wex.nz management announced the resumption of work
The management of the Wex.nz exchange announced an important decision to unblock the withdrawal of funds and readiness to resume trading on the domain wex.sc.
In the summer of 2018, clients of the Wex.nz exchange had problems with withdrawing funds, plus the exchange rate of the internal Wex dollar against cryptocurrencies increased sharply. The popular project has stalled. Now the updated exchange is restoring its work, investors have the opportunity to return their money.
The root cause of the emergency situation that happened in July of this year on the Wex exchange was a publication in RBC, which reported a change of owner. From it, participants in the Russian and CIS cryptocurrency market learned that Wex.nz was for sale. The new owner was a man under the pseudonym “Sailor”, who is related to the Donetsk People’s Republic. Information that came “from the outside” against the backdrop of silence from official representatives of the resource led users to confusion. Under the influence of panic, in fear of losing their money, investors began massive withdrawals of funds from their accounts. The withdrawal commission and the internal exchange rate of the wex-dollar began to increase very quickly.
To prevent the collapse of the exchange, the withdrawal of major cryptocurrencies was closed under the pretext of technical work. In fact, the problem was different. At the end of July, the situation around Wex.nz continued to worsen. The rate of cryptocurrencies remaining available for withdrawal has quadrupled. Attempts by users to find out what will happen to their money were unsuccessful. Official representatives of the exchange either did not comment on what was happening or left messages about the continuation of technical work. In August, at the Blockchain HUB Kyiv site, Mikhail Chobanyan, head of the Kuna exchange, interviewed Wex director Dmitry Vasiliev, which appeared in the Internet media.
Investors awaiting clarification of the situation with the Wex.nz exchange, having become acquainted with Vasiliev’s interview, did not learn anything new. Dmitry answered the interviewer's questions in general phrases, avoiding specifics. Meanwhile, he confirmed that the exchange was indeed being prepared for sale, but the deal did not take place. After this, many versions of what was happening appeared on the Internet, from a conflict of interest between the organizers of Wex, to an attempt to seize control of a popular resource by third parties. Only in September, interesting information was received from credible sources that the server and domain wex.nz had a new owner, and all financial assets of the exchange remained under the control of the former administration.
An analysis of the situation led to the conclusion that the work of the exchange could be resumed only on the condition that the “two camps”, one way or another involved in Wex, establish relations and are able to agree on cooperation. However, everything happened completely differently. The old management, which owns the key resources of the exchange, simply placed them on new servers and launched the project at the new address wex.sc. Immediately after the launch of the updated version of the exchange, withdrawal of funds became available to investors. They promise to launch trading soon. The only unknown today is the future of wex.nz. According to experts, the previous version of Wex will be closed because it does not have the ability to pay off debts with clients. In turn, the successful start of wex.sc gives reason to believe that the exchange will quickly restore its good reputation and continue to work in the interests of its investors.
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