SEC Stops Fraudulent ICO That Falsely Claimed SEC Approval 1801

The Securities and Exchange Commission today announced that it has obtained an emergency court order halting a planned initial coin offering (ICO), which backers falsely claimed was approved by the SEC. The order also halts ongoing pre-ICO sales by the company, Blockvest LLC and its founder, Reginald Buddy Ringgold, III.

An SEC complaint unsealed yesterday alleges that Blockvest falsely claimed its ICO and its affiliates received regulatory approval from various agencies, including the SEC. According to the SEC’s complaint, Blockvest and Ringgold, who also goes by the name Rasool Abdul Rahim El, were using the SEC seal without permission, a violation of federal law, and falsely claiming their crypto fund was “licensed and regulated.” The complaint also alleges Ringgold promoted the ICO with a fake agency he created called the “Blockchain Exchange Commission,” using a graphic similar to the SEC’s seal and the same address as SEC headquarters.

Blockvest and Ringgold also allegedly misrepresented Blockvest’s connections to a well-known accounting firm, and continued their fraudulent conduct even after the National Futures Association (NFA) sent them a cease-and-desist letter to stop them from using the NFA’s seal and from making false claims about their status with that organization.

The Honorable Gonzalo P. Curiel, Judge of the U.S. District Court for the Southern District of California, issued an order freezing defendants’ assets and other emergency relief. The order also temporarily prohibits Blockvest and Ringgold from violating the antifraud provisions and securities registration provisions. A hearing is scheduled for Oct. 18, 2018, to consider continuing the asset freeze and issuance of a preliminary injunction.

“We allege that this ICO is using both the SEC seal and a made-up crypto regulatory authority to trick investors into believing the ICO was approved by regulators,” said Robert A. Cohen, Chief of the SEC Enforcement Division’s Cyber Unit. “The SEC does not endorse investment products and investors should be highly skeptical of any claims suggesting otherwise.”

The SEC’s Office of Investor Education and Advocacy and the U.S. Commodity Futures Trading Commission’s (CFTC) Office of Customer Education and Outreach have jointly issued an investor alert on the use of false claims regarding SEC and CFTC endorsements. Additional information about ICOs is available on and

The SEC’s complaint charges Blockvest and Ringgold with violating the antifraud and securities registration provisions of the federal securities laws. The complaint seeks injunctions, return of ill-gotten gains plus interest and penalties, and a bar against Ringgold to prohibit him from participating in offering any securities, including digital securities, in the future or making misrepresentations about regulatory approval.

The SEC’s investigation, which is continuing, is being conducted by David S. Brown and Brent W. Wilner and is being supervised by Diana K. Tani and Joseph G. Sansone of the Market Abuse Unit, John W. Berry of the Los Angeles Regional Office, and Mr. Cohen. Assisting the investigation is Robert Grasso of the Los Angeles Regional Office. The litigation is being conducted by Amy J. Longo of the Los Angeles Regional Office. The SEC appreciates the assistance of the CFTC and the NFA.

Previous ArticleNext Article

Leave a Reply

Commodities Trading Made Easy with Finrex 2302

Bitcoin btc coins in the shopping cart on the fina 2021 08 26 16 56 57 utc

Commodities trading has been around for centuries, with traders buying and selling goods like gold, silver, oil, and wheat. With the rise of technology, participating in the commodities market has become easier than ever.

If you are new to commodities trading, it is essential to do your research and understand the risks involved. Commodities’ prices can be volatile, and there is always the risk of losing money. However, you can minimize your losses and maximize your profits with the right strategy and risk management techniques. One platform that stands out is Finrex, a trading platform designed for active traders.

A Top-Class Commodities Trading Platform

Finrex offers unique features for pros, but it is also easy to use for beginners. The platform boasts zero fees and infinite liquidity, meaning you can trade without worrying about transaction fees or liquidity issues. Additionally, you can buy stocks on weekends, trade beyond pre-market and intraday, and act on breaking news over the weekend.

