BTC-E upd: no withdrawal on Sept 1

Bitcoin exchange BTC-e makes an announcement concerning its revival
31 August 2017   1207

Bitcoin exchange BTC-e has gone offline this July due to the Alexander Vinnik case. On 25th of July, the FBI agents seized all the equipment from their data centre. On Saturday evening, July 29th, all the coins were withdrawn by one transaction. The total withdrawn amount was 485,705.4597502 ETH, which at the current market rate is almost $95 million. 

Since then, the exchange team has made several announcement via concerning its plans for the company's revival. 

BTC-e update BTC-e update

Now, BTC-e’s latest announcement focuses on an update on August 30th and indicates it will publish daily updates after August 31st. Thus, according to the team, a process of transferring digital resources to an unnamed investment company is currently going on, so as to prepare these resources for its relaunch.

The company claims that he relaunch will happen over a several week-period, occurring in three stages:

  1. User information will be transferred to an as-yet-unnamed company "in full compliance with the European directives on personal data and in compliance with European legislation in this field". This is to be completed by September 15th.
  2. An unnamed financial investment firm will move to restructure the exchange's digital assets and begin an accounting of the transferred user data.
  3. The investment firm will "audit and register personal data in accordance with AML laws and KYC identification procedures".

In parallel with the legal issue of restructuring, users will be given the opportunity to check the integrity of the digital balance in the user's account, and users will be able to make changes in the security of the account. For chat and support the service will be launched on the old domain ( You will be able to log in and check your balance before recounting.

BTC-e representative 

The company also points out the the next update will be released on September 1st. 

However, BTC-e customers seem to be quite disappointed:

You said originally that either the exchange would run by end of august or you would refund everything. Why not refund what you have now and transfer the rest to the new entity?

data user

Obviously, most of the users expected to get access to the funds withdrawal before September 1st.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   110

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.

Saifedean Ammous


CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.