US SEC unit has filed the charges against fraudulent ICO

United States Security and Exchange Commission shuts down PlexCorp ICO and files charges against the founder
05 December 2017   1414

The investors were promised 1000% revenue in under a month, the team wasn't listed due to fears of them being poached by other companies, as was stated on their ICO page, and even the founder decided to stay anonymous. All of this contributed to SEC getting a closer look at the company.

The result of investigation being ICO closure and charges being pressed against PlexCorp founder Dominic Lacroix. All the anonymity byplay was for a good reason, it seems. Lacroix is quite famous, or infamous, in Canada for multiple violations of securities law. And his recent project, it seems, doesn't benefit anyone, except himself and his partner-in-crime Sabrina Paradis-Royer. Their ICO yield was above $15 million, but the investigation uncovered, that the funds went to their pockets and were spent on home decorations and personal expenses.

The commentary from the SEC states that this case checks all the points of being a full-fledged cyber scam and is exactly the type of fraud the unit is designed to prevent.

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Bittrex to List LOOM

LOOM is the token of the American startup Loom Network, which launches decentralized applications
18 July 2018   163

Popular cryptocurrency exchange Bittrex listed Loom Network token LOOM. 

As the team of the exchange said, trading with the crypto currency will begin in the near future. On the background of this news, LOOM showed a price jump fo 14%.

LOOM Price Chart
LOOM Price Chart

LOOM is the token of the American startup Loom Network, which is launching decentralized applications.

In January, Bittrex tightened the criteria for listing new tokens. Now, developers need to provide technical information about the token itself, as well as the data of at least one team member. At the moment, the exchange has 290 digital coins.