One of the best things about Finrex is that it allows you to explore a vast array of assets, including stocks, crypto, forex, and commodities. This means you can maximize your investment portfolio by diversifying across different asset classes.

Commodities trading can be challenging for new traders, but Finrex makes it easy. The platform provides access to real-time market data, allowing you to stay up to date on price movements and make informed trading decisions. You can also use technical analysis tools to identify trends and patterns in the market.

Finrex is secured with blockchain technology, ensuring your trading data is safe and secure. Additionally, the platform allows you to copy top investors, meaning you can learn from the best and replicate their trading strategies.

Maximize Trading Profits With Unique Features

One of the key benefits of trading commodities with Finrex is the ability to hedge against inflation. Commodities like gold and oil are often used as inflation hedges because their prices tend to rise when inflation is high. This means you can protect your portfolio from inflation by investing in commodities.

Another benefit of trading commodities with Finrex is the ability to profit from global events. For example, if there is a drought in a major wheat-producing region, the price of wheat may increase as the supply decreases. As a trader, you can profit by buying wheat futures or options.

Additionally, the platform allows you to explore vast assets, including commodities, stocks, crypto, and forex. You can also hedge against inflation and profit from global events by trading commodities with Finrex.

In conclusion, if you are looking for a platform to trade commodities, Finrex is an excellent choice. Its unique features and easy-to-use interface make it perfect for new and experienced traders. Whether you want to hedge against inflation or profit from global events, Finrex has everything you need to succeed in the commodities market.

So why wait? Sign up for Finrex today and start trading commodities like a pro!

Easy Launches The First Social Wallet on the Sui Layer 1 Blockchain 2367

The Easy Company (“Easy”), the creators of the world’s first social wallet, today announced the launch of its revolutionary mobile wallet on Sui Layer 1 blockchain, offering next-generation social experiences for the Sui community.

Available on iOS and Android, Easy’s innovative social wallet brings web3 to life by seamlessly merging the functionality of a traditional blockchain explorer with the engaging features of a social network. With real-time updates and a sleek, intuitive interface, users can easily connect with other Sui community members, exchange Sui tokens, and receive real-time updates on news across the Sui ecosystem.

Sui, which launched on mainnet on May 3rd, is a decentralized, proof-of-stake blockchain designed from the ground up to enable creators and developers to build experiences that cater to the next billion users in web3. Sui builds on important innovations in consensus algorithms and leverages novel data structures to deliver a high-performance, low-cost Layer 1.Easy will leverage the flexibility, scalability and speed of Sui to unlock new experiences in gaming, NFTs, and payments for web3 users.

“Easy provides a seamless way to send and receive Sui and to connect with other Sui users to discover what cool things are happening in the Sui ecosystem, now,” said Mike Dougherty, The Easy Company co-founder and CEO. “Our feature-rich mobile design is also important for users anywhere in the world who prefer mobile as their primary way to interact with web3.”

“Sui enables mainstream use cases like fast peer-to-peer payment solutions and social apps that require a new architecture at the protocol level to scale,” said Evan Cheng, Mysten Labs co-founder and CEO. “Easy’s beautiful, user-centric design takes advantage of the Sui protocol to unlock easier, safer, and more fun ways people can engage with web3, and each other.”

Designed and built by a team of consumer web and mobile experts from Airbnb, Disney, Apple, Microsoft, Google, Nuance and iHeartMedia, Easy is a new approach to wallet design, with a focus on user experience, safety and fun. Features and benefits for Sui users include:

  • Easy profile-to-profile payments are the fastest and safest way to send Sui to others.
  • Easy social profiles enable users to create an identity on Sui and curate what makes you special.
  • Easy social feed allows users to follow Sui friends and favorite communities to learn what is happening in the ecosystem, in real time. Users can also discover what games and apps you should be trying on Sui.
  • Easy is the first Sui wallet to enable users to earn Easy XP as they explore and engage with the Sui ecosystem.
  • All of this is built on a safe and beautifully-designed mobile wallet that helps users engage with the Sui community from wherever they are. Easy supports mobile notifications and Ledger integration.

