ICO Scam was Only a Prank, XTB Leaves Turkey: Best of the Week

Aaand it's gone...

Yassin Hankir absconded with approximately $50 million raised from 35,000 investors by the initial coin offering of his project, Savedroid. The official website was replaced with a taunting message.

The company's office was found to have been emptied, and Hankir wrote a post on Twitter saying "Thanks guys! Over and out..."

Or maybe not?

In a very strange turn of events, Hankir reneged on his escape and now claims that the whole fraud was actually a prank.

The CEO explains in a YouTube video that he was raising awareness of scams. It would be an understatement to say that people are unimpressed.

O-SYSTEMS bought out

O-SYSTEMS is a provider of brokerage software, mainly for binary options companies. It is based in Bulgaria.

Last week it was purchased by an unnamed Hong Kong-based buyer in a deal signed on Friday the 12th of April.

EOS ICO raises billions

EOS is a competitor of Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term, with a uniquely-organised ICO that will last for almost a year. So far that ICO has raised more than $2 billion.

EOS recently partnered with Bitfinex to launch a new decentralised cryptocurrency exchange.

NEO launches Switcheo

Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term company NEO's new decentralised cryptocurrency exchange has gone live after raising $8.5 million in its ICO.

There are a few decentralised exchanges already operational on the Ethereum blockchain, but Switcheo is the first on the NEO blockchain. It has already become the fourth largest in the world.

Equiti licensed in Kenya

Equiti Group has acquired a license to carry out foreign exchange activities in the African nation of Kenya, making it first brokerage to do so.

CEO Iskandar Najjar said: “We are excited to make our debut in Africa through Kenya, which is the most well-regulated, largest and most advanced economy in East Africa.”

Analysis: Russia, Telegram, and cryptocurrency

Russia has begun to block access to the well-publicised and massive initial coin offering of messaging giant Telegram. The founder of the company says that Russians account for roughly 7% of its worldwide user base.

So far the ban has not been applied effectively, but if it does start to bite what effect will the ban have on the cryptocurrency industry in the country?

Analysis: Backpage and Bitfinex

Backpage is an online personal ad platform, which has gained a reputation for advertising prostitution. Bitfinex is a major cryptocurrency exchange which has been suspected of shady links in the past.

There are rumours that the two are connected...

XTB to leave Turkey

The Turkish authorities have put in place significant limitations on the FX industry, and in response, Polish FX brokerage XTB has decided to liquidate its subsidiary in the country.

In order to do this XTB will have to write off ‎the value of the shares of its Turkish unit ($2.55 million) and the value of its intangible assets (approximately $1.47 million).‎