Status of WEX (World Exchange Services)

[niicoz]

I'm keen to follow these developments too ...I had allot of funds unfortunately on btc-e and then wex.

Thanks

[1714881795]

1714881795

[ROGE9]

that Russian form is no real danger  ...that group has been adding up the collective loss files to file suit and these things do eventually get to court...

there is a legal international entity legally registered as responsible for collective losses... the problem is internal corruption and dispute...
Ukrainian mafia= no body talks or is found  ...but eventually there will be a leek 

pessimism will definitely Not work! ...be sure of that!
   
***but by and by... enough people dreaming sweet revenge/justice
          ...sure enough...  consistent thought... directed by vigilant intent
                ~~~creates quantum events in space time~~~

[Netnox]

that Russian form is no real danger  ...that group has been adding up the collective loss files to file suit and these things do eventually get to court...

It will be of no use. One of the two co-founders (Alexander Vinnik) is currently incarcerated and he'll be soon extradited to the United States. The other one has vanished without any trace. If we were to believe them, then the wallets have been hacked and the coins were stolen. Now tell me how any sort of legal action is going to result in a positive outcome.

[nak333]

It will be of no use. One of the two co-founders (Alexander Vinnik) is currently incarcerated and he'll be soon extradited to the United States. The other one has vanished without any trace. If we were to believe them, then the wallets have been hacked and the coins were stolen. Now tell me how any sort of legal action is going to result in a positive outcome.

Well said Netnox.

[Netnox]

May be it will be better to lock this thread. Because there is no activity on the Russian thread and most of the users seems to have got used to the fate of the exchange. The users will never receive any of their funds, because what is remaining will be seized by the FBI. There will be no positive outcome from pursuing this case any further.

[JayJuanGee]

May be it will be better to lock this thread. Because there is no activity on the Russian thread and most of the users seems to have got used to the fate of the exchange. The users will never receive any of their funds, because what is remaining will be seized by the FBI. There will be no positive outcome from pursuing this case any further.

It's not like this thread is being spammed.  I see no persuasive reason to lock this thread in terms of getting updates, whether positive or negative, and even if there might not be any posts for a few years.  You never know with these kinds of things, in other words, even if the probabilities of anything positive happening seem to be in the sub 1% arena, it is still good to keep these kinds of information channels open.

[fcknbs]

that Russian form is no real danger  ...that group has been adding up the collective loss files to file suit and these things do eventually get to court...

there is a legal international entity legally registered as responsible for collective losses... the problem is internal corruption and dispute...
Ukrainian mafia= no body talks or is found  ...but eventually there will be a leek 

pessimism will definitely Not work! ...be sure of that!
   
***but by and by... enough people dreaming sweet revenge/justice
          ...sure enough...  consistent thought... directed by vigilant intent
                ~~~creates quantum events in space time~~~

Sir, you are an inspiration. Losing hope never helped anyone. I pray that for every coin stolen, these scammers will spend a night getting raped in an Eastern European prison.

[fcknbs]

May be it will be better to lock this thread. Because there is no activity on the Russian thread and most of the users seems to have got used to the fate of the exchange. The users will never receive any of their funds, because what is remaining will be seized by the FBI. There will be no positive outcome from pursuing this case any further.

It doesn't matter what they've gotten used to. Who can say where the road goes? Only time.

[Vishnu.Reang]

I had 3.5 LTC in my Wex wallet, when it went down (plus some debt tokens). For those in the US and EU, it may not matter much. But here in India, it is almost twice the average monthly salary. Is there any chance of getting these coins back?

[nak333]

I had 3.5 LTC in my Wex wallet, when it went down (plus some debt tokens). For those in the US and EU, it may not matter much. But here in India, it is almost twice the average monthly salary. Is there any chance of getting these coins back?

I'm from Karachi, Pakistan.
See the screenshot. You can easily understand how much I lost at wex.
It matters a lot for me. I went back for at least 2 years.

[Hueristic]

I had 3.5 LTC in my Wex wallet, when it went down (plus some debt tokens). For those in the US and EU, it may not matter much. But here in India, it is almost twice the average monthly salary. Is there any chance of getting these coins back?

I'm from Karachi, Pakistan.
See the screenshot. You can easily understand how much I lost at wex.
It matters a lot for me. I went back for at least 2 years.

Damn, sorry to see that. GL

[andrew99]

For me it's 3,5 BTC..

[nak333]

For me it's 3,5 BTC..

I'm sorry to hear that. 

[Netnox]

I had 3.5 LTC in my Wex wallet, when it went down (plus some debt tokens). For those in the US and EU, it may not matter much. But here in India, it is almost twice the average monthly salary. Is there any chance of getting these coins back?

I'm from Karachi, Pakistan.
See the screenshot. You can easily understand how much I lost at wex.
It matters a lot for me. I went back for at least 2 years.

https://i30.servimg.com/u/f30/17/76/10/38/wex_ba10.png

OMG!!! Total of $12,605. That is almost 10 years salary in a country like Pakistan. Feels really bad for you. I also lost some of my coins after trusting this damn exchange (although my losses were much lower than yours). Well... all of us ignored the basic warning.. i.e not to keep our coins in the exchange wallets. I just hope that you will have the courage to move on with your life.

[nak333]

OMG!!! Total of $12,605. That is almost 10 years salary in a country like Pakistan. Feels really bad for you. I also lost some of my coins after trusting this damn exchange (although my losses were much lower than yours). Well... all of us ignored the basic warning.. i.e not to keep our coins in the exchange wallets. I just hope that you will have the courage to move on with your life.

Yep, the lesson Never leave your coins in exchange cost me a lot.
By the way, I made more than this amount in 2017. So, I'm moving on. 

[Vishnu.Reang]

The BTC-e exchange was set up by two IT engineers (Alexander and Alexei), who previously worked at the Skolkovo Technopark (Moscow, Russia). One of them (Alexander Vinnik) is currently under arrest and will be deported to the United States very soon. I don't know the details of the other guy. But he was probably the one who set up Wex.nz.

Now let's examine what are the options that we have. BTC-e was originally based in Kiev (Ukraine) and they later moved to Bulgaria. I don't have the information for Wex.

In case we want to file a lawsuit, should we do that in Russia, the United States, Ukraine, or Bulgaria?

[malevolent]

Now let's examine what are the options that we have. BTC-e was originally based in Kiev (Ukraine) and they later moved to Bulgaria. I don't have the information for Wex.
In case we want to file a lawsuit, should we do that in Russia, the United States, Ukraine, or Bulgaria?

Didn't they also do business out of Cyprus and the UK? Eventually settling in Singapore (wex). And they're Russian nationals edit: at least one of them has a Byelorussian passport though

BTW, they're running a new exchange now, velvet.exchange.

https://bitsonline.com/velvet-new-wex/

[thenoblebot]

^ Has anyone tried to contact this new exchange ? Maybe they do have some information to share with us ? Or maybe funds

[JayJuanGee]

^ Has anyone tried to contact this new exchange ? Maybe they do have some information to share with us ? Or maybe funds

Wishful thinking.

Currently, I am placing odds of Wex recovery at less than 1%...... still a non-zero, but odds that are low as fuck.

On the other hand, if everybody does nothing, then the odds of recovery are worse than if at least some inquiries are made in order to attempt to appeal to ethics/morality of anyone who might have our money.

[thenoblebot]

yea I'm hoping against hope too - if anybody from the original btc-e team was involved I'd expect them to have a strong moral compass - those guys went against the Feds to at least try and bring back wex.nz. Hoping someone with a conscience from the team comes across these posts !