Topic: Status of WEX (World Exchange Services) - page 2. (Read 26294 times)

Does anyone ever wonder that where exactly are those hundreds of thousands of bitcoin that have ended up being scammed or laundered by the exchanges till now?
Is there any record of the various people, anonymous or known, and those addresses where these humongous amounts of hacked/ stolen/ scammed funds have ended up. In a lot of these cases, i guess even the original perpetrators may have turned against each other in a Mexican standoff way.

Another thing to speculate on is that the only organisations with enough resources to follow these people out of their anonymity are Law enforcement agencies. So I guess the biggest gainers from the whole sorry sagas could be the investigation officers!!

EDIT: I was trying to read the long ass BBC report, not even sure what part of it is true and what part propaganda. Its bloody hard to follow it because of all the non-familiar Russian sounding names. I am all confused if they are talking about Bilyuchenko ,Zhulanova, Malofeev or what. Still trying!

I don't have a lot of hope for any recovery of funds, but I miss trollbox......I'm kinda writing it off as doing business in the wild, wild west of crypto.

Oh, thanks.  Like a kind of blackmail.  Surely, some people play hardball.

I think a google translation of the video's description is understandable - someone who lost 1 BTC on wex is threatening to dox one of wex admin's family to pressure him to return 1 BTC.

Can you (or anyone) translate to English and explain the reason for the post, and the relevance here?  My Russian, no good (actually such referred-to Russian does not exist beyond google translate). 

I can confirm that Ruslan is no longer involved in wex-scam, I chatted with him few weeks ago about this.

With Silkroad if someone was willing to hire a lawyer they might have stood a chance at regaining their money if they didn't buy anything illegal on the site. Here it's different, agents of FSB are known for acting against Russian law and using their powers to extort businesses and to threaten its owners so that they sell their company for less than it's worth. That's why I'm skeptical that anything will come out of it if FSB is involved. Even more so since we're talking about an exchange many falsely and without basis believe was used predominantly by criminals.

Good old Russia. Can anyone nominate any of these seizures that had a happy ending?

I know untangling is a huge, probably impossible, amount of work but I find it bizarre that authorities just help themselves without any thought for the thousands of people who were on these platforms in good faith.

Even Silk Road had people selling perfectly legal stuff.

Party pooper.  

You are trying to snuff out all hope?

 


By the way, I had a decent amount of funds on WEX, and yeah of course,  I regret it in retrospect, and for the past year or so, I have calculated less than a 1% probability of getting any of that back, yet for me, it is nice to see that there are various efforts going on behind the scenes that could result in some kind of quasi-justice for users (very low probability of course, but still a non-zero calculation, no?).  

You know that frequently, government agencies try to act like they are engaging in their various kinds of seemingly draconian measures in the interest of the public, and I suppose that they could end up categorizing both the administrators of BTC-e and WEX and the users as criminals, but that seems like real summary lack of due process bullshit to me, and of course any USA federal agencies would have duties to justify their actions regarding what they do and why they are doing it regarding any BTC-e/WEX proceeds that they might end up confiscating.  

Yes, I am aware that the Silk Road proceeds that were confiscated in 2013/2014 were not handled with any kind of consideration that users might have deserved any kind of distribution, and many of those proceeds that were confiscated were auctioned off, as far as I can recall, in 2014 and 2015, so in that regard, users of Silk Road were summarily considered as undeserving of return of their funds (kind of considered as criminals without any due process.. so kind of a bullshit conclusion that might not have really been that easy to justify if really put to scrutiny).  

So, sure, I can recognize that Federal agencies might end up coming to similar summary and lacking of due process conclusions regarding the arguable funds of any users of BTC-e and WEX.

$107M of cryptocurrencies on the above addresses, some more on Binance, some more elsewhere probably, fiat money who knows where. If it's FSB which has got the money now, it's as good as lost.

Ok thanks for sharing that information here.

I don't currently have a membership to telegram.   

Surely it would be nice if some of the coins were recovered, and I know that the various principles had been put in bad positions, including pursuit by various legal authorities, whether those pursuits were valid or not is another question and surely it is NOT fair if customers are not able to recover decent amounts of the funds, if such funds are available or found, and yeah it looks like the verified wallets that are being monitored would have only been a fraction of the total amount of coins that would have been under the control of various BTC-e or WEX principles. 

And, I suppose it is one thing if they lose access to the funds (such as losing the keys) or if they were to be able to control the keys and maybe one or more of the principles is able to run off with the keys, and it is difficult to know when some of the principles might be getting put through difficult situations or even if there is some lack of clarity who has the keys to various wallets.

Viva-e.com still alive. But what's the point in trading on it when my old account does not work there, my funds are still gone. If old accounts were active I would assume they are back, but the people behind this can be anybody.
There has been such a site before, think it was nowex.nz, looked the same. (pretty much like viva-e.com), but the site was gone after few months.
I see no point in getting in there.

Thanks to share this link.

https://www.coindesk.com/ex-ceo-of-crypto-exchange-wex-arrested-in-italy

Saw the video. Not very convincing but did have 157 views which is three times the actual users on viva-e. 3 btc volume. It's bullshit.

This exchange really works.
I will get an invite code soon.

https://www.youtube.com/watch?v=59OCvgceczU

I tried to sign up without an invite code, does not work. it says "Incorrect invite code".

Well said bryant.coleman
When BTC-e came back as WEX.nz, I thought that they will stay for long.
So, I transferred more to WEX.nz and I lost more than that I had in BTC-e.


We are not 100% sure about internal disputes/thievery. It can be only a rumor. The source of that story is only a Facebook post. Who knows he was telling a lie or truth.