Bitcoin Exchange BTC-e Promises 'Daily' Updates During Relaunch Attempt

Bitcoin exchange BTC-e is planning to release more updates about its recovery efforts weeks after a stunning crackdown by US authorities.

As previously reported by CoinDesk, BTC-e was the target of a law enforcement operation in late July, during which one of its alleged operators was arrested in Greece. US authorities later seized BTC-e's Web domain and unsealed a 21-count indictment, accusing Russian national Alexander Vinnik and BTC-e of facilitating the laundering of billions of dollars via bitcoin, along with a $110 million fine.

Yet days after the arrest, a forum account long associated with BTC-e posted a pledge to relaunch the exchange, promising to return funds to those who were held accounts at the time of the shutdown. BTC-e has since announced it plans to issue a debt token as part of that repayment effort.

Now, according to new update posted on Bitcoin Talk, BTC-e is in the process of "transferring digital resources to an investment company" that will support the planned exchange relaunch.

In a translated statement, BTC-e reiterated its promise that users "will be able to withdraw 55% of the funds" when the exchange is brought online. BTC-e indicated that it would move to publish more frequent updates after August 31, with the next update expected on August 30.

The account also answered a number of queries, perhaps most notably to one about the legal effort launched by US prosecutors.

"At the moment, we have not received official documents from the United States. All that is at the moment is an order," it stated.

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