VIVE Corporation. PTE, LTC. (“VIVE”), having confirmed the existence of problems between the services related to its ONELLET virtual currency wallet service, has been forced to suspend ONELLET services for a maximum of 4 months or more depending on the ingratiation while VIVE recheck and confirm the users KYC identity and enhances compliance process with struck regulation.
In addition, due to operational problems, VIVE has also confirmed that some of our users from other countries are either members of organized unethical behaviors involved with suspicious crime groups, or parties that are affiliated with such, and we have also received many reports of unreasonable demands made through our services.
We have further enhanced the law and regulation to prevent personal and company reputation.
Any misconduct, false information, message threat, call threat or rumor spread by not having evidence or
misinformation through the community members will also be suspend and proceed with legal actions for personal and company honorable damage.
All the communication will be conduct legally through assigned law firm. The company have assigned Anderson Mōri as our legal firm.
Further details and contact process will be announced, and recovery actions preparation will be conducted.
As VIVE’s KYC efforts with respect to the markets of other nations were insufficient, we are preparing to request the assistance of foreign attorney’s offices in conducting further KYC checks.
Furthermore, considering the defamation VIVE received with respect to its services, we have requested investigations by a team of defenses lawyers as described and police agencies.
We apologize for the inconvenience this will cause our existing users, but the service suspension period will last at least 4 months or more, and during that time the service will be inoperable.
We hope your understanding as we work to make ONELLET a secure system our users will be able to use for a long period of time.
Considering Our ONELLET Suspension, We Would Like to Report on Our Various DAAPS services
- About the CXCard
Although we had planned to launch the CXcard in March, due to the ONELLET suspension we will be delaying the provision of this resource.
CXCOIN is community tokens that allow user to be used only as tokens to play in DAPP or used as potential tokens for the game, and others, all the users are aware the risks and the future of token value is not guarantee, it is not company responsible for any decisions which clear stated at beginning of ICO, IEO time.
ONELLET is wallet solution required for deposit amount, if any tokens or crypto assets is being used for any DAPP or game as being used for the usage of DAPP, in any game, it is users own responsible to play the game within the DAPP and risk is based on users own ability and responsibility.
- About Moon Pay and Vtraders
As these are external links, they may be used by directly accessing them in your browser.
- About Treasure Box
Treasure Box will be suspended but we will be advancing the following matters.
– We will be changing our systems and preparing to enhance our marketing in various nations in Asia.
- As we are now able to satisfy the legal conditions of Japanese law, we will form an advisory contract in order to
- Establish a new service under a different corporation within Japan. Further new entity of corporation will be announced.
- Further system operations and modification will be announced and system migration along with data and
Further details or change may occur to finalized future new operations and methods will be release accordingly.
Some ideas and major changes of Treasure Box after the Suspension Period
- Saturation Suspension
– As we believe that having numbers of days determined in advance helps cause saturation, we will be switching to a system where the number of days until resale will be controlled by demand.
- By placing a price on the items used for resale themselves, we will free ourselves from the notion that sales must be completed at all costs.
As a result, we will be restarting the service after having further integrated the items exchanged with the experience of exchanging them.
- About Our Operational System
– In order to advance our collaborations in various fields, we will rebuild our business from our team compositions upward and ensure that we no longer succumb to resource deficiencies.
- We will enhance our hiring efforts to enhance our management system.
3. About Our Functions
- We will move away from a purchasing system.
- To expand into the mass market, we will improve our wallet functions.
By restarting in a state where we have resolved our issues while keeping the above points in mind, VIVE will propel ourselves forward in this business in order to firmly establish an image of our company that tells existing users and future new users that they can enjoy our services without worry.
Our corresponding will be going communication with legal law firm with further update and announcement.
At the moment we are not allowed to direct communicate with members and all the request and announcement will be conducted through public press release to be official and authentic.
VIVE Corporation PTE Ltd
March 22, 2021
Arnav Reddy was an iconic writer known for his science-fiction and high fantasy short stories. He was raised in a household in which the exploration of article ideas and fact-finding was encouraged. He became one of the most decorated writers in the publishing fraternity, winning multiple prizes for his excellent writing.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Times of Chennai journalist was involved in the writing and production of this article.