Japanese Lost $6M Due to Crypto Hacks in 2017

At least 149 cases of hacking emerged last year; 16 exchanges affected
22 March 2018   611

About $ 6.2 million in the cryptocurrency were stolen from Japanese exchanges and other services last year. This is reported by the Nikkei.

According to him, the National Police Agency published its first annual report on the topic of the Crypto-Currency on Thursday.

The report refers to 149 registered thefts. Users of 16 exchanges and 3 wallets suffered from thefts, lost about 662 million yen. The main goal of intruders was bitcoin. In total, 85 bitcoins were stolen during this period.

The agency does not specify the names of the affected exchanges and services, but notes that during the calculations it did not take into account the theft of 500 million NEMs from the Coincheck this year.

In 122 cases, which account for 80% of the lost funds, additional security measures were not used, such as two-factor authentication, the report says.

The increase in the activity of malefactors coincided with the rise of bitcoin and other crypto-currencies. So, in April, 7 thefts were registered, in May - 19, and in June - 41.

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   236

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.