Bter plans payback hacked funds

Bter, a China-based altcoin exchange that was hacked recently, has announced a plan to return funds to its users after striking an deal with security firm Jua.com.

Hackers have stolen 7,170 BTC (roughly $2.1m at press time) last month after accessing its cold wallet storage system. The company said in a post on its website that the users will be repaid in batches gradually using future profits. It has also received 1,000 BTC as interest-free loan from Jua.com.

"Most markets are re-enabled now and we are making withdrawals work for more and more coins", it tweeted.

Besides providing the 1,000 BTC loan, Jua.com will now maintain 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", BTER said.