After two weeks offline, the cryptocurrency exchange BTC-e has come out with another announcement, claiming to gain control over 55% of its funds. It plans to relaunch in the end of August, but under another brand.

“Work under the current BTC-e brand is not possible due to unresolved issues from the Office of Financial Crimes of the US Treasury.”

The remaining 45% of funds have been confiscated. Currently, BTC-e managers are negotiating with a group of investors, or an investment company, about buying and a prompt launch of the service and repaying debts to customers.

The exchange platform offers its view on the current situation and the way to resolve existing problems as follows:

“After we transfer all balance sheets of the investment company, we will recalculate the balance sheets. The conversion procedure, taking into account the available 55% of funds:

All liabilities for currencies (USD, EUR, RUR) will be transferred to BTE tokens (1 BTE is 1 USD) at the exchange rate on the date of conversion.

Probably, for more operative closing of promissory notes, ICO will be held on BTE tokens.

If you have on the balance the amount in coins, then you will have written off 45% of the balance of coins and credited with 45% of BTE (1 BTE is 1 USD).

At the exchange rate on the day of conversion. If you have a balance in BTE, then you will be credited with 45% in coins (the sum will be divided into 7 different coins equally BTC, LTC, NMC, NVC, PPC, ETH, DSH) and write off the amount of 45% in BTE.

Upon all recalculations, all users will have the opportunity to withdraw 55% of their funds from the system.”

BTC-e cautions that all users will need to undergo verification as the investment company works in compliance with KYC, AML and the licenses required for this activity.

“All debt obligations will be closed primarily from operating income from the investment company's commission, as well as from the funds we plan to sue from those who illegally seized them.”

BTC-e said that all the funds that were in the reserve fund, including all the exchange's income, were transferred to pay off the debts.