Multisignature wallet for IOTA released

Bitfinex releases Smidgen - a multisignature wallet for IOTA
19 September 2017   3209

Bitfinex has announced the release of Smidgen - a multisignature wallet for IOTA cryptocurrency. 

According to the company, multisignature wallets add an extra layer of security. By using Multisignature wallets, it is possible to create addresses which require multiple seeds for each transaction, each seed owned by one or multiple persons.

Right now, Smidgen is in its final beta stage. Smidgen is beta software and supports many other handy commands, ranging from address generation to balance checking.

Bitfinex team also draws attention to the fact that seeds to create Multisignature wallets should be used for only one wallet.

It is reported, that Smidgen uses a file which is shared between seed owners. With this file, it is possible to manage the wallet, with its addresses and transfers. This makes it easier to keep track of the current state. Private keys are not part of the file. 

IOTA charts on coinmarketcap.com IOTA charts on coinmarketcap.com

Meanwhile, as shown, IOTA cryptocurrency price is now about $0.57, its market capitalization is $1,595,297,508.

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   174

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.