TON to Launch by October 19 or Contracts Are Void

This information was found in the documented, drawn up on behalf of the founder of Telegram
22 February 2019   837

The blockchain platform Telegram Open Network (TON) should be launched no later than October 31, 2019. Otherwise, all agreements for the purchase of Gram tokens with the project investors will be canceled. This is evidenced by a document drawn up on behalf of the founder of Telegram Pavel Durov, but not signed by him.

It details the legal details of the purchase of Gram tokens, as well as the legal nuances of the distribution of tokens in certain jurisdictions.

According to the document, the Gram token will be issued and distributed immediately after launch blockchain platform TON. If the release of the main network does not take place until October 31, 2019, the contract will be invalid.

Document contains the address of Harneys Law Firm in the British Virgin Islands, where Telegram itself is registered.

As previously reported by ForkLog, the TON blockchain platform is 90% complete, the launch of the test network is scheduled for the end of March 2019.

The organizers of the ICO Telegram attracted $ 1.7 billion from a limited group of investors to develop the TON network.

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   271

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.