Post
Topic
Board Bitcoin Discussion
Re: BTC-e.com down ! Police detains the owner .
by
marky89
on 10/08/2017, 07:38:29 UTC
I'm having trouble comprehending the Google translation of BTC-e's announcements.  What it sounds like they're saying is that the U.S. confiscated the dollars outright, and therefore BTC-e will "socialize" the loss by redistributing my alt-coins to people whose dollars were stolen...  Please tell me I'm misunderstanding this!

And if I am mistaken, then should I just wait until BTC-e eventually resurfaces (hopefully), at which point I will be free to access and transfer my alt-coins if I so choose?  (Or am I really not getting the point, and my alt-coins are truly gone forever?)

They didn't say the U.S. government confiscated the dollars outright. Okpay announced on its blog that Mayzus Financial (its parent company) froze accounts that it believed were connected to BTC-e (and forwarded account information to law enforcement). BTC-e confirmed this in one of their updates. Yes, the losses are being socialized. But coin holders are in a better position than fiat holders, from the looks of it.

"Free access" seems contingent upon identity verification...