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37,000 Investors Await Refunds from ‘Illegal’ $90 Million Envion ICO
⭐ Merited by cybersofts (1)
https://www.ccn.com/90-million-envion-ico-illegal
The Envion scandal was one of the most dramatic sagas to unfold in the cryptocurrency space, and its not over yet.
Swiss regulators have ruled that the crypto mining firm behind the $90 million ICO in 2018 participated in illegal activity. Specifically, Envion AG unlawfully received public deposits from 37,000 investors according to the FINMA regulatory authority.
Based in Zug, the company is now being liquidated, hopefully, to compensate investors.
Delusions of Grandeur
The project started out with great potential. To most onlookers, it seemed like a genuinely promising opportunity in a space rife with half-baked ideas.
A high-functioning cryptocurrency mining unit that users could buy shares in was the basic concept.
With an experienced CEO, solid partnerships, and what appeared to be a working product in production, the stage was set. It wasnt to be.
The project fell apart after what was described by many as a hostile takeover on the part of Matthias Woestmann, the CEO.
The founders accused Woestmann of squeezing them out of the company and embezzling funds. They set up a website to communicate with investors.
Suddenly a relatively unknown figure, Michael Luckow, seemed to be a crucial member of the team.
Meanwhile, Woestmann accused the founders of printing off 40 million excess tokens (later saying 20 million) and selling them, taking the money for themselves. This is the reason, he claims, that he pushed them out.
The founders accused Woestmann of changing aspects of the ICO prospectus, which appeared to be true.
A complaint was filed in Germany and Swiss regulators also began working on the case.
The Envion scandal was one of the most dramatic sagas to unfold in the cryptocurrency space, and its not over yet.
Swiss regulators have ruled that the crypto mining firm behind the $90 million ICO in 2018 participated in illegal activity. Specifically, Envion AG unlawfully received public deposits from 37,000 investors according to the FINMA regulatory authority.
Based in Zug, the company is now being liquidated, hopefully, to compensate investors.
Delusions of Grandeur
The project started out with great potential. To most onlookers, it seemed like a genuinely promising opportunity in a space rife with half-baked ideas.
A high-functioning cryptocurrency mining unit that users could buy shares in was the basic concept.
With an experienced CEO, solid partnerships, and what appeared to be a working product in production, the stage was set. It wasnt to be.
The project fell apart after what was described by many as a hostile takeover on the part of Matthias Woestmann, the CEO.
The founders accused Woestmann of squeezing them out of the company and embezzling funds. They set up a website to communicate with investors.
Suddenly a relatively unknown figure, Michael Luckow, seemed to be a crucial member of the team.
Meanwhile, Woestmann accused the founders of printing off 40 million excess tokens (later saying 20 million) and selling them, taking the money for themselves. This is the reason, he claims, that he pushed them out.
The founders accused Woestmann of changing aspects of the ICO prospectus, which appeared to be true.
A complaint was filed in Germany and Swiss regulators also began working on the case.
[2019-03-28] Bitcoin Exchange Coinbene Swears it Wasn’t Hacked: Traders Fear the
https://www.ccn.com/exchange-coinbene-swears-it-wasnt-hacked-traders-fear-the-worst
Another major cryptocurrency exchange has gone dark, and bitcoin traders once again fear that it is using maintenance to cover up a crippling hack.
This time, the medal goes to CoinBene, one of the largest cryptocurrency exchanges according to CoinMarketCap.com. Per self-reported data, the platform enjoys over $780 million in daily trades through assorted cryptocurrencies including bitcoin, bitcoin cash, litecoin, and monero.
#Announcement ‼
Somebody doubt CoinBene was attacked by hacker recently because our maintenance.
We CoinBene are so sorry that made everyone worried for this problem.
Truth is 👇 pic.twitter.com/2P8Ulwjj6C
CoinBene Global (@CoinBene) March 27, 2019
Is CoinBene Trying to Cover a Hack?
When services were down, and users began noticing extended delays while withdrawing and depositing funds, they instantly feared the worst. Thoughts that the company had somehow been exploited or potentially compromised by a cyberattack caused many to reach out for help, though executives initially claimed that the slow service was the result of maintenance.
Another major cryptocurrency exchange has gone dark, and bitcoin traders once again fear that it is using maintenance to cover up a crippling hack.
