Bitcoin News — Security
Posted by Ana Alexandre on
The Colorado Securities Commissioner has ordered four initial coin offerings to immediately cease and desist in connection with offering unregistered securities.
Colorado State Securities Commissioner Gerald Rome has issued a cease and desist order to four Initial Coin Offerings (ICOs) for allegedly offering unregistered securities, according to an official notice published Nov. 8.
The orders come as part of a state operation by the “ICO Task Force” within the Department of Regulatory Agencies (DORA), which in May of this year commenced investigations into potentially unlawful activity targeting cryptocurrency investors. With yesterday’s orders, DORA has now issued 12 cease and desist actions against ICOs.
On Nov. 8, Rome signed four orders to Bitcoin Investments, Ltd. — which is also conducting business as DB Capital — PinkDate, Prisma, and Clear Shop Vision Ltd.
Per the notice, Bitcoin Investments claims to be a blockchain investment firm with over $700 million assets under management across multiple funds. The company allegedly promised its customers over one percent daily returns along with additional returns on internal trading of the “DB Token.”
The company reportedly claimed that “the average registered investment return over a two month period in 2017 was an amazing 95 percent,” while its ICO lists a number of celebrity promoters.
Bitcoin Investments’ website reportedly deploys the same format, visual content, and employee team as the U.S. Securities and Exchange Commission’s (SEC) educational site about related risks for potential crypto investors. Per the statement, DB Token ICO has not been registered as a security with the Division of Securities.
“Anonymously-operated, worldwide escorting service[s]” company Pinkdate allegedly seeks to fundrise more than $5 million via an ICO in tokens referred to as PinkDate Platform (PDP). The statement says that the firm promises investors “50 percent of Net Profits through dividends” in Bitcoin (BTC), Ethereum (ETH), Monero (XMR), or Bitcoin Cash (BCH). The PinkDate ICO allegedly has not been registered with the Division of Securities.
As for Prisma, its website allegedly requires users to buy its native crypto Prismacoin (PRIS) to use a proposed lending and arbitraging investment platform, through which investors could ostensibly profit up to 27 percent on their initial investment. The “arbitrage bot” is claimed to generate returns of up to 1.5 percent daily.
The last company on the list, Clear Shop Vision, Ltd, has promoted three ICOs since June 2018 and offered “ORC Token” with a “serious appreciation potential.” The company’s site allegedly directs investors to send ETH directly to Clear Shop’s ETH wallet, but not through a crypto exchange.
Per the notice, all mentioned companies have to immediately cease and desist all alleged violations of the Colorado Securities Act, including unregistered securities and fraud.
Posted by Zack Seward on
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- Tags: Banking, Business News, Canada, cybersecurity, News, Security, VersaBank, VersaVault
Posted by Bitcoin.com PR on
The Volentix digital assets ecosystem is composed of four core applications. VENUE is a dynamic community platform that recruits and aligns members of the VOLENTIX community to support distribution of the native VOLENTIX digital asset VTX. VERTO is built as a multi-currency wallet to facilitate personal custody and local management of private and public keys for use in peer-to-peer transactions, with the goal of eliminating risks of devastating losses of stake associated with traumatic failures of central operators. VESPUCCI is in development as an analytics engine accessible via a user-friendly interface with real-time and historical market data, including digital assets ratings and sentiment analyses. VDEX is envisioned as a distributed, decentralized digital assets exchange with emphasis on user experience, security, speed, authentication, ease of use, scalability, multi-asset support, and community development and governance implemented by a decentralized autonomous organization (DAO) constructed on custom-built applications using EOS.IO smart contracts and related technology.
The post PR: Volentix Introduces a Digital Assets Ecosystem DAE appeared first on Bitcoin News.
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- Tags: Athens, authentication, DAE, Digital Assets Ecosystem, ease of use, eos.io, Exchange, Greece, multi-asset support, peer-to-peer transactions, Press release, Scalability, Security, Smart Contracts, speed, Token, trading, user experience, VESPUCCI, VOLENTIX, VTX, Wallet
Posted by William Suberg on
A cybersecurity subsidiary of Japan’s Nomura Research Institute’s (NRI) “Blockchain Security Monitoring Service” will at first focus on smart contract vulnerabilities.
A cybersecurity subsidiary of Japan’s Nomura Research Institute (NRI) unveiled a new blockchain security alert tool in a press release Nov. 8, also confirming a partnership with U.S. blockchain software company ConsenSys.
With the tool, dubbed the “Blockchain Security Monitoring Service,” NRI SecureTechnologies (NRI ST) said it aimed to increase security in blockchain implementations, informing operators about “vulnerabilities.”
The solution’s first outing will target smart contract weaknesses, the release says, while at the same time NRI ST will work with ConsenSys’ Diligence team on expanding its security offering.
Last week, a group of researchers from two American universities found that a lack of diversity in Ethereum smart contracts could pose a threat to the ETH blockchain ecosystem.
Commenting on the partnership plans, the latter’s cofounder Tom Lindemann explained:
“We plan to collaborate closely to bring powerful automated smart contract analysis services to customers worldwide and to further our shared goal of making Ethereum safer for everyone.”
NRI itself meanwhile has continued to engage with cryptocurrency, publishing periodic outlook reports on markets.
In the future, NRI ST plans to expand its activities to fresh overseas markets via arrangements with other, as yet unnamed, “finance technology companies.”
This, the release concludes, will “widen the range of application of this service and to make contributions in the area of security in the development of blockchain technology and for the businesses that use it.”
Posted by Aaron Wood on
The Deputy Prime Minister of Thailand has called for more regulation on cryptocurrencies, urging experts not to lag in developing new security practices.
While Thailand introduced a regulatory framework for cryptocurrencies earlier this year, Krea-ngam urged that new measures must be introduced both domestically and internationally in order to keep up with new tactics and threats to consumer security.
Speaking at the Counter-Terrorism Financing Summit, Krea-ngam said that experts should not be satisfied with current security protocols so as not to lag behind criminals that would use cryptocurrencies for funding terrorism or money laundering. He also noted the security challenges posed by the anonymous nature of some digital assets.
"The laws need to be amended in the future so that we can better keep up with technological changes," Krea-ngam said.
In addition to forming a clear legal framework for crypto business, Thailand has also allowed its financial institutions enter the industry, albeit with some restrictions. In August, the Bank of Thailand (BoT) permitted local banks to set up subsidiaries for dealing with crypto business.
While Thai banks can issue digital tokens, provide crypto brokerage services, run crypto-related businesses, and invest in cryptocurrencies through subsidiaries, BoT reaffirmed that all banks and other financial institutions are still banned from direct dealing with cryptocurrencies.
Thailand has also embraced the blockchain technology that underlies cryptocurrencies. In October, the Thai MInistry of Commerce began to conduct feasibility studies for blockchain deployment in agriculture, trade finance and copyright. An official from Thailand’s Trade Policy and Strategy Office (TPSO), Pimchanok Vonkorpon said that the studies would also refer to processing digital IDs, IP registration management, and security, along with smart contracts.
Yesterday, the Thai Revenue Department announced that it plans to track tax payments using blockchain technology and machine learning. The Revenue Department’s director-general Ekniti Nitithanprapas said that blockchain will be used to verify the validity of taxes paid and to speed up the tax refund process. He said that machine learning would provide more transparency to the process and allow the department to more effectively detect tax fraud.