My Big Coin Suspected by CFTC in Fraud

According to the CFTC, My Big Coin illegally seized more than $ 6 million in the period from 2014 to 2018
25 January 2018   640

The Commodity Futures Exchange Commission filed lawsuits against two people and one company in connection with their participation in fraudulent crypto projects. This is reported by CoinDesk.

The Commission accused Randall Creter, Mark Gillespie and My Big Coin Pay, Inc. in the receipt of funds from customers and their subsequent transfer to their personal accounts. The defendants are said to have spent these funds "on personal expenses and the purchase of luxury goods."

According to the CFTC, the defendants illegally seized more than $ 6 million in the period from 2014 to 2018. Respondents are also accused of falsifying information about the project, including statements that the company was provided with a gold reserve, and its partner was MasterCard.

The My Big Coin website offers many crypto-currency services, including the ability to purchase, sell and mine the My Big Coin cryptocurrency. The site's blog has not been updated since June 2017.

As this case shows, the CFTC is actively policing the virtual currency markets and will vigorously enforce the anti-fraud provisions of the Commodity Exchange Act. In addition to harming customers, fraud in connection with virtual currencies inhibits potentially market-enhancing developments in this area.

James McDonald 

Enforcement director, CFTC

The lawsuit was filed January 16, along with two other lawsuits against cryptocurrency crooks.

Casa to Launch Lightning Node Mobile App Called Sats

Casa to Launch Sats App With Lightning Network Support
04 July 2019   1011

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.