Saturday, 29 July 2017

Using .com is not safe: US Government Seizes Russian Bitcoin Exchange BTC-e Domain

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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