Thursday, February 27, 2014

Oh Boy, Bitcoin Exchange BTC-e, a Mt. Gox Alternative, is an Internet Black Hole

MarketWatch reports (my bold)
The two largest bitcoin exchanges currently available to investors, Bitstamp and BTC-e, both stand to gain market share in the wake of Mt. Gox’s sudden meltdown. But some are questioning the safety in using the largely anonymous exchange BTC-e.

Not much is known about BTC-e besides its size and some scant information on its website. It’s the second-biggest bitcoin exchange by 30-day volume, according to There’s evidence that BTC-e is already benefiting from the Mt. Gox halt; a Tuesday update on BTC-e’s support website noted that the support system would be moved to a new platform “in order to cope with the increased number of client requests.”

But who runs it, and from where?

The terms of use on the exchange’s website say it is governed by the laws applicable in Cyprus but the website’s description on Google says the exchange is based in Bulgaria. The support system’s latest updates are presented in Russian and English. The founders of the BTC-e bitcoin exchange have taken pains to remain anonymous, giving only the names Aleksey and Alexander in a December interview with CoinDesk.

Users are unable to send a message to the site’s administrator. When one tries, as this reporter did, a window pops up with this response: “Please use tickets to contact us about any questions & problems.” There is no email address easily available on the website.

No comments:

Post a Comment