South Korea Investigates 20 Pseudo-Crypto Companies

The companies are suspected in using the cryptocurrency claims to boost their share prices
26 February 2018   311

South Korea's Financial Supervision Service initiated an investigation into 20 firms that claim to be associated with the cryptocurrency sector and traded on the local exchange Kosdaq, suspecting them of using unscrupulous methods. This is reported by Bitcoin.com.

The regulator warned investors about "that a number of unfair trade transactions were found in so-called ‘virtual currency-related stocks’ in the stock market." The department notes that in many cases shares price of these companies began to grow.

There has been a frenzy of virtual currency related stocks in the stock market…Many listed companies have announced related business plans such as [launching] virtual currency exchanges and so-called ‘virtual currency themes’. The share price of the virtual currency stock surged due to the announcement of the business plan.
 

The Korean Banker

The regulator does not mention the names of the companies in respect of whom the investigation was initiated, but the media notes:

  • Mgame,
  • CTL Inc,
  • Woori Technology Investment,
  • SCI Credit Rating & Information,
  • Hanbitsoft, Fourthlink,
  • Makus
  • Igis System.

The Financial Supervision Service promised in the future to closely monitor such inappropriate activity in the market and punish the companies that will be caught in it.

Change.org to Mine for Charity

According to the calculations, if 10k computers will run the minning screensaver for 12 hours a day, the charity fund will receive $10k monthly
18 July 2018   104

Social platform for petitions Change.org announced the launch of a screensaver that mines Monero on users' computers. All tokens will be transferred to the charity fund of Change.org. This is reported by Coindesk.

This initiative was launched in partnership with the marketing agency Tracelocke Brazil.

Representatives of Change.org report that the screensaver will consume resources only when users do not use the computer. According to their calculations, if 10 thousand computers will run the screensaver for 12 hours a day, the charity fund will be transferred $ 10 thousand monthly.

At the moment the program is available only for Windows users and the platform did not report on the release plans for the version for macOS.

Note that at the end of April, a similar action was launched by the Australian unit of the United Nations International Children's Emergency Fund; (UNICEF). The website "Page of Hope" mines Monero cryptocurrency.