Markets
Type Price 24h %
BTC/CNY19870.00 +0.60 %
XCN/BTC0.0000161 -14.62 %
ETH/BTC0.1199 -2.35 %
MG/BTC0.0000063 +-0.00 %
BAT/BTC0.0000693 -1.14 %
QTUM/BTC0.003916 +1.82 %
LTC/BTC0.0171 -0.29 %
XRP/BTC0.000100 -5.46 %
ZEC/BTC0.1487 -0.40 %
DOGE/BTC0.0000011 +1.82 %
NXT/BTC0.0000640 +0.79 %
BTS/BTC0.000103 -6.93 %
ETP/BTC0.001728 -11.81 %
DASH/BTC0.0700 -3.01 %
CNC/BTC0.0000067 -1.18 %
NMC/BTC0.001006 +16.92 %
XEM/BTC0.0000754 -0.38 %
XCP/BTC0.0149 +0.07 %
PPC/BTC0.000980 +11.36 %
FTC/BTC0.0000299 +4.26 %
HKG/BTC0.0000355 +9.65 %
ETC/BTC0.007410 -0.20 %
BTRX/BTC0.0000392 -1.21 %
XMR/BTC0.0180 +0.00 %
XTC/BTC0.0000081 -3.92 %
REP/BTC0.0109 -0.96 %
XPM/BTC0.000319 +0.00 %

BTC-B’ Reimbursement and Buyback Plan


2017-03-26 14:50:36    Author: BTER    Category:    Tags:BTC,ETH,DASH,ETC,LTC   

7170 BTC was hacked from Bter on Feb 14 2015 (
https://blockchain.info/tx/f5b0363f03e1ed8bb812c135361ea93590c831ce9f13a3750be1b93575baccc6) and we probed and tracked the stolen BTC flowing into a dark network BitcoinFog. A reward of 700 BTC was offered for recovery the stolen BTC and the bounty is still valid today.
In March, 2015, when Bter re-opened, the stolen BTC was recorded as BTC-B in affected users’ accounts; Bter began to reimburse and have repaid 10% of the stolen BTC.
However, as BTC’s price surges, Bter cannot afford to repay the BTC_B.
To continue the reimbursement and allow the affected users to receive their assets sooner, Bter has consulted lawyers and  decided to start a new reimbursement plan referring to that of BitFinex- which was stolen of 120, 000 BTC in 2016 and has solved the problem satisfactorily.
The new reimbursement plan is as follows:
1) BTC-B in the affected users’ accounts  is converted to  BTRX  tokens at the price of BTC in CNY  when it was stolen 
2) Open BTRX market so that users can exchange BTRX freely.
3) Bter will buy back BTRX  monthly at the price of 1CNY/BTRX
4) BTRX  holders receive 10% of Bter’s profit every month (Profit is distributed in CNY )

Bter will release the details of buyback every month and complete the buyback as soon as possible

The BTRX trade is going to open a week later, that is April 2, 2017.

Once the stolen BTC is recovered, Bter will repay immediately.
We are appreciated if any analyst or expert in Blockchain technology is going to work with us to recover the stolen asset. 

Thank you for your understanding and support
Bter
March 26, 2017