Uphold May Become Regulated Broker-Dealer

Uphold purchased the JNK Securities Corp, a member of the New York Stock Exchange
28 June 2018   275

The provider of mobile payment solutions Uphold announced the purchase of JNK Securities Corp, a member of the New York Stock Exchange, as well as the filing of an application to replace the owner of the organization in the Agency for Regulation of Financial Institutions (FINRA). This is stated in the official blog of Uphold.

If the application is approved, Uphold will be able to legally provide its users with the opportunity to trade shares and security-tokens. JNK Securities clients will also have access to all trading pairs of crypto currency / Fiat, supported by the platform.

This agreement furthers Uphold’s mission to enable people all over the world to hold any form of money, commodity, or utility tokens securely, and to be able to transact seamlessly. I’m excited to welcome JNK to the Uphold team and continue to create a trusted digital currency platform that gives our members secure and compliant access to digital and traditional currencies. 

Adrian Steckel

CEO, Uphold

The company is convinced that the activities under the supervision of the Securities and Exchange Commission (SEC) and FINRA will provide customers with reliable, transparent and secure access to digital assets. 

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   120

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.