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Police Filings Mount as Crypto Traders Demand Funds Stuck in WEX Exchange

Published 10/22/2018, 09:07 PM
Updated 10/22/2018, 09:45 PM
© Reuters.

Users of the long-troubled cryptocurrency exchange WEX have begun filing police reports after more than three months of being unable to withdraw major cryptocurrencies or fiat, CoinDesk has learned.

A WEX trader named Ruslan, who has been encouraging other users to seek an official investigation, told CoinDesk that as many as 35 such reports have been filed thus far online through the website of the Russian Interior Ministry. At least seven such reports have been filed since October, based on confirmation numbers reviewed by CoinDesk and checked against the Interior Ministry's website.

The fact that users of a cryptocurrency exchange that has operated at the fringes of the market would seek help from the government is itself notable. WEX was built on the ashes of BTC-e, the mysterious, long-running exchange that ultimately collapsed after U.S. officials seized its domain and then slapped BTC-e and its suspected operator with a massive $110 million fine.

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