BTC-e

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

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. 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.[5] They later began using the reverse proxy service CloudFlare to help mitigate these attacks, reducing downtime for the exchange.

References

  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. ↑ Jonathon Millet @ NewsBTC. "BTC-e Reports DDOS Attack Against Their Server".


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