In a move that
perhaps epitomizes the existing market climate of Bitcoin and altcoins,
the US Federal Government seized the domain name owned by BTC-e.
After the news headlines the other day that Alex Vinnik have been arrested
amid allegations he had laundered nearly $4 bln in Bitcoin through the
website, the continuing future of the website was unclear. After the
excess revelation that the stolen Mt. Gox funds had likely been
laundered by the website also surfaced, the long run was much more
dimmed.
“I'll Be Back”
Nevertheless, the website had told users so it could be back and fully functional within five to 10 days
of the arrest of its infamous leader. However, funds were being kept by
the device and weren't readily available for withdrawal.
The
recent seizure of the domain name has given rise to strong concerns
that the website will soon be permanently (or at the very least
indefinitely) closed.
The effect funds related to the
numerous accounts on the website continue to be up for question. The
whole process has been confusion and bizarre and has certainly hurt
their state Bitcoin and cryptocurrencies generally.
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