SEC Forces Quantstamp To Refund Investors In $28 Million ICO Settlement

The U.S. Securities and Exchange Commission (SEC) has taken action against another startup in the crypto space for selling unregistered securities. Tierion, which raised $25 million in a token sale, has agreed to “return money to investors” and disable the trading of its token. SEC Brings Charges Against Tierion Over Its Crypto Offering Texas-based blockchain company Tierion Inc. has settled charges with the SEC for conducting an unregistered security offering when it sold the TNT token. The settlement followed the SEC’s order instituting cease-and-desist proceedings....

Quantstamp's audit is crucial to ensure a smoothly operating blockchain. One of the first audits of a decentralized finance project connected with the Polkadot (DOT) blockchain is set to be carried out by blockchain security firm Quantstamp. The project, Equilibrium, had first announced its plans to develop an interoperable protocol on Polkadot in summer of this year. For its transition to Polkadot, the project has been developing new products for its decentralized, cross-chain money market, such as interoperable stablecoins, a synthetic asset platform, and a decentralized....

Only users who stake 100,000 1INCH or more will receive a full refund for their gas fees. The non-profit arm of decentralized exchange aggregator 1inch plans to give away more than $23 million to users starting September 1.In an announcement on Tuesday, the 1inch Foundation said it would begin distributing 10 million of its native 1INCH in an effort to refund gas costs for users who stake the tokens. The foundation intends to issue monthly refunds for those who stake the token anytime between the first swap in a given month and the day it distributes 1INCH. At the time of publication, the....

Bter announces plans to refund 20,000 affected customers. It has been a difficult month for Bitcoin exchange Bter. On February 14th, 2015, 7,170 BTC was stolen from the exchange. The company launched efforts to trace the stolen bitcoins which led them to the mixing service known as Bitcoin Fog. In an exclusive interview with CCN, Bter officials explained that about 20,000 users were affected by the heist. The efforts at recovering the money from Bitcoin Fog have so far been unsuccessful. Bter has therefore opted to refund all of their clients who lost their bitcoins, a process that the....

Terrahash, one of several ASIC mining rig builders, has changed its refund policy. The company's FAQ has recently been updated to say that all orders are final. It does, however, say that customers can request a refund prior to shipping, and such requests will be considered on a case-by-case basis. Terrahash is selling mining rigs based on Avalon ASICs, which puts it at the mercy of the Avalon supply chain. Unfortunately, claims were made against Avalon that it was mining with customer ASICs. Terrahash has already changed its shipping policy. The company originally announced its DX Large....