WEX formerly known as BTC-E - withdrawal methods are disabled !

[designbuyers]

unsure what is happen to WEX as it was formerly known as BTC-E they turn off withdrawal for unknown reasons.

If you have any information, please post it.

Thanks

[1715562171]

1715562171

[LeGaulois]

They were saying on Twitter they are working on their servers on their exit scam, but it was on 13 July, since a lot of people are starting to panic and the team isn't giving any news since. It could be the BTC-e 2.0. I have no idea why people are still using this exchange.

[milewilda]

unsure what is happen to WEX as it was formerly known as BTC-E they turn off withdrawal for unknown reasons.

If you have any information, please post it.

Thanks

Just have an update on their twitter as of today which can be seen on here: https://twitter.com/WEXnz/status/1018872081994436608
Stated

Due to wallets maintenance, BTC, LTC, ETH, BCH, DSH withdrawals won't be available until 22 July. Sorry for inconvenience caused.

A week maintenance? thats very long.

[designbuyers]

do you think they will be back or that's going to be game over soon ?

[milewilda]

do you think they will be back or that's going to be game over soon ?

No one really knows on what would happen next. If they wont come back on the said date that they do promised then most probably they would result into other BTC-e scam.
Ive been just wondering too like said above on why do still people entrust to make use of this exchange inspite of its non-good history?
If i we're of the current users once the withdrawals are enabled i would definitely pull out.

[LeGaulois]

unsure what is happen to WEX as it was formerly known as BTC-E they turn off withdrawal for unknown reasons.

If you have any information, please post it.

Thanks

Just have an update on their twitter as of today which can be seen on here: https://twitter.com/WEXnz/status/1018872081994436608
Stated

Due to wallets maintenance, BTC, LTC, ETH, BCH, DSH withdrawals won't be available until 22 July. Sorry for inconvenience caused.

A week maintenance? thats very long.

After 3 days without any news and coming from nowhere to say 5 wallets are in maintenance, I think I am ready to bet they fucked their servers and don't really have ideas to fix the issues. 1 week for a maintenance.... Imagine if your bank says, we are closed for maintenance for 1 week. No ATM avalaible...

[figmentofmyass]

unsure what is happen to WEX as it was formerly known as BTC-E they turn off withdrawal for unknown reasons.

If you have any information, please post it.

Thanks

latest official news from the exchange: https://twitter.com/WEXnz/status/1018872081994436608

Due to wallets maintenance, BTC, LTC, ETH, BCH, DSH withdrawals won't be available until 22 July. Sorry for inconvenience caused.

something very wrong has obviously happened. best case scenario, this indicates an emergency server migration (which for an exchange like this, involves some sensitivity). this seems somewhat likely to be the case, given that ZEC and USDT withdrawals appear to be active.

After 3 days without any news and coming from nowhere to say 5 wallets are in maintenance, I think I am ready to bet they fucked their servers and don't really have ideas to fix the issues. 1 week for a maintenance.... Imagine if your bank says, we are closed for maintenance for 1 week. No ATM avalaible...

the way they recovered from the btc-e seizure in 2017, i wouldn't assume the worst yet. they have encrypted server backups for sure. but i also wouldn't be storing funds here either.

[richardsNY]

WEX has been trading significant premiums very recently which might have been an indicator that something was wrong. BTC-E used to be my favorite exchange due to the lack of restrictions, but they trapped me in pretty badly during their seizure last year. Once an exchange goes through something similar, you can be sure that it will happen again later on. I'm not saying it's happening right now, but it could still be the case later on -- these exchanges should be ditched directly after such event, and not be granted another chance. That's also how I think about Bitfinex....

[gentlemand]

something very wrong has obviously happened. best case scenario, this indicates an emergency server migration (which for an exchange like this, involves some sensitivity). this seems somewhat likely to be the case, given that ZEC and USDT withdrawals appear to be active.

BTC-e announced unscheduled maintenance last year.

https://twitter.com/btcecom/status/889918430228492289

Then six days later they let us know about the FBI.

https://twitter.com/btcecom/status/891928666065707008

Lightning strikes twice?

[designbuyers]

something very wrong has obviously happened. best case scenario, this indicates an emergency server migration (which for an exchange like this, involves some sensitivity). this seems somewhat likely to be the case, given that ZEC and USDT withdrawals appear to be active.

BTC-e announced unscheduled maintenance last year.

https://twitter.com/btcecom/status/889918430228492289

Then six days later they let us know about the FBI.

https://twitter.com/btcecom/status/891928666065707008

Lightning strikes twice?

So assuming that the history repeated itself.

[1Referee]

A very wise man once said; Insanity is doing the same thing over and over again but expecting different results.

Good thing of this shit show is that it yet again proves that the Tether $ peg is as worthless as the dirt under your shoes. 1USDT is currently worth $1.84 on WEX which is down from a peak of nearly $2.30 yesterday.

On the other hand, this situation could also be a smart way for WEX to make people buy their coins at higher prices where it then tanks the market down by enabling withdrawals again. They are shady, it definitely wouldn't surprise me if they actually take advantage of it like that. If people manage to withdraw again and still use that exchange after this nonsense, you are begging to lose your funds.

