Wex.nz launches on Wex.sc domain and restores reputation
Wex.sc is the new address for the cryptocurrency exchange wex.nz.
In July 2017, the largest Russian-language cryptocurrency exchange at the time, BTC-e, ceased operations. The FBI seized its servers, shutting down the platform. In September, a new exchange, Wex.nz, offered its services to clients , taking over the liabilities of the failed BTC-e.
The creator of Wex.nz was a native of Minsk, Dmitry Vasiliev, one of the largest clients of BTC-e. All lost user funds were transformed into debt tokens, which should subsequently be redeemed by the exchange 1 to 1 to the token currency. The new platform began active work, and by the end of 2017 it entered the second ten largest cryptocurrency exchanges in the world - its daily turnover exceeded $80 million.
In July 2018, disagreements arose within Wex.nz's senior management and management team, which led to a number of issues. The withdrawal of a number of cryptocurrencies was stopped, which has not yet been resumed. The exchange rates of the currencies that remained available for withdrawal deviated sharply from the market average. Investors lost up to 3/4 of their funds trying to withdraw the money they invested during the heyday of the exchange. Reliable information about the processes taking place in the management of Wex.nz remains unavailable. Technical support remains silent in response to numerous requests, official statements are not published, and the prospects for the site remain unclear. Against this background, the message about the resumption of work of the cryptocurrency exchange looks like a ray of light - on the new domain wex.sc, and with completely preserved client funds.
New stage - revival of the exchange and restoration of reputation
This news is certainly welcome news for investors who used the wex.nz platform and are rightly concerned about the fate of their funds. Their funds are safe and can be used again. Management conflicts apparently led to the loss of control over the domain name and servers on which the exchange operated, so the transition to the new wex.sc domain is a necessary measure.
Currently, control over client bank accounts where fiat funds are stored and private keys to cold wallets remains with the old management.
The old platform, currently available at Wex.nz, will most likely cease to exist due to the fact that there is simply nothing to pay off investor deposits, and wex.sc will confidently begin to restore its reputation.
English version :: Read in English Wex.nz launches on the Wex.sc domain and restores its reputation