Ontology is ready for MainNet launch

Ontology's MainNet is going live on June 30 with a simultaneous swap NEP-5 ONT token to ONT
14 June 2018   1443

High-performance public blockchain project Ontology is going to launch the MainNet on June 30. The launch will mark the transition of the project from NEO blockchain onto one of its own. Thus, current NEP-5 ONT token will be swapped for ONT. The swap period will be active for 3 months till October 1.

As of now, exchanges like Binance, Huobi, OKEx, Upbit, KuCoin and Gate.io are supporting the migration. The swap procedure assumes an automatic mapping as well as a manual method.

Ontology is a distributed trust collaboration platform that provides public blockchains that include a series of complete distributed ledgers and smart contract systems. At the moment of publication, Ontology market indicators are as follows:

Average price 6.07 USD
Market cap 918,574,979 USD
Volume (24H) 100,104,000 USD

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   166

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.