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Blockchain files a complaint against a cryptocurrency exchange, launching ICO next week

Priya

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Blockchain files a complaint against a company which is launching their ICO in 4 days
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Blockchain, a cryptocurrency company, announced on their official Twitter that they have filed a complaint against Blockchaindotio, a cryptocurrency exchange, for using their name and promoting false information to users.

According to the blog report, Blockchaindotio is a cryptocurrency launched by Paymuim, a company which focuses on providing services for Bitcoin. However, it is stated that the company which was popular for running Instawallet is rebranding itself since they lost their customers funds to a hack.

In the year of 2013, Paymuim claimed that Instawallet was compromised due to a hack and that the customers’ coins were stolen from the platform. The platform also stated that they have filed a complaint with the police. This falls in the same timeframe as that of Mt. Gox hack, the biggest cryptocurrency hack in the space.

However, the announcement of the hack eventually resulted in many stating that the platform was running a scam and are falsely claiming that they were hacked. This is because the platform failed to show any evidence related to the police report despite the community asking for it several times. Reportedly, the company has not completely paid off the claims made by their customers.

Blockchain claims that the platform is rebranding itself in order to conceal the allegations of scam. The blog further stated the company is falsely claiming that they have registered with the Securities and Exchange Commission [SEC] for their Initial Coin Offering [ICO]. The ICO is going to be launched in next week on 27th September 2018.

This would result in the investors being unable to trade the token publicly. Moreover, the report also stated that there is no evidence regarding the ICO being regulated by the French ACPR.

Blockchain stated that they are particularly concerned about that the company rebranded to a name which is similar to theirs and that it has already led to a lot of confusion in the market.

They stated that the similarities which both the companies share include the domain name, the color of the portal, logo, and the tagline. Blockchain further stated that there have been several people questing them about the ICO.



Blockchain said:

“Blockchain is not doing an ICO. When we inspected blockchain.io’s social media and Telegram channels, we discovered that many more people had assumed that blockchain.io was Blockchain.”

They further added:

“To protect our users and maintain the trust we’ve worked so hard to build, we’ve had to take action. Today we filed a complaint in US federal court. We’ll file more complaints in other courts if we need to and we will continue to fight false and misleading statements that endanger the crypto community.”





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Bitcoin

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
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Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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