ICON to swap ICX token

As ICON operates its own mainnet now, ICX token is going to be moved from the Ethereum blockchain to the mainnet on June 20
20 June 2018   1063

ICON is ready to migrate its ERC20 token to the mainnet. The swap is officially supported on Binance, Upbit and Bithumb. The automatic migration will take place on June 20. The swap rate is set at 1:1. The ERC20 ICX tokens should be deposited by the swap date. ICONEx wallet will perform the migration separately from June 25 till September 25.

The exchanges are going to take care of the procedure on their own completely. As for ICONEx wallet, the project posted a guide here. All ICX deposits and withdrawals from the exchanges will be suspended until the token swap process of the exchanges are finished. The conversion once made is irreversible.

ICON is one of the largest blockchain networks in the world. ICON boasts independent blockchains comprised of reputable institutions in major industries. ICON market parameters at the moment of publication are as follows:

Average price 2.02 USD
Market cap 783,231,197 USD
Volume (24H) 43,919,900 USD

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   276

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.