Day 16 - BTC-e will refund the account owners via ICO with a BTCE tokensteemCreated with Sketch.

in #btce4 years ago (edited)

Great news!

BTC-e just posted a message (in Russian).

In summary, BTC-e owns 55% of the exchange balance, and they say that they will refund each account owner with 45% of the account balance, with a new BTCE token, which will be given in an ICO. The value of a BTCE will be 1 USD.

The message is a little bit cryptic, but what's important is that they're communicating back and, according their messages, putting lot of effort to get the service back online.

Here's the link to their original message:

Here's the translation from Russian of the original message:

Screen Shot 2017-08-09 at 7.11.23 AM.png

Update5! Important! 08/09/2017

Exit from the current situation with the arrested Fiat:

  1. Over the past 14 days, we have been struggling for your funds, managed to gain control of 55% of the funds (depends on the course), the remaining 45% are arrested funds, most in fiat. As the arrest is withdrawn from the accounts, the amount will decrease.

  2. What version of the way out of the current situation we see:
    2.1. Work under the current BTC-e brand is not possible due to unresolved issues from the Office of Financial Crimes of the US Treasury.
    2.2. At the moment, we are negotiating with a group of investors (an investment company), about buying and prompt launch of the service and repaying debts to customers. Further, the process of repayment of debt obligations will be described in more detail.
    2.3. After, As we transfer all the balance sheets of the investment company, the balances will be recalculated.
    2.4. The recounting procedure, taking into account the available 55% of funds:
    2.4.1. All liabilities for fiat (USD, EUR, RUR) will be transferred to BTE tokens (1 BTE is 1 USD) at the exchange rate on the date of conversion. Probably, for more operative closing of promissory notes, ICO will be held on BTE tokens.
    2.4.2. If you have on the balance the amount in koin, then you will be written off 45% of the balance of coins and credited with 45% of BTE (1 BTE is 1 USD). At the exchange rate on the day of conversion.
    2.4.3. If you have a balance in BTE, then you will be credited with 45% in koin (the amount will be divided into 7 different coins equally BTC, LTC, NMC, NVC, PPC, ETH, DSH) and write off the amount of 45% in BTE.
    2.4.4. Upon all recalculations, all users will have the opportunity to withdraw 55% of their funds from the system.
    2.5. The investment company works in compliance with KYC, AML and the licenses required for this activity, so all users will need to undergo verification.
    2.6. Tentative start dates end of August.

  3. All debt obligations will be closed primarily from operating income from the investment company's commission, as well as from the funds we plan to sue from those who illegally arrested them.

The closing of the debt will be based on the principle of buying BTE tokens from the market.

The next update will provide more details on the procedure for accessing information on your balance sheet and when these funds can be withdrawn.

From the BTC-e team we officially inform that all the funds that were in the reserve fund (including all our income) were transferred to pay off the debts.

PS Warning! The cases of posting fake links on allegedly our new domain have become more frequent. All official information about our service is placed only in our twitter and from our official account on the forum.

Sincerely, BTC-e team

Good luck everyone who have a balance on the exchange.

Resteem and follow me for more updates!

Federico Ulfo

fed-avatar.png Creative Software Engineer - eating Bitcoin and Cereal for breakfast


I agree with the decision on fiat, but it is not clear why, in the light of past announcements, they were going to cut down the crypto?

Do not agree with you, but do not see where 10% of coins go + all left fiat?!

Yeah, not sure why they're cutting that 10% out of the 55%, but again better 45% than nothing... I'm surprised they didn't decide to run for the hill and hide with our money. Either way, it looks like the people who are running the research of the MtGox money are legit and they will found the btc-e money as well... so expect more exchanges to be busted because of money laundering...

cross fingers for polo and many other exchanges!