A controversial social network seeks funding via an ICO to develop its platform for those disaffected by today's social media monopoly.
Thursday, February 1, 2018
SEC Halts AriseBank ICO, Calling It “an Outright Scam”
In a statement from the Securities Exchange Commission (SEC), an emergency relief action was filed to shut down AriseBank, which it described as “an outright scam.”In a growing list of enforcement actions by the SEC, the complaint against AriseBank stated that the Dallas-based company had used deceptive tactics to raise what they claim was $600 million of its $1 billion goal in just two months. Co-founders Jared Rice Sr. and Stanley Ford are being charged with alleged fraud and issuing unregistered securities during its ICO.On January 18, 2018, AriseBank had announced the purchase of two FDIC insured banks, KFMC Bank Holding Company and TPBG, neither of which exist. AriseBank also offered customers an AriseBank-branded VISA card to spend any of the 700-plus cryptocurrencies using their purported algorithmic trading application that automatically trades in various cryptocurrencies, in addition to allegedly failing to disclose the criminal background of key executives.Co-director of the SEC’s Enforcement Division, Stephanie Avakian, said, “We allege that AriseBank and its principals sought to raise hundreds of millions from investors by misrepresenting the company as a first-of-its-kind decentralized bank offering its own cryptocurrency to be used for a broad range of customer products and services.” Avakian continued, “We sought emergency relief to prevent investors from being victimized by what we allege to be an outright scam.” AriseBank had recently announced it was teaming up with boxing legend Evander Holyfield to help raise money for disaster preparedness. Now, however, a cease-and-desist order has been executed, their office and executives homes have been raided, their assets have been seized, their website is down and their ICO has been stopped.SEC co-director, Steven Peikin, said, “This is the first time the Commission has sought the appointment of a receiver in connection with an ICO fraud. We will use all of our tools and remedies to protect investors from those who engage in fraudulent conduct in the emerging digital securities marketplace.”This article originally appeared on Bitcoin Magazine.
China's Cheetah Mobile Launches Cryptocurrency Wallet
Chinese mobile app company Cheetah Mobile has released an Android-based digital wallet for ethereum and bitcoin.
South Korea Has No Intention to Ban Cryptocurrency Exchanges, Confirms Finance Minister
The post South Korea Has No Intention to Ban Cryptocurrency Exchanges, Confirms Finance Minister appeared first on CCN South Korea’s finance minister has confirmed the government has no plans to shut down cryptocurrency trading or exchange platforms. After weeks of confusion and panic among Korean investors, traders and adopters of cryptocurrencies fearing a sweeping government... View Article
ETicket4 Raises $400k in Successful 2-day Private Sale, Announces Launch of Public Pre-ICO
ETicket4 raised about $400 000 during the successful two-day ET4 tokens private sale. Today, February 1st, the company announces the start of the public pre- ICO. Eticket4, an international p2p-platform where you can buy tickets on the secondary market for any event, has successfully completed the private sale of ET4 tokens and announces today, February 1st, the launch of the public Pre ICO, which will last until February 21st. During the private sale, which took
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The post ETicket4 Raises $400k in Successful 2-day Private Sale, Announces Launch of Public Pre-ICO appeared first on Bitcoinist.com.
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The post ETicket4 Raises $400k in Successful 2-day Private Sale, Announces Launch of Public Pre-ICO appeared first on Bitcoinist.com.
Newly Detected Malware Uses NSA Exploit To Mine Monero, Over 500K PCs Infected
Cybersecurity researchers have discovered a new Monero-mining botnet malware that has infected over half a million PCs worldwide using Eternalblue, a leaked NSA exploit.
Cryptocurrency mining botnet malware Smominru has infected more than 526,000 computers using a leaked NSA exploit, The Hacker News reported yesterday, Jan. 31.
Software security researchers from cybersecurity company Proofpoint have detected a new global botnet called Smominru, also known as Ismo, that uses a National Security Agency (NSA) exploit EternalBlue to spread Monero mining malware.
The EternalBlue exploit was leaked by the so-called Shadow Brokers hackers who were reportedly also behind the 2017 widespread WannaCry ransomware threat, according to The Hacker News.
Proofpoint reported that the Smominru botnet has been infecting computers since May 2017, mining about 24 Monero coins per day. To date, the botnet has reportedly managed to mine about 8,900 Monero, or about $2.1 million at press time. The highest number of Smominru-infected PCs has been found in Russia, India, and Taiwan, researchers said.
According to Proofpoint, cybercriminals are targeting vulnerable version of Windows, also using a leaked NSA protocol exploit called EsteemAudit.
According to thehackernews.com, the experts also notified DDoS protection service SharkTech where Smominru’s command and control infrastructure has been detected, however, they didn’t get a response.
As Cointelegraph reported Jan. 28, a massive Monero-mining malware attack via online ads, mostly attributed to the controversial cryptocurrency mining and advertising platform Coinhive, has affected a huge number of users and online businesses worldwide, including Youtube.
European Utility Giant Says ‘No’ To Crypto Mining, Even With ‘Clean Energy’
Italy-based Enel, one of the largest power utility companies in Europe, has reported that it will not be selling renewable energy to off-grid mining company Envion, calling crypto mining an “unsustainable practice”
Enel, one of Europe’s largest power utility companies, announced today, Feb. 1, that they would not be selling renewable energy to crypto mining company Envion.
In a brief statement to Reuters, the Italy-based company said that they had “no interest whatsoever in selling power” to a mining company:
“Enel has undertaken a clear path toward decarbonisation and sustainable development and sees the intensive use of energy dedicated to cryptocurrency mining as an unsustainable practice that does not fit with the business model it is pursuing.”
Enel had reportedly been in talks for a deal with the Swiss-based Envion AG, an off-grid mining company that claims to use decentralized, clean energy to power its mobile mining units, prior to today’s decision not to sell. Each Envion unit is installed inside of a shipping container and can be powered by a solar or wind farm anywhere in the world, eliminating a reliance on any one country’s infrastructure.
Almost 70 percent of the world’s cryptocurrency mining takes place not in Europe, but in China, due to the cheap electrical costs there. However, as China has recently been tightening up regulations on crypto trading in the country, banning ICOs and exchanges, there is concern that miners could face power restrictions in China.
As CT reported in December 2017, standard Bitcoin mining globally uses more power than most African countries. With crypto mining in China based on either the use of coal or hydroelectric power, companies have tried innovative ways to use more renewable forms of energy, like a Netherlands-based company that tried to harness human body heat for mining purposes.
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