Troubled BTC-e cryptoturrency exchange relaunches limited operations

Troubled BTC-e cryptoturrency exchange relaunches limited operations

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Major cryptocurrency exchange BTC-e, which was shut down and seized by US authorities in August over suspicions of money laundering and criminal activities, has relaunched limited operations.

It has registered a new web address: btc-e.nz, which, according to reports in some media is not accessible for clients in some parts of the world like US who have to use a VPN service instead.

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For now clients can only check their balances and make modifications to their security settings. From September 2 clients could also withdraw 55% of their funds, as per a post in the news section on the new site.

According to the same publication, full operations in the legal field of AML, KYC , the necessary licenses with biddings (web, api) and the possibility of input and output (Fiat, Coins, Codes), is planned by September 15, 2017.

We remind you that BTC-e, one of the major and longest existing bitcoin exchanges went offline in the end of July. For days it was displaying a technical maintenance message, until over the weekend the message was changed with a notice that the site was seized by US law enforcement agencies.

Meanwhile, the Russian Alexander Vinnik was arrested in Greece and indicted by a US Grand Jury for the laundering of $4 billion of ill-gotten gains through the BTC-e platform, of which it allegedly is the owner or chief administrator.

BTC-e was one of the major bitcoin exchanges and used to handle around 2.5% of all Bitcoin exchange volume.

In addition to the standard trading of bitcoin, as well as litecoin, namecoin, novacoin, peercoin, dash and ethereum and US Dollar, euro and Russian ruble, BTC-e was offering “bitcoin betting” which appeared to be some sort of a binary option on the Bitcoin and PAMM services, similar to that of “regular” forex brokers.

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