ICO Daily News: Clampdown of China Resumes

Clampdown of China Resumes

The government of China started another wave of a clampdown on cryptocurrency investors. The clampdown is mainly focused on China’s internet giants Baidu, Alibaba and Tencent (commonly referred to together as BAT).

The China’s Google – Baidu, allegedly has a restricted number of crypto chat rooms, like ’’Digital Currency Bar’’ and ’’Virtual Currency Bar’’, explaining:

 ’’This was done in accordance with relevant laws, regulations, and policies.”

Alibaba’s Ant Financial made an announcement regarding the restriction and banning of Alipay accounts if they get involved in cryptocurrency trades. Tencent, on the other hand, will supervise its Wechat network, so it can block crypto trading via the app.


ICO CEO Faces 15 Years in Prison

Eran Eyal, the CEO, and Founder of Shopin which raised over $42.5 million in an ICO back in April is facing charges that could mean fifteen years in prison. Eyal is charged with allegedly defrauding $600,000 from investors when he was the CEO of Springleap, Inc., a global crowdsourcing company.


The accusations revolve around the fact that he had been making false representations. In order to attract investors, he had allegedly been lying about the company’s management team, advisory board, creative professionals, and client base.

“As we allege, this massive securities fraud scheme bilked investors out of hundreds of thousands of dollars,”

said AG Barbara Underwood.

“Defrauding New Yorkers through false representations and fabrications about a business will not be tolerated by my office – and we’ll continue to do what it takes to root out and prosecute securities fraud.”

Brazilian Company ’’Atlas’’ Under Hacker Attack

Hackers have been stealing client personal data from the Brazilian crypto investment company Atlas Quantum. And even though, there has been no fund theft, the details on 264,000 people was compromised. CEO, Rodrigo Marques stated:

“We believe that an unauthorized party has gained information about our customers’ names, e-mails, phones, and balances. All other data, such as passwords, is encrypted and secure. There was no access to the funds in our custody. We are conducting an investigation, supported by our information security team, in addition to authorities. The entire database and information were sealed the moment we heard about it. We emphasize that we are constantly monitoring all activities within our environment. Some features of the platform have been temporarily disabled as a precaution to ensure the safety of our customers against possible fraud attempts. We are working to restore it as soon as possible.”


He added:

“We are aware that this type of incident should be avoided at all costs. That is why, on behalf of all Atlas Quantum employees, I reiterate that we will ensure that all security is strengthened and we will continue to work closely with partners and authorities to ensure the integrity of our customers.”

Soap Opera Actor Arrested

Thailand police department will expand their investigation of an alleged theft of over 5000 BTC from an investor from Finland, who was doublecrossed with the promise of high returns in a casino ICO token in Macau. The case was fairly exposed to the media, as the 27-year-old Jiratpisit “Boom” Jaravijit, a local soap opera actor, was arrested for scheming with his sister and brother on the scam.

As cited in Thai media, they have been colluding to commit fraud and take part in money laundering of 5,564,4 BTC, sent by 22-year-old Aarni Otava Saarimaa. The funds were allegedly supposed to be invested in a ’’Expay Software Co.’’ and in ’’Dragon Coin’’. But the Bitcoin was converted to Thai baht and sen to 51 bank accounts, that belonged to 7 different people, and some of that money was used to buy land in and around Bangkok.

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