ShipChain to be Hit by South Carolina Sanctions

Blockchain startup was ordered to immediately stop illegal activities from the Attorney General's Office of South Carolina
23 May 2018   554

This decision is caused by the alleged violation of the requirements of regulatory acts on securities operating in the state. This is reported by Coindesk.

The Securities Commissioner of South Carolina argues that the startup was engaged in the distribution of investment contracts under the guise of digital tokens, which are "the only medium of exchange on its platform."

At all times relevant to this Order, Respondent ShipChain continuously offered investment opportunities in the ShipChain platform and the corresponding tokens to South Carolina residents through its website and in-person events held in South Carolina. At no time relevant to the events stated herein was Respondent ShipChain registered with the Division as a broker-dealer, and no exemption from registration has been claimed by Respondent ShipChain.
 

Attorney General's Office of South Carolina Cease-and-Desist Order

ShipChain positions itself as a blockchain-based platform for delivery tracking. It is the member of the Blockchain in Transport Alliance along with such well-known companies as FedEx and JD.com.

Within 30 days, a start-up may request a hearing on the case, during which it must prove why the sale of its tokens is not the distribution of unregistered securities. Otherwise, ShipChain will be prohibited from "doing business" and "participating in any aspect of the securities industry in or out of South Carolina."

In their Twitter ShipChain reported that their lawyers intend to respond to the demand of the regulator as soon as possible.

Chinese Miners to Fall Victims of Ransomware

Looks like ransomware came together with "improved" firmware, that should "overclock" device
21 January 2019   79

In China, a ransomware spreads, victims of which are Bitcoin miners. The damage from its activities is measured in tens of thousands of dollars. This is reported by Trustnodes.

The virus infects miners, released by Bitmain, and requires you to send 10 bitcoins, otherwise threatening to cause overheating of the device.

The problem is solved by formatting the SD card of the infected device, however, as Trustnodes notes, the whole process can take up to four days, while malicious software rapidly spreads to the other miners.

Compromised device
Compromised device

Probably, the virus comes with an "improved" firmware for miners. Some owners install such firmware to “overclock” their ASIC devices and improve their performance.

The first messages about the virus refer to August last year. In particular, Antminer S9, T9 and even L3 + for Litecoin were attacked. Over time, the malware has been improved. Now its distributor himself can decide when to display a message requesting a ransom. One miner also said that one night the address to which the 4,000 devices belonging to him sent the mined cryptocurrency was changed to the address of the hacker, which brought him $ 8,000.