BTER Soon Resuming USD, CNY and Some Altcoin Withdrawals but May Sell BTER.Com

BTER said it will soon be resuming fiat and some altcoin withdrawals, which it had temporarily halted as a precaution after it lost 7,170 BTC ($1.7 million) in a recent hacking. 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 tweeted:

CNY and USD withdrawals will be enabled first in these days and the crypto-coins (NXT etc)will be handled later when we make sure it's safe. — Bter.com Exchange (@btercom) February 18, 2015

The exchange wrote on its Weibo page that the first coins to be made available for withdrawal are nxt, counterparty (XCP) and recently added tilecoin (XTC).

However, the financial standing of the exchange has been called further into question after it suggested that it is looking to liquidate assets, including its BTER.com domain, in order to compensate users:

We are seeking all ways to compensate our users including selling https://t.co/nsX4sStHiR (Debits & funds not included): admin@mail.bter.com — Bter.com Exchange (@btercom) February 18, 2015

Last year, the China-based exchange initially lost over 50 million of the nxt cryptocurrency, then worth $1.65 million, in another hacking attack. The hacker returned some of the funds after negotiations.

It has also indicated that it continues to monitor the movement of the stolen bitcoins through the blockchain, and its bounty of 720 BTC for their recovery remains on the table.