KODAKCoin to Accuse LBank of Fraud

As KODAKCoin says, LBank, a cryptocurrency exchange, based in Hong Kong, created a fake page of KODAKCoin ICO at its website
04 May 2018   190836

The representative of WENN Digital, the organizer of the ICO of KODAKCoin, accused the Hong Kong exchange LBank in "fraudulent behavior." The reason was the announcement of LBank about the conduct of the corresponding ICO on its site. This is reported by Coindesk.

As stated in the section of token-sale on the LBank page, ICO KODAKCoin allegedly starts on Friday, May 4, at 12:00 UTC and ends at the same time on May 11.

Fake KODAKCoin ICO Page
Fake KODAKCoin ICO Page

However, WENN Digital stated that this information does not correspond to reality.

It has come to our attention that more than one fraudulent websites have been promoting the sale of KODAKCoin. This information is neither authentic nor accurate. All factual information regarding the availability of an ICO to accredited investors will come directly from KODAKCoin and its authorized representatives. To clarify, WENN Digital is only offering the SAFTs and the underlying KODAKCoin in exempt transactions to 'accredited investors. Offers and sales of the SAFTs and the underlying KODAKCoin outside the United States will also be made in accordance with the laws and regulations of the relevant jurisdictions.

KODAKCoin Team

KODAKCoin ICO was planned for the end of January, but later it was postponed "for several weeks".

Previously, WENN Digital, the "crypto-currency" partner of KODAK, announced that the token will be held in the SAFT format ("Simple agreements for future tokens"), and only "accredited investors" will be able to participate in it. In addition, the coin is positioned as a utility token.

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   346

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.