Something Strange Is Going On at a Crypto Exchange Called WEX

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Summary

As of this writing, the USD price of bitcoin on WEX was $7,451, more than $1,200 higher than the price recorded on CoinDesk's Bitcoin Price Index (BPI). Stepping back, WEX was launched last year in an apparent effort to resurrect BTC-e, a long-running bitcoin exchange that was targeted and eventually shut down by U.S. and Greek law enforcement officials. A third user, Hasan Gusseynov, asked the exchange, in Russian, "When will everything be ok?" WEX denied that the exchange is going to be sold on Twitter, and the exchange did not immediately respond to questions regarding who is in charge or why, exactly, its prices shot up earlier this week. Observers say the anomaly could have been due to a number of reasons, from recently-raised fiat withdrawal fees on the exchange to suspicions of insolvency.

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Users of WEX, the cryptocurrency exchange built on the ashes of BTC-e, are reporting withdrawal problems, raising new questions about an already mysterious trading platform.

"‏Dear Wex, when withdraws will enable ??" asked Twitter user Alireza Moosavi on Friday, joining a crowd of Wex customers complaining they couldn't withdraw their funds for the second day in a row.

Ehsan Mahmoodi similarly inquired, "hello, why withdrawal is disabled?"

A third user, Hasan Gusseynov, asked the exchange, in Russian, "When will everything be ok?"

The user complaints follow odd trading activity observed on the exchange. Earlier this week, CoinDesk reported that the price of bitcoin...

Read the full article @ Coindesk