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 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 Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term with an interest-free loan of 1,000 BTC in exchange for equity in the company.

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 Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain Read this Term.

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.