All Users will be Required to Submit their Identity.

The Russian crypto-currency exchange BTC-e has stated on bitcointalk.org that it will return 45% of the funds stolen by the US government by creating a new token calling it BTCT.

BTC-e found out last week that only 55% of the funds were attainable and the other 45% have been seized by the FBI with no provable cause of an alleged operator accused of the MTgox heist. Token will be redeemable for other cryptocurrency, Bitcoin, Litecoin, Namecoin, Novacoin, Peercoin, Ethereuem and Dash but no more then the value initially owed to users.

In order for users to receiving 45% of lost funds they would have to verify their identity due to their new investor requirments which require a KYC and AML so they are compliant with regulators.

Holders of the new token can sell it to other users on the new exchange (to be determined) for other crypto-currencies. In the $60 million Bitfinex hack most users sold their tokens at a loss but we know now if they would have waited they were almost certain to receive 100% of their losses.

Currently BTC-e operators are currently working on the new platform with an unnamed investor to reignite the site under a different name due to the US Treasury Office of Financial Crimes slapping a $110 million dollar fine on the company due to not following the anti-money laundering laws of providing private details of their users.

The exchange said the process of re-branding will begin end of August beginning of September and promised to disclose all details moving forward.

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