Virtual Crypto Technologies to launch NetoBit ATM

Virtual Crypto is going to demonstrate its bitcoin ATM NetoBit at the TechCrunch Tel Aviv event on June 7
06 June 2018   1117

A technology company dealing with publicly accessible cryptocurrency solutions Virtual Crypto Technologies is revealing its bitcoin ATM NetoBit at TechCrunch event in Tel Aviv on June 7. NetoBit is notable for being a bidirectional platform (users can buy and sell bitcoin for fiat). It is the world's first and only ATM providing a real-time conversion, purchase and sale of bitcoin.

NetoBit solution overall are distinctive for a validation algorithm (predict if the transaction will be approved immediately) and for allowing users to work with several crypto exchanges simultaneously for each transaction. Moreover, financial management system of Virtual Crypto supports an operation of a large number of ATMs and POSs (in April 2018 the company launched POS NetoBit Pay).

We continue to set standards for the burgeoning cryptocurrency sector. Our proprietary algorithm reduced the typical transaction time from 10 to 60 minutes to several seconds. At this stage, NetoBit ATMs combine that speed with the convenience of an ATM, giving customers the ability to buy and sell bitcoin with fiat money. The result is a vastly improved trading experience for customers, which we believe will be attractive to our business partners as well as consumers.


Alon Dayan

CEO, Virtual Crypto Technologies Ltd.

More details can be found here.

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   166

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.