BTC-e issues debt tokens for relaunch

Bitcoin Watch Shop

According to a contribution in the Bitcoin Talk forum, BTC-e wants to appear under a new name and issue a token, which stands as a promissory note for the closure of the platform. This step is reminiscent of the handling of a hacking attack by the stock exchange Bitfinex.

The Russian stock market was one of the most secret exchanges until it was closed by the US authorities at the end of last month. After the arrest of an alleged co-operator, US authorities captured more than $ 100 million in fines and lied the BTC-e side.

The remaining employees are now communicating with the community through a long-standing Bitcoin Talk account and have since announced to return. Part of money is also to be dived again.

According to current statements from BTC-e, one should again get control over 55 percent of the funds, the rest should have been confiscated.

An anonymous employee should have confirmed that the platform is working to reboot. With the help of a group of unknown investors, the platform will be rebuilt under a new name. Due to unresolved problems with the US Treasury, it is no longer possible to continue the name BTC-e. The stock market promised that by the end of August the rebranding should begin, further milestones are planned.

BTC-e also announced the issuance of a debt code. The customers could thus offset their debts, as the exchange would buy back the tokens in the future. The move is similar to the BFX tokens issued last summer by the Bitfinex stock market.

The exchange explained the following:

“All debts in Fiat (USD, EUR, RUR) are transferred into BTE tokens (1 BTE is 1 USD) at the rate of the respective conversion date. In order to close operationally more debt certificates, an ICO is likely to be held for the BTE tokens. BTE will receive seven different cryptos for 45 percent of them (BTC, LTC, NMC, NVC, PPC, ETH, DSH). “

To get the tokens, users have to verify their identities, according to the anonymous investor’s information. “The investment company works with know-your-customer and anti-money laundering licenses, so it is necessary for every customer to go through this process,” it says.