Share this article
Meet WEX: Bitcoin Exchange Launches for BTC-e Users with BTC-e Design
A new exchange is courting users of the now-defunct BTC-e exchange, but it bears a striking resemblance to its illicit predecessor.
By Nikhilesh De
Updated Sep 13, 2021, 6:56 a.m. Published Sep 15, 2017, 10:05 p.m.
Make us preferred on Google
BTC-e appears to have successfully launched a new bitcoin exchange platform.
Announced today via Twitter, WEX is allegedly the result of a months-long effort by the bitcoin exchange to return service to customers after it was raided and fined by US authorities in July. But despite its new URL, the WEX website notably mirrors the old BTC-e website in design, functionality and trading pair options.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Further, in a welcome message on its new website, WEX sought to differentiate itself from the BTC-e website, claiming that it is unrelated to that company. Despite having migrated over all the exchange's former users, the platform claims the technical teams behind the exchanges are different.
Adding to the claims is that the new website stated that it did not receive any funds from BTC-e, while at the same time alleging that it would abide by anti-money laundering and know-your-customer laws.
In the welcome message:
"We thank all ex-users of BTC-E for their patience at such a difficult moment for all of you guys. We on our part have spent a lot of efforts and energy to create a new platform for trade in the shortest time limits."
For the next three to seven business days, WEX will operate in a test-mode. Users will receive bonus crypto-tokens for transferring balances.
Still, the result is a follow-through on previous claims by BTC-e. The original website announced on Thursday that the "address of the new platform [would] be announced in btc-e twitter [sic].") Further, BTC-e said in August that it would relaunch on September 15.
Upcoming steps in its relaunch process include restructuring its assets and undergoing an audit to confirm the new exchange is in compliance with laws and regulations for money exchanges.
Image via Shutterstock.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
HYPE token's 30% surge is a story of crypto-traditional market convergence, treasury firm says
HYPE has surged 30%, outperforming bitcoin, ether and the CoinDesk 20 index by a big margin.
What to know:
- Hyperliquid's HYPE token has surged more than 30% to $33, far outpacing bitcoin, ether and the broader crypto market, as trading activity on the platform accelerates.
- The token rally represents the merging of traditional assets with the crypto world, according to Hyperion DeFi, which is a HYPE treasury company.
- Originally a crypto perpetuals exchange, Hyperliquid has expanded into tokenized trading of equity indices, individual stocks, commodities and major fiat pairs via its HIP-3 upgrade.
Top Stories
