Bitcoin Exchange BTC-e Cites Political Motives Behind Crackdown

News and Analysis

BTC-e operators have made an announcement confirming the platform is preparing for re-launch.

In their update at Bitcointalk, the spokespersons for the exchange wrote:

“Currently the process of transferring digital resources to the investment company is underway. The company is preparing for re-launch. As announced earlier, users will be able to withdraw 55% of their assets after the launch.”

The exchange has also stated that it sees political motives and pressure from the U.S. authorities behind the exchange’s shutdown last month.

BTC-e was the target of a law enforcement operation in late July, during which one of its alleged operators was arrested in Greece. U.S. authorities later seized BTC-e’s web domain and unsealed a 21-count indictment, accusing Russian national Alexander Vinnik and BTC-e of facilitating the laundering of billions of dollars via bitcoin, along with a $110 million fine.

Yet days after the arrest, a forum account long associated with BTC-e posted a pledge to relaunch the exchange, promising to return funds to those who were held accounts at the time of the shutdown.

The next statement is scheduled for August 30th, with daily updates promised to published thereafter.

The latest BTC-e update was published on August 14th, which featured the new plan of refunding the investors who incurred losses.

Found a typo? Highlight text and press CTRL+ENTER

Subscribe to our Newsletter


Related posts