Half-life: BTC-e tries to restore its business and keeps posting progress reports

At the end of July 2017, BTC-e, a big cryptocurrency exchange, suddenly went offline, and at the same time Alexander Vinnik, who was allegedly involved in money laundering, was arrested in Greece by the U.S. authorities’ request. Both share Russian origins. Since then, the BTC-e employees always rejected speculations that these two events might be connected, however, it soon became clear that this digital currency exchange has some big problems with the United States regulations too, even if Vinnik’s arrest was not connected.

Since then, there have been some posts on the old-school Bitcointalk.org forum, which the representatives of the exchange chose for some reason as the primary means of communications with the public. Russian posts, often with no translation, sometimes the style was sloppy, however, in this recent post our website is about to retell, the author seems to have almost fully regained confidence.

The owners of BTC-e tell that 55% of funds is now available, as they’ve mentioned before; the users might get them at the end of August, more precise date will become available to them on 30th of August, however contradictory that sounds; a team of lawyers is struggling to return the fiat money sums, all 55% that is currently available are only altcoins; and they plan to re-open the platform from the 1st of September.

What about other 45% of funds? They, BTC-e answers, will be converted to tokens, and then they either can be sold on the market or the user can wait before the BTC-e will buy them at a nominal price. They explain that the payback sum doesn’t change as the price of Bitcoin grows is “be cause” (sic) they haven’t scheduled the conversion date yet.

Good news here is that they have found an investor! They intended to do so to ease the restoration. However, they did not specify the exact company.

BTC-e is aware that while the exchange was in the coma, the segregation of Bitcoin happened and Bitcoin Cash arrived. The BTC-e representatives claim they will give an equal sum of Bitcoin Cash to all Bitcoin holders, 1:1.

The employees of this cryptocurrency exchange prefer not to tell everything about the collision with FBI, however, they pointed out that the servers that were confiscated were ciphered (yes, like it’s going to stop one of the most powerful law enforcement organizations in the world) and showed the signs of nervousness: in their FAQ, the only answer with an exclamation mark was to the question “Are you planning to further work with the U.S. residents?”: “No!”.