[timerland]

Based off the track record of WEX alone, dating back to its BTC-e days, I definitely wouldn't deposit a large sum of money into WEX right now, let alone hold it on their site for long periods of time. Their support is unresponsive, and there are obviously legality issues. Funds are not safe on any exchange if you hold it for long, especially WEX, as things are bound to happen.

Now they've got this maintenance coming up that was previously unscheduled and will last for a week - for absolutely no known reason.

This is not trustworthy behavior by any means. The rates on their site is already completely screwed up and dysfunctional due to all of the issues that they're having. Get out of this exchange asap, it's dysfunctional, it's not going to get any better, it's got legal issues, it could have liquidity issue. Don't keep money on there.

[figmentofmyass]

something very wrong has obviously happened. best case scenario, this indicates an emergency server migration (which for an exchange like this, involves some sensitivity). this seems somewhat likely to be the case, given that ZEC and USDT withdrawals appear to be active.

BTC-e announced unscheduled maintenance last year.

https://twitter.com/btcecom/status/889918430228492289

Then six days later they let us know about the FBI.

https://twitter.com/btcecom/status/891928666065707008

Lightning strikes twice?

that brings me back. that was a very dark couple days for me, for obvious reasons. BTC-E was my go-to exchange for years, and i was waiting out a dip.

(as it turns out, that was the last dip before the bubble took off, so that takedown was much like the silk road seizure in 2013 for me)

anyway, maybe, but it smells like something else. site is still up, trading still active, some withdrawals still active. and most importantly, no press release from the feds. by now, i'd expect something on the DOJ website.

also, they attempted to re-enable withdrawals on all the affected coins yesterday, which failed. this was followed by the announcement about july 22. that suggests to me, again, emergency datacenter/server issues. (not that this bodes well, just don't think it's the USA government)

[gentlemand]

that brings me back. that was a very dark couple days for me, for obvious reasons. BTC-E was my go-to exchange for years, and i was waiting out a dip.

I would be sodding amazed if they were still up to anything illegal, however perhaps investigations are far from over and it's not as if they came in from the cold. They just shrugged it off and ploughed onwards. Plenty of people might still be gunning for them.

Fingers crossed for straightforward creakiness.

[mobnepal]

I hope its not worse and worried about the one who were still trading there after FBI arrest last year, we should avoid trading platform that have been in trouble specially legal problem for our own safety. But it looks like many were still trading there just because they can sell their coins for better price which is quite insane.

They want 1 week for maintainance which is only the case when they want to change the server or all of their wallet crashed along with server and they have to now download whole blockchain data from scratch. If not than its most likely they got second strike from FBI.

[designbuyers]

not sure what's going to happen.

let's just hope for the best for those that have much deposited in, I don't think they are same management as BTC-E.

The truth is going to reveal eventually.

[figmentofmyass]

They want 1 week for maintainance which is only the case when they want to change the server or all of their wallet crashed along with server and they have to now download whole blockchain data from scratch. If not than its most likely they got second strike from FBI.

the earlier screw-up where they reenabled non-working withdrawals spells datacenter migration to me. for a shady exchange like this that hides behind shell companies, it's reasonable to take several days to find a new datacenter solution, migrate servers and sync wallets.

the troubling thing is, what the hell happened in their datacenter? unlike last time, they still have full control over their domain and trading engine servers. and there is still no press release at justice.gov.

so i highly doubt this is the US government!

let's just hope for the best for those that have much deposited in, I don't think they are same management as BTC-E.

i think it's the same management. they run WEX just like they ran BTC-E. in both cases, there is big speculation about who really controlled them, but i believe they are the same, especially after the ukrainian militant connection.

[magneto]

Unknown reasons indeed.

Nobody ever knows it seems what's happening with the site. Even though they've changed their name from BTC-e to WEX, I think that they are still not a single bit more transparent than they were and just still an extremely shady site at best.

I don't know why people are still using them, and storing money with them after all the problems that the ran into with the US regulators and government. There seems to be no reason to be utilising their services anymore. Storing your money on WEX essentially means that you're subject to such kind of 'maintenance' which leaves your account essentially frozen, unable to withdraw, alongside a useless support. 1Referee puts this perfectly. It's insanity if you keep using WEX, tbh.

[pooya87]

when you use a shady exchange for trading, you should also expect shady behavior from them and you should have already been prepared for it. it is like Yobit and all those who use it and then complain why their deposit/withdrawals are stuck because their wallets are in maintenance forever.

I don't know why people are still using them, and storing money with them after all the problems that the ran into with the US regulators and government.

a trader doesn't "store" money on exchanges but he has funds there to trade. you can't make a withdrawal after each trade, sometimes you even have to place orders and wait for them to be filled so you end up having funds on exchanges.

[designbuyers]

Some withdraw is enabled like NMC and NVC and PPC and ZEC and WEX Code .. that's only I am aware of ... they rest are disabled.

it could be exchanged I guess if someone want to withdraw will lost a bit of the money.

BUT better then lose it all if we assume they going to close scam.