VeriBlock IEO to Last for 10 Seconds

No details had been provided, but a lot of users are angry due to the fact they wasn't able to took part in the process
03 April 2019   711

The IEO of VeriBlock, ran on the Bittrex International cryptocurrency exchange lasted only 10 seconds.

Details on the campaign are not yet known - the representatives of the exchange only thanked the participants of IEO on Twitter and called to follow the new tokensale.

Many users of social networks have expressed dissatisfaction with the fact that they did not manage to acquire VeriBlock tokens. Some advise team to rethink the process of IEO due to sad fact many wasn't able to take part.

VeriBlock, whose main network was launched on March 25, allows networks of other cryptocurrencies to use the Bitcoin blockchain to counter the “51% attacks”. VeriBlock is built on the Proof-Of-Proof consensus algorithm: users can upload snapshots of other blockchains to Bitcoin via the OP_RETURN function.

Among the strategic investors and partners of the Bittrex CEO project is Bill Shihara and the founder of Bloq, Jeff Garzik, as well as the general partner of Fenbushi Capital Bo Shen.

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   182

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.