BTC-e Clients Start Organising as US Authorities Take Over Domain
- btc-e.com now displays a message from American law agencies that the domain has been seized.
Bad news for clients of BTC-E that were still holding on to hope last week that the arrest of Alexander Vinnik would not permanently affect the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term 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. The company's website, that was previously displaying a down for maintenance message, has now been taken over by US criminal authorities.
Learn how to buy Bitcoin and Ethereum safely with our simple guide!
btc-e.com now
btc-e.com before
Similar to when dark web, file sharing and other websites are taken over by the authorities, all the agencies involved now proudly display their seals on the domain. The same agencies, including the Secret Service, Homeland Security, FBI and IRS, were quick to take the credit last week when it was announced that btc-e faces a $110 million penalty for violating US anti money laundering laws.
Clients organize
Meanwhile, at least one group of clients have already begun organizing in order to try and protect their missing funds. Called the BTC-E Disputed Claims Group, the client organization might "try to arrange one or several class action lawsuits against these individuals and entities."
In the past when US authorities got their hands on some 'illegal' venture's Bitcoin wallets, the funds were confiscated and auctioned off - not returned to its original owners. As such it is not at all clear if a process for legitimate BTC-E traders to claim back their funds will be created unless the courts force the agency's hand - which would require a law suit in the US.
Bad news for clients of BTC-E that were still holding on to hope last week that the arrest of Alexander Vinnik would not permanently affect the Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term 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. The company's website, that was previously displaying a down for maintenance message, has now been taken over by US criminal authorities.
Learn how to buy Bitcoin and Ethereum safely with our simple guide!
btc-e.com now
btc-e.com before
Similar to when dark web, file sharing and other websites are taken over by the authorities, all the agencies involved now proudly display their seals on the domain. The same agencies, including the Secret Service, Homeland Security, FBI and IRS, were quick to take the credit last week when it was announced that btc-e faces a $110 million penalty for violating US anti money laundering laws.
Clients organize
Meanwhile, at least one group of clients have already begun organizing in order to try and protect their missing funds. Called the BTC-E Disputed Claims Group, the client organization might "try to arrange one or several class action lawsuits against these individuals and entities."
In the past when US authorities got their hands on some 'illegal' venture's Bitcoin wallets, the funds were confiscated and auctioned off - not returned to its original owners. As such it is not at all clear if a process for legitimate BTC-E traders to claim back their funds will be created unless the courts force the agency's hand - which would require a law suit in the US.