The users of the long-term exchange of cryptocurrencies WEX began to file police reports after more than three months they were unable to remove the main cryptocurrencies or Fiats.
A WEX merchant named Ruslan encouraged other users to seek a formal investigation. So far, up to 35 reports have been received through the website of the Ministry of Internal Affairs of Russia. At least seven such reports have been filed since October verified on the website of the Ministry of the Interior.
The fact that users of cryptocurrency exchange, who acted on the periphery of the market, turned to the government for help, is remarkable in itself. WEX was built on the ashes of the BTC-e, a mysterious, long-term exchange that eventually collapsed after US officials seized his domain and then spanked the BTC-e and its suspected operator with a huge fine of $ 110 million.
But this summer, the initial enthusiasm for what was actually the rebirth of BTC-e gave way to growing complaints about withdrawals, which manifested itself in high prices, far exceeding those reported on better-known exchanges. These problems continue to this day, with the price of USDT – a controversial stable coin that lost its parity with the US dollar last week – bargaining for WEX $ 6.99.
Thus, WEX traders – after several months of demanding responses (the last WEX public post on Twitter was published at the end of August) – take matters into their own hands, looking for an investigation in an attempt to get their money back. Moreover, recent events continue to be troubling the questions about who actually works with WEX and protects users’ funds.
Ruslan hopes to force law enforcement agencies to take action against WEX Director General Dmitry Vasilyev and “his conspirators” so that they do not initiate any new projects in cryptography.
“The main idea was to show other users that they are not alone, that we can act together and fight for our rights in a legal way,” he said.
Of course, users say that since the trouble started, they have been able to remove some coins from WEX, but with a very high cost.
In particular, cables (USDT), zcash, namecoin and peercoin were available for withdrawal. But their WEX prices are extremely high compared to the rest of the market, so buying them just to get money from the platform is an expensive proposition.
Other kryptons also support unusually high price tags on WEX, with Bitcoin trading at $ 8,602 (compared to about $ 6,450) and broadcasting at $ 319 (about $ 204).
At some point, around the end of July, the removal of the feats was open, but with a commission of up to 45%. Even at this price, some users in the WEX online chat rooms said they were considering withdrawing their money, because the longer they waited, the less they trusted the management of the exchange. But now even this option is no longer available.
It was at this time that it became known that the owner and CEO Dmitry Vasilyev was going to sell the stock exchange to Dmitry Khavchenko, a militia militia in eastern Ukraine. After that, Vasilyev did not control the exchange and the administrators did not communicate with him. The identity of the administrators of the exchange, as well as those who actually store the funds of users, have never been opened.
Khavchenko said last week that the deal was signed and the money was transferred to the seller. Nevertheless, according to the accounting and corporate regulatory body of Singapore, where WEX is registered, since Monday Vasilev was still listed as the owner.
With merchants devastated by the situation, the volume of trade on WEX at one time in tens of millions fell to less than 1 million dollars a day.

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27.06.2019, 13:42