Try out the first social mobile wallet for Sui, available today on iOS and Android, at

About The Easy Company

The Easy Company is on a mission to make web3 more accessible and safe. Their flagship application, Easy, is the first social wallet that combines beautiful, user-curated profiles, with engaging social discovery features, to help users navigate and discover the vibrant world of web3. For more information, please visit:

About Sui

Sui is the first Layer 1 blockchain designed from the ground up to enable creators and developers to build experiences that cater for the next billion users. Sui is horizontally scalable to support a wide range of dApp development with unrivaled speed at low cost. The first-of-its-kind platform brings users a general-purpose blockchain with high throughput, instant settlement speeds, rich on-chain assets, and user-friendly web3 experiences. Learn more:

About Mysten Labs

Mysten Labs is a team of leading distributed systems, programming languages, and cryptography experts whose founders were senior executives of Meta’s Novi Research and lead architects of the Diem blockchain and Move programming language. The mission of Mysten Labs is to create foundational infrastructure for web3. Learn more:

Tamed AI: a Neural Network-Based Trading Algorithm 2353

0 2023 05 09 11 19 39

Aiverse is a system for predicting the cryptocurrency market behavior with a profit margin coefficient starting from 61.23%. Thanks to the data analyzed for 20 years of global trading activity, Aiverse has no alternatives on the market. More than 70 successful investment companies and funds already use Aiverse in their trading activities.

The best traders, mathematicians, financiers, and AI experts took part in the development of the algorithm. Moreover, various technologies and tools such as Python, TensorFlow, Keras, NumPy, Pandas, Scikit-learn, and others were used to create it. Thanks to joint efforts multiplied by several years of intense development, Aiverse’s current capabilities allow it to provide accurate forecasts of cryptocurrency market behavior and adapt to changing market conditions.

Aiverse uses machine learning and AI techniques to analyze large amounts of crypto data, including prices, trading volumes, news headlines, technical indicators, and other factors. The system can also apply various data analysis techniques, such as classification, clustering, and regression analysis, to identify the most important factors affecting cryptocurrency market behavior. These techniques help identify hidden patterns and trends in the market. The end result is recommendations on how to trade cryptocurrencies, including the best time to buy and sell, as well as warnings about changes in the market.

1 2023 05 09 11 19 53

The main advantage of the algorithm is its artificial, self-learning neural network. It improves itself by analyzing executed trades and accumulates experience, which is also analyzed. Aiverse models nonlinear dependencies in multivariate data in cases where the relationship between input variables is difficult to analyze.

Aiverse has its official website, where you can find all the necessary information, statistics, rates for using the algorithm and their descriptions, and real-time trades and their history:

WiMi Builds A Next-gen Enterprise Data Management System WBM-SMEs Based on Blockchain, AI and IoT 2297

WiMi Hologram Cloud Inc. (“WiMi” or the “Company”), a leading global Hologram Augmented Reality (“AR”) Technology provider, today announced the development of a data management system for SMEs that combines blockchain, AI, and IoT technologies to help companies achieve efficient, collaborative and intelligent processing of data.

In the era of Web 3.0, SMEs are facing many challenges at the same time. For example, the current distributed data management platform is designed for SMEs. The data collaboration and linking ability between platforms is low, making it challenging to ensure data accuracy, integrity, and reliability for enterprise operations, thus leading to low data management efficiency and insufficient data utilization. In addition, data encryption protection and anti-tampering also need to be significantly improved. Most of the current data management in SMEs is based on a centralized server management model. This also makes data collaboration and data trust between two different enterprise partners problematic. The reason for centralized management of enterprise database infrastructure is also based on enterprise data security, privacy, and data extraction efficiency, and it is a necessity. Therefore, improving enterprise efficiency and productivity through data lightening and intelligent analysis and revitalizing static data is the core issue of enterprise data management. Based on this, WiMi develops a smart collaboration system for data management for SMEs so enterprises can efficiently link collaborative work in Web 3.0, and enterprise data can be efficiently utilized and processed anytime and anywhere.

