WEX.nz - page 2. | Bitcointalksearch.org

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: stmar on July 17, 2019, 03:29:36 PM

What is it:
https://etherscan.io/address/0xb3aaaae47070264f3595c5032ee94b620a583a39#tokentxns
https://etherscan.io/tx/0x25e96fbce81f03d819d5bc430b274241c79af0e038dcc1e11599e523824bbad6

Shocked

If I'm reading it correctly, then 67,320 DAI stablecoin tokens were withdrawn from the WEX.nz wallet. I assume the admins -- or whoever has control of the funds now -- are planning to wash it through a DEX so they can get some ETH or BTC to sell for cash.

I wouldn't get your hopes up about recovering funds. Undecided

stmar

member

Activity: 196

Merit: 52

What is it:
https://etherscan.io/address/0xb3aaaae47070264f3595c5032ee94b620a583a39#tokentxns
https://etherscan.io/tx/0x25e96fbce81f03d819d5bc430b274241c79af0e038dcc1e11599e523824bbad6

Shocked

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: LightningSphere on July 16, 2019, 01:50:14 PM

But they were behind cloudflare, so at cloudflare they know who is wex. Why don't they tell, why do they help fraudsters hide?

Creating and administering a Cloudflare account only requires email address and password. Billing is possible through credit cards, Paypal, or bank transfer from shell company accounts that will never lead back to the real admins.

If the US government were interested in WEX.nz -- like they were interested in BTC-e -- Cloudflare could help locate their servers. But Cloudflare alone has no idea who they are.

LightningSphere

newbie

Activity: 22

Merit: 3

But they were behind cloudflare, so at cloudflare they know who is wex. Why don't they tell, why do they help fraudsters hide?

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: easypay on June 21, 2019, 02:47:08 AM

If any one got any source to claim our funds please let us know

There isn't one and there probably never will be. If the US government seizes any funds they'll be helping themselves to it. The operators are long gone.

The only scenario where it would be likely is if there was an official liquidator and there is not. If there was there would be a wait of several years and most of the funds would be slowly eaten by expenses.

easypay

newbie

Activity: 1

Merit: 0

If any one got any source to claim our funds please let us know

figmentofmyass

legendary

Activity: 1652

Merit: 1483

an interesting news story that emerged a few months ago: https://www.coindesk.com/crypto-exchange-wex-linked-to-iranian-ransomware-operators

late last year, the USA government (for the first time ever) publicly identified bitcoin addresses associated with individuals on a OFAC sanction list. this was only a few days after WEX lost their .nz domain and quickly disappeared for good.

as it turns out, the sanctioned individuals were using WEX to launder proceeds from the samsam ransomware scheme. this is not a surprise, but violating OFAC sanctions is a far more serious offense than simple money laundering charges. the timing of it all makes me wonder if the sanctions played a role in WEX's unwillingness to keep up the fight.

malevolent

legendary

Activity: 3472

Merit: 1722

Quote from: Vishnu.Reang on June 18, 2019, 11:03:29 AM

But what happened to Alexander Vinnik probably changed their mind.

Vinnik's arrest happened a year before wex closed down, the rest of the team, assuming they well as implicated as Vinnik, would have been safe so long as they remained in Russia or in Russia-aligned states (e.g. Belarus where one of the founders came from iirc). Like many other cryptocurrency businesses, some of the people behind btc-e/wex decided they've had enough working and were ready to retire.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: malevolent on June 17, 2019, 03:06:15 PM

They aren't responding because they aren't coming back. As simple as that. Too much time has passed to have any hope they'll return, so I'd just move on.

Openly challenging the feds was nothing short of idiotic. They thought that they'll be able to use the loopholes and avoid capture. But what happened to Alexander Vinnik probably changed their mind. Vinnik is likely to face a life term without the possibility of a parole, similar to what Ross Ulbricht received. The other team members probably think that it will be safer for them to keep a low profile at this point of time.

malevolent

legendary

Activity: 3472

Merit: 1722

They aren't responding because they aren't coming back. As simple as that. Too much time has passed to have any hope they'll return, so I'd just move on.

LightningSphere

newbie

Activity: 22

Merit: 3

But again, the people who know what has happend to btc-e/wex.nz are probably reading this too. Why the silence, why not share it with us, what can possibly be the reason? It's so freaking weird...

malevolent

legendary

Activity: 3472

Merit: 1722

IIRC, it was 55% or 62% + the rest in the form of tokens if you had waited a couple weeks longer. For a long time tokens could be sold for ~50% of their future value.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: thedreamer on June 16, 2019, 05:40:15 PM

Quote from: thenoblebot on June 16, 2019, 03:42:27 PM

The OG btc-e team symbolized what crypto stood for - freedom, sovereignty and trust. While I don't condone any of the alleged money laundering operations - I certainly admire them for standing upto no less than the Feds and trying to do the best for the users. Not sure any other exchange would even try that, given how hard the Feds made it for them. So yea - would easily trust btc-e OG crew - if they could verify their identities in a reasonably assuring manner.

You are so clueless as to what really went down when btce did their exit sham. Next you'll tout what good job they did with the wex token scam and 45% refunds for select people.

