Utrum to hold an ICO

Utrum platform is launching a token sale on April 24 with the distribution of a hack-proof token on Komodo platform
02 April 2018   1674

Project Utrum has announced it is holding an ICO on April 24. The token sale is set to use atomic swaps with a hack-proof token based on Komodo platform. Komodo was chosen for providing an independent blockchain; Bitcoin level of security with dPoW mechanism; Utrum native token OOT will be integrated into Komodo wallet Agama and Barterdex exchange (allows users to trade OOT with other coins by utilizing atomic swaps). The ICO will take place on Komodo AtomicDex Exchange App (much like ShapeShift using Electrum servers). Such approach will ensure the ICO will be completely decentralized without any point of failure.

Total supply is set to 216,000,000 units (23% of it will be distributed during the ICO) with a soft cap at $1 mln and a hard cap at $5 mln. Exchange rate is set at 1 OOT = 0.12 USD. A Komodo bonus (in case of using KMD to buy OOT) is set at 30% with a referral bonus at 5%. Accepted currencies include Komodo, Bitcoin, Bitcoin Cash, Z-cash, Dash, Litecoin.

Pre-ICO period will take place from April 24 to May 10. Main ICO will be on May 20 (without bonuses). The operational reserve tokens are to be locked for 2 years, platform contributors tokens will be released based on the content and team tokens are locked for a time period and released by 5% annually. According to the project roadmap, exchange listing follows the ICO.

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   392

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.