WiMi uses blockchain, IoT, AI, and machine learning to propose a novel and efficient security framework for distributed SMEs with standardized processes, hierarchies, and task life cycles. The WBM-SMEs system is based on a blockchain with a permissionless network structure supporting the IoT, providing a solution for cross-chain platforms. The system also solves the authentication problem among lightweight partnership partners. For this purpose, the system deploys three different chain codes. It handles the daily information management of participating SMEs and exchanges between nodes, analyzing transaction details related to the exchange before saving the blockchain’s immutable storage. The system uses an AI artificial neural network based on machine learning to process and optimize the number of daily transactions of SMEs. As a result, the WBM-SMEs system consumes fewer resources in terms of computing power, network bandwidth, and data preservation-related aspects, increasing the speed of ledger management and optimization when exchanging information between different chains.

WiMi’s WBM-SMEs system offers several advantages in enterprise data and process management:

  • Efficient and analytical: The system provides efficient collaboration between customers and enterprises. For example, the interlink between manufacturing, production, and R&D includes data collection, management, and optimization. The system enables the collection, organization, and analysis of digital technology through artificial intelligence, helping companies to improve efficiency and provide detailed and favorable analysis.
  • Data security and transaction transparency: Standard processes and a secure, tamper-evident hierarchy guarantee transparency and authenticity of the information. The WBM-SMEs system, a distributed framework supporting blockchain and AI, provides a platform for users to design, create and deploy DApps to enable a transparent transaction environment. The system can automatically analyze and process the processes related to SMEs, especially transaction verification and validation, facilitating resource sharing between the two sides of partnership transactions.
  • Data and service lightweight: A distributed public permissionless network with blockchain integrated with AI technology provides a lightweight authentication mechanism that can reduce the cost of computing resources, network bandwidth, and storage.

The framework of the WBM-SMEs system is an AI-enabled, integrated blockchain divided into three distinct parts. The first is an IoT designed to collect, inspect and analyze SME-generated data or transactions. After proper checks, the system develops a schedule for data transmission through the wireless sensor network and manages daily transactions. Secondly, the AI part was split into two parts, the computational resource management and the neural network algorithms supporting the AI. A lightweight authentication is designed to provide an automated ability to grant access to each application request after a DApp has authenticated it. New SMEs or corresponding registrations are processed using a Blockchain Distributed Ledger Expert. The BDLE is responsible for initiating further registration validation after a complete analysis of the incoming request and allows creating of in-chain transactions and exchanging details. AI-enabled machine learning algorithms are used to manage and optimize the data. The process discards duplicate data/transactions and organizes logs sequentially while reducing computational resource consumption and preservation load. Third, blockchain permissionless public networks (peer-to-peer networks with interconnected nodes) are deployed with two communication chains: off-chain and on-chain. These two designed communication channels handle multiple transactions occurring in the chain, e.g., application requests, node-to-node activities, operational control, external communication, and information exchange, and internal transaction requests received on-chain for hidden processing.

On the other hand, off-chain communication handles all explicit activities (off-chain/cross-chain platforms). The main goal of the blockchain transaction processor is to schedule the list of transactions provided by external computation and execution. The computational load is reduced by calculating the hash of individual transactions in the WBM-SMEs system. And the InterPlanetary File Storage System is used to store a log of individual transactions in the chain in WBM-SMEs. The aim is to use this distributed immutable storage because it provides a book-keeping facility at the lowest cost compared to other distributed storage. The main reason for using it is that it allows scalability and cost-effective hierarchy in a distributed manner.

