SegWit is now live on HitBTC

HitBTC cryptocurrency exchange now supports SegWit protocol
30 September 2017   3187

One of the top cryptocurrency exchanges, HitBTC, has announced that from now on it supports SegWit technology, which is aimed to "cure a whole series of original Bitcoin imperfections", such as possible malleability bugs, blocks being clogged with transaction data reducing network speed, fees that are getting higher.

HitBTC on coinhills.com
HitBTC on coinhills.com

Thus, the report details that from now on the exchange supports incoming and outcoming SegWit transactions. SegWit is a backward-compatible technology, which means none of existing functionality will be affected in any way, so that customers may feel free to withdraw their coins to non-SegWit addresses, same goes for deposits.

To start receiving SegWit transactions, the users have to simply create new Bitcoin address in their account. From today on, every new generated address will be compatible with new technology. As reported, outcoming transactions are now also sent in SegWit format. Withdrawal fees are about to decrease by 50%.

Bitcoin price chart on coinmarketcap.com
Bitcoin price chart on coinmarketcap.com

Meanwhile, the top cryptocurrency price is about $4181.33, it’s market capitalization is $69,388,280,727.

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   235

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.