MultiVAC IEO Ended in 7 Seconds

MultiVAC team was able to raise $3 600 000, selling the 600 000 000 MTV tokens
04 April 2019   932

The initial exchange offering of the MultiVAC cryptocurrency project was performed at the KuCoin Spotlight platform. The campaign lasted seven seconds, while 1661 users from 59 countries were able to take part in the campaign.

In total, the project has released 10 billion MTV tokens, of which 600 million coins have been allocated for sale on the Spotlight. The price of 1 MTV was $ 0.006, therefore the maximum fundraising goal was $ 3.6 million.

Only holders of the KCS, internal exchange's token could take part in the campaign; the maximum possible amount of investment was 1902 KCS.

Earlier, Kucoin reported that in the future, IEO projects on the KuCoin Spotligh platform will be conducted in a lottery format, similar to how Binance had previously done it.

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   271

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.