Topic: Anyone back on WEX? - page 2. (Read 1997 times)

Verification is supposedly up, but screws all U.S. account holders, as they will not verify U.S. accounts.

You are spreading falsehoods, I have successfully withdrawn and deposited many times on WEX

WEX.NZ is a scam

They are not letting users back on
Don't be fooled.

Those who are on cannot with draw.
Verification is Pointless



https://steemit.com/bitcoin/@thejamesfund/usd10-000-reward-bounty-or-split-among-individual-s-in-helping-me-blasting-btc-e-aka-wex-nz-info-below

wez.nz btc-e.com moneypolo.com scam my fiat.
Detail:
https://bitcointalksearch.org/topic/wexnz-moneypolocom-scam-115k-usd-my-wire-transfer-deposit-2253412

$10,000 REWARD AND BOUNTY OUT

https://steemit.com/bitcoin/@thejamesfund/usd10-000-reward-bounty-or-split-among-individual-s-in-helping-me-blasting-btc-e-aka-wex-nz-info-below

They haven't got their Verification provider sorted out yet, they are not using the same provider as BTC-e did.

yes exactly the same here ... and then they expect to restore confidence in their platform ... you UK based?

No support. Have been locked out since 7/2/2017.

All excuses, wait for verification etc...

I get this message:

Please wait for verification next week...

Then

Hello! Due to technical reasons users blocked because of white IP or 2FA problems can pass verification only after techsupports notification in the ticked about their issue. Users blocked by other reasons can have access to their account.

So anyone care to translate this garbage?

I know of 6 people just talking on here that has the same issue. I know there are more.

Yes it is confusing.

WEX made a huge mistake by socializing the BTC-e fiat losses across the crypto holders, that's effectively angered all users and killed the daily trade on the exchange.

What they should have done is only issued tokens (USDET,EURET,RURET) for the fiat shortfall and credited the crypto holders 100%,  that would have reduced the anger significantly and improved the crypto trade no end. Instead they forced crypto holders to lock up a substantial portion of their funds (38%) for an indefinite period of time in tokens, thus killing the crypto trade on what is primarily a crypto trading exchange. When the tokens are gone things might get better.  https://cointradeanalysis.com/dashboard/db/wex-tokens

sorry. I was confused. I believe their information update. because I only have a little money in btce, specifically 37$ and I get back 23$ . it is 61%
thank you for the correction information

Hmm that is interesting i've not thought the the whole $50k withdraw thing could not be legit.  I know i've heard talk of it on the whalepool teamspeak chat.  The story is that finex is not interested in dealing with small customers fiat movements.  Its for sure possible they could be insolvent, we'd need an audit to confirm for sure.  I moved out of trading there for the time being anyway.

i've done significant research into this. there is no evidence whatsoever that anyone -- whales, corporate clients, or not -- can withdraw any fiat money, in any amount. there are a few people going around spreading this misinformation, but nobody reputable has ever been able to confirm it.

sure, they've made a lot of money off adding altcoins. they've done incredible trading volumes. but given the scope of the debt they "paid off" (possibly by inflating the USDT supply), they may not yet be solvent.

as for the WEX tokens, there's no reason to speculate on them at this point until it's clear what their trading volumes will look like. we can't judge that after only a few days of trading.

Wrong, we got back 61.79% initial capital and 38.21% in tokens.

eg. if you sell your tokens for 0.55 you get back 61.79 + (38.21 * 0.55) = 82.8%

I sold by tokens at around 0.6 so I got back a bit more than that, and I was happy to be out of the token trap and trading again.


BTW. I just got an email from coinmarketcap to say that my request to add WEX as an exchange had been resolved, and the data should start appearing in 24hrs. https://coinmarketcap.com/exchanges/wex/

at present we got back was 55% of the initial capital 55% of your bitcoin and  45% converted into token. current token price 0,48 btc . btce will buy back the token btcet 1:1 btc

Finex do offer withdraws i have heard and its listed on their site but only for ballers moving $50k or more. I'm not sure how i feel about the possibility of them being insolvent, they've launched so many shit coins last few months they must of made a lot of money of that.  The BTCe tokens need a roadmap and i'd be interested at 25% maybe, should imagine other speculators feel same.

You can do whatever with your BCH coins. It's entirely up to you.

For the tokens, people seem to be dumping them right now and there isn't a whole lot of interest because their entire roadmap isn't clear to the public. I personally have sold them off simply because i had a very small amount and i didn't mind getting the cash instead of having to wait an indefinite amount of time.

If you have a sizeable amount maybe dump 50% and hold 50%. After all they were legit enough to pull through all of this crap and return funds to user.

i highly doubt they touched the stolen coins. law enforcement is watching those like a hawk. they are completely non-fungible, as it stands. what i think happened was that bitfinex "repaid" the debt tokens by issuing unbacked USDT. it's impossible to know, but i think after 6+ months with no fiat withdrawals available, we have to start questioning their solvency.

and over this period, the supply of USDT has skyrocketed. it's actually quite a scary situation. i think they did this because they felt they couldn't contain the FUD around both the BFX tokens and the banking blockade. BFX token debt is easy to erase when it is denominated in USD, and nobody expects you to wire them any USD.


there's plenty of trollbox addicts. i wouldn't be surprised if a small percentage of their traders moved just enough funds in to participate in the chat. they are probably banking on it.

I wouldn't focus too much on this because everything stinks when it comes to Bitfinex. Do you think it was coincidence that Bitfinex managed to buy back its outstanding debt at the moment the price of the stolen coins doubled in value? Definitely not. There is absolutely no way to prove this, but I am fairly sure that they somehow managed to 'borrow' enough funds with these stolen coins in pawn. Or they blatantly liquidated a large chunk of the stolen coins, which is also possible - either way, the outcome for people with debt tokens was positive, and that in a quick fashion.

Troll boxes have zero value due to them being infested with idiots pretending to be something, while they in reality are nothing. If it was up to me, the minimum balance to have access to the chat would sit on $100,000 and up. It will likely exclude 99% of the people, but at least it makes you get rid of the cockroaches very easily. Or simply delete that entire 'feature'.

No trader with a properly functioning brain will ever leave any actual funds on this exchange. It's okay to wait and see how things play out with the debt tokens, but that's pretty much it. Glad that WEX kept its word and returned as promised, but people will flow out slowly but surely. I wouldn't be surprised that the majority of the current (non token) volumes are being inflated by WEX itself.

You will be lucky to receive 50% people are trying to crash the token price, down to 41% on DSHET already. They are using bots that buy at the lowest sell price then sell part of it at the highest buy price and keep the difference, over and over to widen the spread and accumulate.

As a result the trade volume on the site has dropped by 40% because most people are tied up in tokens, and the price is too low to do any trade.

Also they have put the troll box min balance limit up from $100 to $1000 which is quite funny as there are lots of people who don't trust the site enough to leave $1,000 balance on it. The small traders will leave, down goes the daily trade volume again. WEX are doing everything they can to kill daily trade volume. It's $11mill atm. was over $20mill this time yesterday.

Realistically the site is dead, the normal coin trade it low and slow, most of the volume is token trade.

To see how dead WEX is look at the exchange volume charts here https://cointradeanalysis.com
All because of the token trade scam to to eliminate debt repayment.

50% seems very high considering they probably wont pay back for a year at best like finex.  I should imagine its high due to people saw how smooth the finex tokens got paid back.  You can probably double your money in crypto in safer ways so the best option is probably cash out.  The likelyhood of BTCe trying to crash the token market is pretty high also.