WiMi’s system has developed a classification mechanism for data management and optimization that checks for redundancy in SMEs’ data/transactions and extracts the original data while discarding duplicate items in a pre-validation process. This process facilitates computational resource management to reduce computational costs and submits validated data in the ledger for further processing. In the context of analytic ledgers, the implementation of ANN technology addresses data management, organization, and optimization. The technology can identify several new vulnerabilities in the distributed data management environment, such as data/transaction detection issues and unstable identification of files in different nodes. To analyze these problems, WiMi uses machine learning to build a data identification mechanism and associates it with ANN. It can efficiently extract models, detect, identify, and classify data files and transaction information from SMEs, and connect with ANN to schedule logs for processing while minimizing the risk of data capture/loss by providing a sizeable dimensional space for classification.

Today, enterprises are highly dependent on digital management. In the era of Web 3.0 and more efficient and robust links, SMEs face many challenges and new opportunities for their development. WiMi’s WBM-SMEs system combines blockchain, AI, and IoT technologies to create a data management system for SMEs that are encrypted, tamper-proof, secure, convenient, lightweight, and intelligent. The system will empower SMEs to enter the Web 3.0 era, improve efficiency and productivity, and provide enterprises with more efficient and intelligent digital management capabilities.

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

Triathon Releases Security Testing Product DeepFuzz to Escort Web3 Security 2585

Triathon announced the launch of its new smart contract security testing product, DeepFuzz, which can detect technical issues in smart contracts from multiple dimensions, helping blockchain developers discover vulnerabilities in advance and fix it in the first instance. The launch of DeepFuzz not only enhances its own ecosystem, but also fills the technology gap in the Web3 industry in terms of specialized and intelligent testing and auditing of smart contracts, adding significant strength to Web3 security.

According to NoneAge Technology’s statistics, there were 306 security incidents occurred worldwide in 2022, resulting in cumulative losses of $10.1 billion. Compared to 2021, there were 64 new Web3 security incidents with an increase of 26%. Among them, 136 security incidents happened in the six major tracks of the industry, including blockchain platforms, cross-chain bridges, wallets, exchanges, NFT, and DeFi, causing losses exceeding $4.021 billion. With the entry of many industry giants into the metaverse and NFT space, the scale of on-chain assets will continue to grow, and the number of Web3 security breaches may continue to soar.

When the current security problems in the Web3 industry come to reality, static scanning cannot detect security issues that may arise during program execution. Triathon’s DeepFuzz will simulate various situations and inputs to discover vulnerabilities and errors in the applications and programmes, thereby enhancing the security and reliability of Web3 smart contracts. At the same time, it can also test the performance and scalability of the smart contracts to ensure that it can handle large amounts of data and transactions. Leveraging DeepFuzz’s capability, the security issues will be detected from multiple dimensions, thus it helps to protect Web3 security and promote the healthy development of the Web3 industry.

As a community built by public chains, applications (testnets), and participants, Triathon verifies through different testing tasks from six aspects, including security, scalability, degree of decentralization, storage efficiency, processing power, and adaptability. It adopts a way to include the global community to participate in testing and auditing, and verifying according to the community’s interests and actual needs. The inclusion enables community users to participate in Web3 project testing and auditing, and work together to improve security awareness, solve security problems, and take security precautions.

Compared to other testing products such as Manticore, Fuzzit, MythX, and Echidna, which require high technical thresholds that ordinary users cannot participate in, DeepFuzz not only has the same level of testing results and dimensions but also greatly reduces the technical threshold of the testing environment. Users can start DeepFuzz testing without programming skills, simply by connecting their wallet and entering the contract address. DeepFuzz truly makes security testing as easy and convenient as playing a game.

In terms of product experience, Triathon DeepFuzz will continuously update the testing log during the testing process, showing the possible vulnerabilities and reasonable security recommendations so that users can better track and analyze test results, improving the overall efficiency of security testing and repairing. In addition, Triathon DeepFuzz will not collect or share user information, so users do not need to worry about data security and privacy. It also supports users to upload encrypted binary files to ensure the absolute security of smart contract information.

