Vulnerability found in IOTA

The researches report on the vulnerability found in IOTA cryptocurrency
08 September 2017   3588

The researchers from MIT Media Lab Digital Currency Initiative (DCI) report on the vulnerability found in IOTA cryptographic hash function. IOTA team provides its customers with this information via their social media:

As reported, the IOTA developers themselves agree with the conclusions of DCI only partially. At the same time, the report says that the creators of the cryptocurrency have already released a corresponding patch, eliminating the identified shortcomings. 

Neha Narula, Director and Digital Currency Initiative at the MIT Media Lab, believes that thanks to the newly discovered vulnerability of IOTA, attackers could destroy or steal users' funds.

You might think that IOTA, a cryptocurrency worth over a billion dollars, and working with organizations like Microsoft, University College London, Innogy, and Bosch, BNY Mellon, Cisco, and Foxconn (through the Trusted IOT Alliance) would not have fairly obvious vulnerabilities, but unfortunately, that’s not the case. 

Neha Narula
Director and Digital Currency Initiative at the MIT Media Lab

The price of the digital currency is reducing due to the information about the vulnerability found.

IOTA on the chart IOTA on the chart

Thus, at the time of writing, IOTA cryptocurrency price is about $0.53.

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   174

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.