Ugh... :facepalm

There is enough evidence which points to the fact that some of their funds in the form of cryptocurrency was seized by the feds. And they issued refunds not just for "select" people, but for all the users. I had an account with BTC-e, and I received around 55% of my coins (mostly LTC) in Wex. And for the remainder, I received the tokens.

thedreamer

legendary

Activity: 1694

Merit: 1002

Go Big or Go Home.....

Quote from: thenoblebot on June 16, 2019, 03:42:27 PM

The OG btc-e team symbolized what crypto stood for - freedom, sovereignty and trust. While I don't condone any of the alleged money laundering operations - I certainly admire them for standing upto no less than the Feds and trying to do the best for the users. Not sure any other exchange would even try that, given how hard the Feds made it for them. So yea - would easily trust btc-e OG crew - if they could verify their identities in a reasonably assuring manner.

You are so clueless as to what really went down when btce did their exit sham. Next you'll tout what good job they did with the wex token scam and 45% refunds for select people.

Ugh... :facepalm

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: thenoblebot on June 16, 2019, 03:42:27 PM

So yea - would easily trust btc-e OG crew - if they could verify their identities in a reasonably assuring manner.

They should have left something in place for just this eventuality. I guess they either didn't expect it or didn't care but I don't see how they could make a successful comeback without it.

thenoblebot

sr. member

Activity: 364

Merit: 252

The OG btc-e team symbolized what crypto stood for - freedom, sovereignty and trust. While I don't condone any of the alleged money laundering operations - I certainly admire them for standing upto no less than the Feds and trying to do the best for the users. Not sure any other exchange would even try that, given how hard the Feds made it for them. So yea - would easily trust btc-e OG crew - if they could verify their identities in a reasonably assuring manner.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: illyiller on June 16, 2019, 03:06:16 PM

Well, BTC-e repaid 55-60% of funds immediately. More if you waited until WEX was launched. So clearly redress was possible, just not of the "legal proceedings" variety. The obvious move was to take that money and run, not keep all your money on the new exchange. But alas, crypto traders love to take unnecessary risks.

If Bitfinex or Tether had most of their fiat money seized, you think they would spin up a refund process like BTC-e did? I would expect much worse results through the court system, especially given the dodgy jurisdictions where they are organized.

Bitfinex could've chosen bankruptcy with their Bitgo hack. Instead they did a cludge to stay afloat. And they have had a large amount of fiat stolen from them by Crypto Capital. Again, they've limped on.

Both they and their users have Gox to look to to know what happens if they go down the fully legit route.

If there was some way of knowing the original BTC-e team was in place then at least you have some track record to reassure you. Clearly the original team wasn't in place by the end so it's full facelessness which isn't a good look.

If someone turns up today saying hello we're back how do you know if there's anything legit about them? They may control original addresses but private keys are easily stolen.

illyiller

hero member

Activity: 697

Merit: 520

Quote from: gentlemand on June 16, 2019, 01:01:02 PM

All the same I wouldn't deposit a poo into Bitfinex either. I would assume there might be some redress if it all went wrong. This thread is a demonstration of that not being the case with BTC-e.

Well, BTC-e repaid 55-60% of funds immediately. More if you waited until WEX was launched. So clearly redress was possible, just not of the "legal proceedings" variety. The obvious move was to take that money and run, not keep all your money on the new exchange. But alas, crypto traders love to take unnecessary risks.

If Bitfinex or Tether had most of their fiat money seized, you think they would spin up a refund process like BTC-e did? I would expect much worse results through the court system, especially given the dodgy jurisdictions where they are organized.

gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: squatter on June 16, 2019, 12:21:59 PM

Is this the same Bitfinex whose CFO said they "bank like criminals?" The same Bitfinex who just lost $850M in a bank seizure by law enforcement? The same Bitfinex whose CEO is a ghost that nobody has ever seen before? The same Bitfinex whose longtime CSO (Phil Potter) resigned as regulatory scrutiny, allegations of criminal market manipulation and other legal problems piled up last year?

WEX.nz may have been on the extreme end of things regarding their lawless mentality, but Bitfinex is very close behind them. Anyone with significant funds on deposit at Bitfinex or Tether is surely playing with fire!

Would I trust BFX more than a revived BTC-e? If I had a gun to my head I would simply because they've managed to keep functioning despite their slackness and idiocy in choosing who they entrust money to.

All the same I wouldn't deposit a poo into Bitfinex either. I would assume there might be some redress if it all went wrong. This thread is a demonstration of that not being the case with BTC-e.

squatter

legendary

Activity: 1666

Merit: 1196

STOP SNITCHIN'

Quote from: gentlemand on June 16, 2019, 05:08:53 AM

Bitfinex at least has some identifiable people involved and seems to have some unfathomable form of cred with people willing to throw money at its various sad schemes. BTC-e and children is 100% opaque. Any revival would be throwing money into a black hole and hoping for the best.

Is this the same Bitfinex whose CFO said they "bank like criminals?" The same Bitfinex who just lost $850M in a bank seizure by law enforcement? The same Bitfinex whose CEO is a ghost that nobody has ever seen before? The same Bitfinex whose longtime CSO (Phil Potter) resigned as regulatory scrutiny, allegations of criminal market manipulation and other legal problems piled up last year?

WEX.nz may have been on the extreme end of things regarding their lawless mentality, but Bitfinex is very close behind them. Anyone with significant funds on deposit at Bitfinex or Tether is surely playing with fire!

Topic: WEX.nz - page 2. (Read 62362 times)