What's going on over at wex.nz? | Bitcointalksearch.org

lateblooming

sr. member

Activity: 295

Merit: 250

Quote from: Cryptopher on July 24, 2018, 01:00:15 PM

If coin withdrawals are still disabled then it looks very bleak indeed.

are there any news on that?

Quote from: Cryptopher on August 05, 2018, 05:55:20 AM

As a result, the coins are still way off the market values.

That messes all the prices up on coinmarketcap...is there a similar site that wont take wex into consideration for their pricelists?
Namecoin for example - on coinmarketcap 1.30$ - then you look in the marketoverview and see nmc on poloniex for 0.55$ and on wex freakin 2.50$ wtf!? Why doesnt cmc kick wex out?
LOL $8.560,00 for a bitcoin on wex and litecoin 81.65$. I dont get it why they longer tolerate that nonsense.

Balthazar

legendary

Activity: 3108

Merit: 1358

https://wex.nz is a scammer's site which is pretending to be exchange. Once you deposited your funds, there is no way to get them back.

Hell-raiser

sr. member

Activity: 462

Merit: 515

Quote from: Coindgr on August 26, 2018, 07:04:41 AM

Any news about this? They have some new tweets, but it seems all the withdrawals are frozen, is this correct?

Withdrawals of most cryptocurrencies as well as fiat (except for USDT) are disabled at WEX right now. Only coins like ZEC and PPC can be withdrawn, which explains why they are traded at 400% premium to their average market price. They recently added Monero to the list of coins traded there, which you can both deposit and withdraw. It looks like the exchange was sold some time ago (their tweets are now decent English), but the new owners might not have received the keys from exchange cryptocurrency cold wallets.

That explains why withdrawals are frozen. No money today (and tomorrow).

Coindgr

hero member

Activity: 1034

Merit: 500

Any news about this? They have some new tweets, but it seems all the withdrawals are frozen, is this correct?

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Looks like things are still looking pretty dire over at wex.nz.

- Their Twitter is still silent
- No news posted on their exchange (perhaps there is news elsewhere?)
- Trading volume is super low
- Talk that the "owner" has no control over the exchange

As a result, the coins are still way off the market values.

There appears to have been some changes on the interface, but given that this is without any announcement it could count for very little.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Hmmm, I suppose I should steer clear of the exchange, at least for now.

I loved BTC-e, and was so relieved when wex.nz rose from the ashes, but the developments of late make for a very risky move to drop coins into the exchange. It's pretty much a year since BTC-e went dark, and I'm still feeling the burn.

If coin withdrawals are still disabled then it looks very bleak indeed.

btc_angela

hero member

Activity: 2604

Merit: 542

Simply price manipulation, as we all know that they came from the ashes of BTC-e. Or as what @BrewMaster, investors are likely converting their WEX to even tether or any other coins just to get out of this shady exchanges. Its a complete mess so expect a lot of complainings specially withdrawals in the next coming days.

BrewMaster

legendary

Activity: 2114

Merit: 1292

There is trouble abrewing

there has been some shady things going on over at wex.nz exchange for a while now.
first they started having some server problems.
then suddenly the withdrawals/deposits were disabled for all their coins. which was supposed to be fixed 2 days ago https://twitter.com/WEXnz/status/1018872081994436608 but i don't think it is fixed yet.
then suddenly they started having maintenance on their site without any prior warning https://twitter.com/WEXnz/status/1019864877568061440 and the site went down.

the rise is partly because people have been turning all their balances to bitcoin and then changing that for btc-e code (or wex code) and selling that code cheaper to get their money out because they fear an exit scam.
other part is possibly wex pumping bitcoin on their platform because nobody else is trading anymore so that anybody who buys has to pay a higher price to them and in case they come back they would have already made a lot of profit.

hugeblack

legendary

Activity: 2506

Merit: 3645

Buy/Sell crypto at BestChange

Some scenarios may explain this problem:

1. Technical problem/bug: I do not think this is the problem because I read about it several days ago but if the problem is a technical problem they will stop withdrawal/deposit temporary.
2. Price manipulation: Maybe it is manipulated by them.
3. High turnout: In the past, there have been some significant differences in price between South Korean and US trading platforms.

Support team is so terrible that their account is inactive for a while

EDIT found it ----> https://www.reddit.com/r/Bitcoin/comments/8xzdz6/wexnz_previously_btce_may_be_insolvent/

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Prices at wex.nz have been at a significant premium for some time now. Is there a lack of liquidity? Bank run? Lockdown on withdrawals?

Topic: What's going on over at wex.nz? (Read 184 times)