Korean Authorities to Check 3 Exchanges

Staff of these exchanges is suspected in embezzing funds from customers' accounts
15 March 2018   606

Law enforcement authorities in South Korea are checking three cryptoexchanges, suspecting that their employees may be involved in embezzlement of clients' funds. This is reported by CoinDesk.

Employees of the exchanges, including management, are suspected of using funds from their clients' accounts to purchase crypto-currency on other exchanges.

In the search for evidence, the Seoul County Prosecutor's Office confiscated hard drives, mobile phones and documents.

The firms turned up on our radar in January during our investigation of suspicious money transfers between Bitcoin exchanges that were detected during an audit by the Financial Services Commission and the Korea Financial Intelligence Unit.
 

S. Korean Prosecutor

Recently in South Korea, the requirements for the crypto exchanges were tightened, as part of the government's policy to combat money laundering and other questionable practices.

Casa to Launch Lightning Node Mobile App Called Sats

Casa to Launch Sats App With Lightning Network Support
04 July 2019   1012

Casa startup, specializing in the creation of secure storage systems for private keys, introduced a mobile bitcoin application Sats App, which makes it easy to manage Lightning-node.

Sats App is positioned as a non-custodial bitcoin wallet "with unique functions." According to Casa CEO Jeremy Welch, the SatsBack reward program will soon be launched, under which users will receive small amounts in BTC. For example, for connecting an application and a Casa Node device to each other, the user will receive 20,000 Satoshi.

Features are focused on increasing adoption of bitcoin and lightning nodes. You will be able to earn bitcoin if you don’t have a Casa node, but you will be able to earn bitcoin faster if you have a node.
 

Jeremy Welch 

CEO, Casa

He also added that the application, available for iOS and Android, is “secure, private and connects via Tor”.

According to CoinDesk, the startup earlier raised $ 3.5 million from Castle Island Ventures, Boost VC and Compound, and several other investors. Currently, a startup staff of 25 people serves users from 60 countries.