After security testing, users can export Triathon DeepFuzz’s comprehensive and systematic testing results and reports. Users can address security issues according to the test results one by one. In terms of testing costs, the cost of Triathon DeepFuzz are lower than other commercial test products in the market, making specialized smart contract security testing more affordable.

The release of DeepFuzz indicates that Triathon will continue to improve its core competitiveness in security detection and testing, strengthen the construction of security detection ecology, and commit to building a professional, intelligent, standardized and transparent Web3 security audit system. In the future, Triathon will continue to optimize the DeepFuzz system, deepen the security detection field, and work together with blockchain project teams and community users to build a better Web3 world.

About Triathon


Fluency’s Ground-Breaking CBDC Bridge Paves the Way for Central Banks to Solve Account or Token-based Debate 2689

Central banks are faced with the ongoing debates – Should retail and wholesale clearing and settlement of CBDC payments be separated?

Should the CBDC be account or token-based?

The differentiation doesn’t matter to the average citizen user. Their primary concern is to have a straightforward, secure, and all-encompassing solution that enables them to transfer value easily and affordably, regardless of their access to a bank or mobile/internet connectivity.

By bridging wholesale and retail CBDC, a single rich data format can be implemented, eliminating discrepancies that exist today across payment systems. As a result, interoperability between various types of CBDC and non-CBDCs will be easier if there is a seamless issuance layer covering wholesale and retail, account and token-based CBDCs conversion, ensuring the instant, secure, truly inclusive and smooth flow of cross-border and cross-asset payments.

Bridging account and token CBDCs for seamless wholesale-to-retail and retail-to-wholesale payments

Putting an end to the ongoing debates, Fluency has developed a ground-breaking solution capable of bridging token and account-based CBDCs, called Aureum Core.

“To meet the needs of retail markets, Central Banks are leaning towards an account ledger-based CBDC model to eliminate limitations of token-based systems while also exploring the use of a “bridge” to convert wholesale tokens to and from retail account payments deployed on the blockchain,” said Fluency.

Token-based platforms are not specifically designed for a so-called retail CBDC

Although there have been numerous retail CBDC solutions conducted over the last few years, none of the token-based approaches has been able to fully resolve the challenges and limitations associated with reliably providing secure and continuous dual offline transactions to retail users while avoiding double spending issues making it clear that the token-based platforms are not specifically designed for a so-called retail CBDC (Riksbank Phase 2 e-krona project).

Fluency’s solution provides a bridge to which wholesale token CBDCs could integrate by deploying a seamless conversion bridge to account retail CBDC enabling;

  • 24/7/365 online and offline capability (when both payee and payer are offline without an internet/mobile connection)
  • consecutive transactions (both online and offline)
  • no double spending issues
  • enhanced privacy features

Offline functionality is mandatory for intermediaries that will distribute CBDC

According to the digital euro progress report published by the European Central Bank on 24 April 2023, the provision of offline payments as a core service will be mandatory for intermediaries that distribute CBDC.

Fluency Aureum is currently the only CBDC technology that is able to facilitate dual offline (when both payee and payer are offline without an internet/mobile connection) consecutive payments without the fear of double spending issues that a token CBDC presents due to its account ledger-stored nature.

Inga Mullins, CEO at Fluency, said: “Specifically for CBDCs, our solution offers central banks and those within the financial ecosystem a straightforward means of connecting their internal networks with all other payment systems across the globe via a single issuance layer, thereby ensuring swift and seamless domestic and cross-border transactions.

Adopting an innovative DLT-stored account-based CBDC such as Aureum eliminates the most critical security risks within a token-based solution while enabling a single issuance layer to provide a smooth and instant wholesale token exchange to retail account-based CBDC. We believe our account ledger-based CBDC solution can offer a seamless CBDC transaction flow between wholesale and retail on a highly scalable model”.

About Fluency

Fluency is an appointed member of the world’s key CBDC boards working directly with the major central banks and governments on their CBDC design features, implementation strategy and policy for 23 countries globally including the European Central Bank and the Bank of England.