Wex.nz changes domain to wex.sc
Several months of agonizing anticipation and uncertainty, rumors and speculation about the operation of the wex.nz cryptocurrency exchange were resolved in the most unexpected way. The service has moved to a new domain wex.sc and resumed the withdrawal of cryptocurrencies. Exchange operations are planned to be restored soon.
The sensational story of the suspension of WEX began in July 2018 with the appearance in the media of information about the sale of the resource. The subsequent gradual increase in the fee for withdrawing fiat funds caused panic among users. They began to quickly withdraw money. The resulting commotion further rocked the situation and heated up the rates.
The site administration responded to the excitement by completely closing the withdrawal of major cryptocurrencies. She explained her actions by performing technical work on the servers. It gradually became clear that such actions were caused not only by the desire to extinguish confusion among clients and the avalanche-like outflow of funds. The situation on the stock exchange was more serious than it seemed.
At the end of July, it became clear that the site had big problems. Withdrawals have been frozen. There were no explanations or predictions. The rates of cryptocurrencies still available for withdrawal increased 4 times, and clients of the service even agreed to such conditions. The administration avoided questions or referred to ongoing technical work.
Finally, in August 2018, a meeting was held at Blockchain Hub Kyiv between the founder of the Kuna bitcoin exchange, Mikhail Chobanyan, and the nominee director of WEX, Dmitry Vasilyev. An official of the problematic service outlined his vision of the situation. The appearance of the resource representative calmed the clients a little, but did not clarify the ways to solve the problem.
In the conversation, Vasiliev confirmed the information about the sale of the wex.nz exchange, but noted that the deal had not been completed. The listeners got the impression that the cause of the problems was an attempt to change the management of the resource. Whether this was initiated from the outside or whether there was an internal split within the administration remained a mystery.
September 2018 brought new information. The service's previous management lost control of the servers and the wex.nz domain, but retained the accounts and funds stored in the system. It was not possible to reach an agreement with the new owners.
The former owners of the site moved the exchange to a new domain wex.sc and resumed the withdrawal of cryptocurrencies. After the successful launch of the service, a gradual restoration of exchange operations is expected. The fate of wex.nz is unclear. Most likely, the site, left without the means and ability to pay off debts to clients, will be closed.
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