IOStoken Team to Send 7.35B IOST to Escrow

By locking 35% of the total tokens supply, team wants to "show our dedication to the longterm growth of IOST"
09 April 2018   525

The developers of the "safe and scalable blockchain for smart services" IOS announced that they block all the volume of tokens in the Internet of Services Foundation - 7.35 billion IOST or 35% of the total offer.

IOStoken
IOStoken

From the first day we launched our ambitious project, we have been listening to our community carefully. During the process, we have heard concerns about our ongoing token distribution and fears about the possibility of the IOS Foundation selling IOST on a secondary market for short-term profit. We would like to reassure our community that we will never do this, our internal control procedures would under no circumstance allow this to happen, and to take this action would be extremely harmful for us.
 

IOS Foundation

The funds were transferred to a separate wallet, available for public view. At the time of publication, the amount on it is estimated at more than $ 230 million. As developers assure, tokens will be unlocke with launch of mainnet. According to information in social networks, this will happen before the end of 2018. In the project roadmap, the second quarter of 2019 is indicated as the start-up period for the client and the IOS purse.

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.