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   190042

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.

Gladius to Register Token as Security & Refund Investors

Startup self-reported in SEC on unregisted securities offering and cooperate with Commission, so it won't be fined
21 February 2019   96

Cryptocurrency startup Gladius Network LLC has informed the US Securities and Exchange Commission (SEC) about the sale of unregistered securities. On February 20, the SEC filed relevant charges.

During the ICO, the Gladius project raised $ 12.7 million in cryptocurrency equivalent for the development of a network for leasing computing facilities to protect against cyber attacks. The SEC stressed that the startup did not register their tokens as securities, as required by federal law, and did not agree to exclude them from the rules in the legal manner.

Moreover, tokensale was held after the publication of the SEC report on the situation with The DAO, in which the regulator stated that ICO can offer securities.

The press release says that Gladius contacted the SEC in the summer of 2018 and expressed interest in cooperating with the investigation. Thus, the agency refused to levy a fine, because the startup voluntarily agreed to return the funds to investors who require it and register the token in accordance with the provisions of the Securities Act of 1934.