle to break into Japan, the largest cryptocurrency market in the world. I’m excited to join gumi and their well-respected network in Japan.

Miko Matsumura

Founder, Evercoin

Previously, the company invested in the "stable coin" called Basis, as well as in the blockchain start-up Robot Cache, creating a decentralized alternative to the Steam platform.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.