'Hacked' altcoin exchange, Bter, has outlined a plan to payback users after inking a deal with security firm Jua.com.
The Chinese platform reported that hackers had absconded with 7,170 BTC (roughly $2.1m at press time) on 14th February after accessing its cold wallet storage system. If verified, the figure would make the attack the second largest this year.
An update to its Twitter page earlier today reads:
Most markets are re-enabled now and we are making withdrawals work for more and more coins.
"Hopefully a qualified party (especially a trusted security team) will take charge of it in the future," a spokesperson said at the time.
Alongside the 1,000 BTC loan, which will be provided in exchange for equity in Bter, Jua.com will now handle all the platform's cold wallet security.
"Working with Jua.com, we reviewed all the security-related code on Bter completely and rebuilt the back-end, and trust all our cold wallets to our partner for specialised security storage, making a solid security foundation for Bter’s re-opening."
Control of Bter’s hot wallets, used for deposits and withdrawals, will be moved over to Jua.com gradually, the exchange added. The company, which claims to provide enterprise security and storage services for bitcoin companies, runs BW.com, currently bitcoin’s 3rd largest mining pool.
Customers willing to trust the new escrow provider with their funds will receive one-month’s free trading on the platform.
Bter's missing funds have now been tracked to a coin mixing service, Bitcoin Fog, with the help of "security teams and ... kind cryptocurrency enthusiasts", the exchange said.
As bitcoin's public ledger, analysts have been using the blockchain to track and visualise the movement of funds in a number of high-profile security stories.
Additionally, a white-hat hacker named 'johoe' was able to take over 267 BTC from Blockchain wallets in December after discovering a security flaw. He later returned the funds.
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