BTC-e Will Distribute 45% of Account Holdings as BTE Tokens

BTC-e has revealed that it is in possession of 55% percent of its customers’ funds, according to a post on (English translation posted here).

BTC-e states that “over the past 14 days, we have been struggling for your funds, [and have] managed to gain control of 55% of the funds… the remaining 45% are arrested funds, most in fiat.”

BTC-e Plans to Distribute BTE Tokens During Late August

The post outlines a tentative plan for its distribution of BTE tokens, with an approximate starting date of late August. ”BTC-e claims to be “negotiating with a group of investors… about buying and prompt launch of the service and repaying debts to customers.”

“All liabilities for fiat (USD, EUR, RUR) will be transferred to BTE tokens (1 BTE is 1 USD) at the exchange rate on the date of conversion. Probably… [an] ICO will be held on BTE tokens… If you have on the balance the amount in [cryptocurrency], then you will be written off 45% of the balance of coins and credited with 45% of BTE (1 BTE is 1 USD). At the exchange rate on the day of conversion.”

BTC-e adds that “the investment company works in compliance with KYC, AML and the licenses required for this activity, so all users will need to undergo verification.”



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