Revolut to Hire Hackers to Crack Its System

Hackers "will actually be continually testing our security", according to Chief Information Secuiry Officer
21 February 2019   619

The British fintech startup Revolut is recruiting a team of cybersecurity experts to identify IT vulnerabilities. This is reported by the Independent.

According to the CISO Paul Heffernan, hackers will analyze various threats on the darknet and apply them to the Revolut platform.

One of the responsibilities of this team is to come in and just hack all of our own systems for us. They will actually be continually testing our security and hacking into our own systems for us and using that knowledge to keep us secure.
 

Paul Heffernan

Chief information security officer, Revolut

It is expected that a team of cyber-specialists will be staffed within three months.

Revolut also plans to upgrade its own IT platform, abandoning unreliable banking infrastructure.

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   182

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.