BTC-e funds dissapeared from their cold wallet #news

BTC-e is for sure in big troubles as their cold Ethereum wallet is being emptied at the moment we speak. So far about $90 million have been send to a new address. It's unclear who is in charge of the new address, but many assume the US law enforcement is behind the actions and they will also take control over the companies domain name.

At this moment it's a mystery who is behind the new BTC-e Ethereum address. No one got any clue where the $90 million worth of Ethereum have been moved to. BTC-e is again a clear example you should not keep all your funds on an exchange, but should store them at a place where you are in control! A place you own the private key of and can restore your funds at any moment.

Assuming the US government is behind this action there is a chance the funds will be restored to the belonging owner. That will only happen probably after they prove it are their funds and they have to put identification. This is not good for the image of cryptocurrency. For now this is only speculation and only time will tell how the BTC-e story will end.