Posts Tagged ‘Bter’

The BTER Exchange Plans Return To Full Operation

2, Mar 2015

bter-exchange-to-be-back-online

After getting hacked last month and having over 7000 Bitcoins stollen the Chinese crypto currency exchange BTER apparently plans to get back to full operation instead of closing down. The website has been back online for a while already allowing users to withdraw some of the crypto coins they had before the hack, but it seems that the service operators do plan on fixing the security problems by rebuilding their backend and returning to normal operation and enabling the trading again. There are still not a lot of details as this was just announced on their official Twitter account, but probably more details will be available soon. The question that remains however is if they will be able to get their users back as this was not the first time the exchange suffered a serious breach in security resulting in loss of users coins.

– You might want to take a look at Bter’s website for additional details…

Chinese Crypto Exchange Bter Has Been Hacked

15, Feb 2015

bter-crypto-exchange-hacked

The Chinese crypto currency exchange Bter has apparently been hacked and is currently down. Th website notes that 7170 BTC apparently got stolen from the exchange’s cold wallet and they are offering 720 BTC bounty giving the transaction Id for the stolen coins. It seems that this could be the end of Bter as this is not the first time that the crypto currency exchange is having such problems getting hacked and coins stolen. It is not yet clear if what will happen with the exchange this time, after a few months ago they were able to get back on track after getting hacked and a lot of NXT coins getting stolen. Even if they manage to get back online again after this issue it will be hard to earn back the trust of the users and we would still recommend to avoid using it in this case anyway.

– You might want to take a look at Bter’s website for additional details…

Bitcoin Price Drops Again as More Chinese Exchanges Stop Accepting Deposits

10, Apr 2014

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As more Chinese crypt currencies announce they are stopping to accept cash deposits as being requested by their banks and payment processors the Bitcoin exchange rate and that of other crypto currencies has dropped again today down to almost $400 USD. The new exchanges that join the ranks of the ones that already announced that they are stopping to accept deposits in Chinese Yuan from users are BTCTrade and BTC100 that have released official announcements today. Huobi, another exchange that we mentioned last that has also come out with official announcement that they are also stopping deposits in cash. And with April 15th coming in just a few days you can expect that the remaining Chinese exchanges will also follow in these steps. There is still no official announcement coming out from PBOC, though exchanges are being notified by their banks and payment processors. If you were still doubting about the ruling for banks and payment processors to stop servicing the accounts of 15 of the top crypto exchanges in China, then you should probably stop now as it seems clear that this is happening already.

Do note that China is not banning Bitcoin and crypto currencies and most likely crypto currency exchanges will find another way of continuing to do business and trade coins for cash. All that China is doing is trying to limit the crypto to cash exchanges, and all of the exchanges will continue to trade crypto-crypto exchange pairs without problems. And hopefully they will soon find an alternative solution for cash to be used to buy and sell crypto currencies, so that the Bitcoin markets will finally calm down a bit and instead of going down will stabilize and may start going up. That is unless of course China decides to actually ban the crypto currencies in a month or two for example as that is not entirely impossible as well.


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