BTER Back Online, Gets Emergency Loan from Jua.com

Trading on BTER has resumed, as have withdrawals for several coins, after nearly a month offline following a hacking costing

Trading on BTER has resumed, as have withdrawals for several coins, after nearly a month offline following a hacking costing it 7,170 BTC ($1.7 million).

BTER.com had even considered putting itself up for sale in order to remain afloat. Instead, it has been reportedly offered a lifeline by jua.com, which has provided the exchange with an interest-free loan of 1,000 BTC in exchange for equity in the company.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Suggested articles

Huobi DM Launches Real-Time Settlement for BTC FuturesGo to article >>

According to its website, jua.com is the “most professional virtual currency bank.” It says to offer steady income from interest on digital currency deposits. As part of the partnership, jua.com will now be handling BTER’s cold wallet security. Jua.com is also helping in the previously announced project to rework its backend.

Jua.com also runs BW.com, the third largest mining pool with 12% of the network hashrate.

BTER says that it will be absorbing the loss, using future profits to eventually reimburse users, and seeking additional financing to expedite the process. It also announced that it is waiving all trading fees for one month in appreciation of its supportive user base.

Got a news tip? Let Us Know