Embattled Bitcoin Exchange BTC-E Back Online, with Limited Availability

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Earlier this summer, as reported by CCN, BTC-e’s domain was seized by authorities, shortly after a Russian national named Alexander Vinnik was arrested in Greece for alleged money laundering violations. At the time it was believed he was a BTC-e admin, but the exchange’s Bitcointalk account soon stated he was never an employee there, and started to post a series of updates on the situation. It was also revealed that the exchange had been fined for $110 million.

The admin behind BTC-e’s Bticointalk account soon revealed the exchange has control over 55% of user funds, and that it was going to reimburse users using Bitfinex-like tokens. The exchange’s latest update pointed to a relaunch in September, and to daily updates.

Now, the exchange recently tweeted out that it’s back online, on the https://btc-e.nz/ domain.

According to reports, users from various parts of the world, including the U.S., are seemingly unable to access the new domain. For now, users are apparently only able to check their account balances and post messages on the exchange’s chat box.

At press time, BTC-e’s page has an update telling users to review their security settings as, since data has been seized, there’s a risk it has been compromised. The exchange advises users to not only get a new password, but also to change their two-factor authentication key, and to review the list of IPs used to access their accounts. At press time, accounting to the website’s statistics, there are 2895 users logged on to BTC-e.

Recently, the exchange also published a roadmap through its Bitcointalk account, that details how its service will be relaunched.

BTC-E’s Bitcoin Exchange Relaunch

According to the update, BTC-e will relaunch its service in three different stages. In the first one, it will transfer user information to a new unnamed company, in “full compliance with the European directives on personal data and in compliance with European legislation in this field.” The transfer is to be completed by September 15.

The second stage will involve a previously mentioned unnamed financial investment firm to restructure the exchange’s digital assets, and begin registering the transferred user data. Finally, in the third stage, the financial investment firm will “audit and register personal data in accordance with AML laws and KYC identification procedures.”

The admin behind BTC-e’s account went on to add that users will be given the chance to “check the integrity of the digital balance” in their accounts, and to change their security settings. Per its deadline, users are now able to login and check their balance (it was schedule to “before 02.09.2017”)

A support team will also be available to help out users. The admin stated:

“The helpdesk system will be operated by the licensed financial company after the start of the digital data transfer procedure. After starting the service from the financial company and in case you have difficulties with entering the account or there are inaccuracies in the balance, you can get help and answers through the ticket system.”

Featured image from Shutterstock.

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Francisco is a cryptocurrency writer who's in love with technology and focuses on helping people see the value digital currencies have. Twitter: https://twitter.com/FranciscoMemor