The Chinese cryptocurrency exchange BTER has received 1,000 BTC from its new partner JUA.COM, a Chinese digital currency service, and intends to refund all customers’ losses caused by a hacker attack in February.


However,  according to comments on Twitter and Reddit, customers currently have nothing in their accounts and BTER has not commented on this so far.

CoinFox reported earlier that BTER had allegedly lost 7,170 BTC (approximately $1.75 million) from their cold wallets in mid-February. The company shut down all its services and set a prize of 720 BTC for getting the lost funds back. BTER said that the theft was the result of a hacker attack and initiated a police investigation.

The new partnership with JUA.COM, a bitcoin deposit/interest-earning service provider, will allow BTER to solve the customers’ security issue completely, the announcement on the website claims. BTER is going to hand over all wallets, both cold and hot, to for storage and management.

“Working with JUA.COM, we reviewed all the security related code on BTER completely and rebuilt the backend, and trust all our cold wallets to our partner for specialized security storage, making a solid security foundation for BTER’s re-opening,” the announcement reads.

Interestingly, has acquired the domain name today and has launched a voting campaign for the best logo on their account on Weibo account (a popular Chinese microblogging platform). Voters get a reward 0.005BTC for each vote, according to

“JUA’s  CEO, Mr. Songxiu Hua (also the founder of pool, and exchange), spoke earlier that they are building a team that operates in the U.S. to promote their service outside China,” a user on claims.

Earlier this week, BTER had put its website back online and is currently preparing to resume trading soon. The company issued an announcement confirming that BTER will pay back all stolen bitcoins. The losses will be compensated in batches gradually as BTER intends to use its future profits for compensation. To increase profits and to pay back their customers quicker, BTER will open more businesses and look for new investors, the announcement reveals.

As a thank you for customers’ support, BTER has waived all fees on all BTER services for one month:


Clients who suffered from the hackers will receive a 50% discount on all trading fees for six months in proportion to their BTC loss. The company has also promised a reward of 30% of all trading fees for 6 months in return for referring other users to BTER

 Security remains one of the major challenges of the developing digital currency. In January 2015, two large bitcoin marketplaces, BitStamp and LocalBitcoins, were hacked with a loss of customers’ funds. BitStamp resumed operations after a 5-day suspension of service.