$PAC to release desktop Electrum wallet

$PAC is in active development of the desktop Electrum wallet and is set to release it on April 1
24 March 2018   872

$PAC reported that the development of the Electrum wallet is coming along nicely and expects the release according to the initial schedule outlined in the whitepaper - April 1. The desktop wallet currently is a working prototype and the efforts of the team are focused on various elements of user interface to make it as user friendly as possible. As for the next step for the wallet, it would be the transfer to AWS to make it scalable.

The wallet doesn't download the blockchain using a remote server instead; it can be recovered from a secret seed; the same wallet can be used on different computers with auto-synchronization; and seed or private keys are not sent to the server - verification is performed using SPV. Another interesting feature that is characteristic to $PAC Network on general is a proposal system: proposals allow the $PAC community to vote on community projects if they deem the project is beneficial to the community.

At the moment of the publication the market indicators of PACcoin are as follows:

Average price: $0.007793
Volume (24h): $182,439

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   392

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.