This time, the medal goes to CoinBene, one of the largest cryptocurrency exchanges according to CoinMarketCap.com. Per self-reported data, the platform enjoys over $780 million in daily trades through assorted cryptocurrencies including bitcoin, bitcoin cash, litecoin, and monero.
#Announcement ‼
Somebody doubt CoinBene was attacked by hacker recently because our maintenance.
We CoinBene are so sorry that made everyone worried for this problem.
Truth is 👇 pic.twitter.com/2P8Ulwjj6C
CoinBene Global (@CoinBene) March 27, 2019
Is CoinBene Trying to Cover a Hack?
When services were down, and users began noticing extended delays while withdrawing and depositing funds, they instantly feared the worst. Thoughts that the company had somehow been exploited or potentially compromised by a cyberattack caused many to reach out for help, though executives initially claimed that the slow service was the result of maintenance.
[2019-03-28] North Korean Hackers Don’t Give a $#%! about Crypto Winter
https://www.ccn.com/north-korean-hackers-dont-give-a-about-crypto-winter
The cryptocurrency sector may still be in a bearish phase, but the state-sponsored North Korean hacking group Lazarus remains absurdly bullish on the bitcoin industry at least if its continued focus on the sector is anything to go by.
For Lazarus, Crypto Exchanges are the Geese that lay Golden Eggs
Per cybersecurity firm Kaspersky Lab, both Mac and Windows OS users remain vulnerable to the groups ongoing hacking effort. Lazarus is understood to have launched the operation in November last year.
For this effort, the hacking group has created custom PowerShell scripts which communicate with malicious command & control (C2) servers and run commands initiated by the operator. The names of the C2 server script names are made to look like WordPress files or other open source projects.
The cryptocurrency sector may still be in a bearish phase, but the state-sponsored North Korean hacking group Lazarus remains absurdly bullish on the bitcoin industry at least if its continued focus on the sector is anything to go by.
For Lazarus, Crypto Exchanges are the Geese that lay Golden Eggs
Per cybersecurity firm Kaspersky Lab, both Mac and Windows OS users remain vulnerable to the groups ongoing hacking effort. Lazarus is understood to have launched the operation in November last year.
For this effort, the hacking group has created custom PowerShell scripts which communicate with malicious command & control (C2) servers and run commands initiated by the operator. The names of the C2 server script names are made to look like WordPress files or other open source projects.
Re: [BOUNTY][IRX] IRONX - Best in Crypto - 3,750,000 IRX bounty
#proof of authentication
bitcointalk user name: cryptovance
bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=1444456
telegram: @cryptovance
reddit user name: cryptovance
reddit url : https://www.reddit.com/user/cryptovance
ETH: 0xc7EE2f42892437aB0c172043621b04406603963b
bitcointalk user name: cryptovance
bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=1444456
telegram: @cryptovance
reddit user name: cryptovance
reddit url : https://www.reddit.com/user/cryptovance
ETH: 0xc7EE2f42892437aB0c172043621b04406603963b
Re: When you first know about bitcoin what was the price?
bitcoin price is know over $11714.95 and growing,
share your knowledge/memory of the first time you know of the value of bitcoin was.
My first time knowing bitcoin it was valued at $200+.
The first time I heard about the bitcoin the price was 2,300+ around June 2017 and I thought the price is going hold at $2k for at least year, later everything skyrocketted. share your knowledge/memory of the first time you know of the value of bitcoin was.
My first time knowing bitcoin it was valued at $200+.
Japan contributes a lot when it comes to cryptocurrency because it is the first country to full recognized cryptocurrencies before any other country. Surely, people will be focusing and listening about the last crypto buzz from Japan, what are latest altcoins to invest in and so on. we are expecting to have more fun in 2018 better than this year 2017 and stack more bucks.
Why Bitcoin dip today, just before the Segwit2X hard fork? Normally, a fork only rises the Bitcoin price.
And the price of SegWit2x in https://coinmarketcap.com/currencies/segwit2x/#markets also drops heavily.
No. i believe bitcoin is still recovering from the last correction. Some time it takes a month or two for bitcoin to fully recover.And the price of SegWit2x in https://coinmarketcap.com/currencies/segwit2x/#markets also drops heavily.
At this time bitcoin price is very dumping.I think it's time to buy bitcoin.Do you think, this is the right time to buy bitcoin or wait few days.Please tell me?
Yes, i think when the price of bitcoin is going down that is the right time to buy, but before you buy you may also follow the price chart slowly to see where it will hit the buttom.