Soundchain finally solved issues with Poloniex

Last Soundchain's transactions at the Poloniex exchange unblocked 
24 August 2017   1618

Russian blockchain startup Soundchain reported on problems with the Poloniex cryptocurrency exchange. Thus, the company can not withdraw their funds after the change in the Poloniex’s policy towards citizens of the countries against which the USA sanctions are imposed. 

According to the statement of Artem Abaev, Soundchain Founder, Poloniex ignored all messages from Soundchain for a while, the founds was literary "frozen". 

Artem Abaev’s post had a great resonance in the community, thereby causing a mass funds withdrawal of Russian Poloniex customers.

Probably, that’s why the exchange’s administration promptly contacted Soundchain and argued that they did not stop working with Russian citizens.

Today, 24.08.2017, new information appeared - good news now. According to the Abaev's Facebook post, last Soundchain transactions were "refrozen" and team starts withdrawal of funds

I'm glad to announce that the epic with Poloniex is coming to an end, last night we were able to unblock the last frozen transactions. Today we will start the withdrawal. Due to the media hype, the Poloniex support service also reacted to other tickets of those who had their funds frozen.

Due to political risks, we are not going to work with American exchanges, which include such terms in their agreements.

Artem Abaev
Soundchain, founder

Also, Artem explained why funds were kept at the cryptocurrency exchange.

We have drawn up a financial plan for the project for the near future and made calculations. Due to the fact that BTC is very volatile on the market, we've fixed in the crypto currency dollar at the exchange. If, for example, BTC lost about 20%, it could seriously disrupt our plans. We are trying to do all payments and calculations in the crypto currency, but with some periodicity Tether USDT will be converted back to BTC. To solve this issue for a project users, we actually came up with the project, wrote WP and will develop it as soon as we scale the team.

Artem Abaev
Soundchain, founder

Well, it' s a good ending for such a difficult situation. We hope that Soundchain team will not face any issues in the future.

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Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   125

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.