BTC-e

BTC-e

Industry	Bitcoin Exchange
Founded	2011
Headquarters	Russia
Website	btc-e.com

BTC-e is a digital currency trading platform and exchange.^[1] It was founded in July 2011 and as of February 2015 handles around 2.5% of all Bitcoin exchange volume.^[2] It allows trading between the U. S. dollar, Russian ruble and euro currencies, and the bitcoin, litecoin, namecoin, novacoin, peercoin, dash and ethereum cryptocurrencies.

It has been a component of the CoinDesk Bitcoin Price Index since the index started in September 2013.^[3]

Neither the names of the management, the name of the company nor the jurisdiction of incorporation are known.

History

BTC-e started in July 2011, handling just a few coin pairs, including Bitcoin/U. S. dollar and I0Coin to Bitcoin. By October 2011, they supported many different currency pairs, including Litecoin to dollars, Bitcoin to rubles and RuCoin to rubles.^[4]

On July 31, 2012, BTC-e had their Liberty Reserve API Key compromised, the attacker injected thousands of fake U. S. dollars into the site and used it to disrupt the markets. A large amount of Bitcoins were taken during the attack, some sources estimate the equivalent of $35,000 were taken in Bitcoins.^[5] The attackers are still unknown, although BTC-e recovered without taking coins from their users.

During 2013 and 2014, BTC-e had many outages related to Distributed Denial of Service attacks.^[6] They later began using the reverse proxy service CloudFlare to help mitigate these attacks, reducing downtime for the exchange.

References

^{[7] [8] [9] [10] [11] [12] [13]}

1. Benjamin Guttmann (2014). "The Bitcoin Bible Gold Edition". Books on Demand. pp. 175–176. ISBN 9783732296965.
2. "Bitcoin Exchanges Market Share". Bitcoinity. Retrieved 2015-02-10.
3. Del Rey, Jason (September 11, 2013). "What’s a Bitcoin Really Worth? CoinDesk Thinks It Has the Answer.". All Things D.
4. BTC-e (2011-10-25). "Start trading on a pairs of BTC/RUB, LTC/USD, RUC/RUB, USD/RUB!". Retrieved 2015-11-20.
5. User dree12 @ BitcoinTalk. "List of Major Bitcoin Heists".
6. Jonathon Millet @ NewsBTC. "BTC-e Reports DDOS Attack Against Their Server".
7. "The Bitcoin Bible Gold Edition". google.com.
8. "BTC-e Pulls Support for Ruble As Russia Bans Bitcoin". CoinDesk.
9. "BTC-e Empowers Veteran Investors with Advanced PAMM Trading Account". CoinDesk.
10. "BTC-e Back Online Following DDoS Attack". CoinDesk.
11. Digiconomist. "Exchange Review: BTC-e". Digiconomist.
12. "BTC-e - Terrorist or Freedom Fighter?". The Merkle.
13. "Bitcoin exchange BTC-e, a Mt. Gox alternative, is an Internet black hole". Marketwatch.