Scam ICOs Founder to Go In Jail For 1.5 Years

Maxim Zaslavsky from New York aws found guilty in launching 2 fraudulent ICOs which raised $2.8M in total
19 November 2019   553

Brooklyn-based 39-year-old Maxim Zaslavsky, who was found guilty of fraud in organizing two ICOs, was sentenced to 18 months in prison. This was reported by the attorney of the Eastern District of New York.

Zaslavsky and his associates deliberately misled about 1,000 investors that the REcoin cryptocurrency they created was backed by real estate investments in developing countries. During the ICO, they managed to raise $ 2.8 million.

In August 2017, a Brooklyn entrepreneur launched a second cryptocurrency, calling it Diamond Reserve Coin, which was supposed to be provided with diamonds.

The total amount that victims invested in these fraudulent ICOs will be determined later.

In November 2018, Zaslavsky pleaded guilty and, according to his lawyer, was ready to return the money to investors, but his accounts were blocked.

BTSE to Launch Tokensale On Liquid Bitcoin Sidechain

BTSE offers spot and futures trading, loans and debit cards, and an OTC platform, it also has a joint mining venture with Blockstream
10 December 2019   96

BTSE exchange will hold a token sale on the Blockstream Liquid Bitcoin sidechain. The site intends to raise $ 50 million.

The minimum investment will be $ 150 thousand, The Block reported.

BTSE offers spot and futures trading, loans and debit cards, as well as an OTC platform. The exchange has a joint mining venture with Blockstream.

In 2020, BTSE intends to earn $ 103 million, and by the end of 2021, monthly volumes should reach $ 70 billion.

In the first three months after the token sale, the exchange will redeem tokens. She plans to burn 100 million coins and leave 100 million in the market.

Private token sale started back in October. The completion of the three-round campaign is scheduled for February 2020.