News

Defunct Crypto Exchange Wex Appears 10,000 BTC Transfer

10,000 BTC were taken out by an unidentified owner of a Bitcoin wallet connected to the now-defunct Wex exchange, which was previously the biggest cryptocurrency exchange in the Russian-speaking market.

Sergey Mendeleev, the creator of the cryptocurrency exchange Garantex and the CEO of the defi banking network Indefibank, was the first to observe the transfer of digital currency. The finding was made public on his Telegram channel, according to a report from the most reputable Russian cryptocurrency news website Bits.media. On November 23, the coins migrated.

The last time money left this Bitcoin address was in September 2017, when the exact same amount was paid out.

Mendeleev revealed in November of last year that the Russian Ministry of Interior had ignored requests from Wex users to assist in the freezing and seizure of cryptocurrency cash withdrawn from an exchange-controlled wallet.

More than 10,000 ETH, which at the time was valued over $46 million, were taken out and moved to other platforms.

Wex was created in 2017 as a result of the demise of BTC-e, which shut down after one of its operators, Alexander Vinnik, was detained in Greece. The Russian IT expert, who is presently in American detention, is charged with using the exchange to launder up to $9 billion.

Wex’s 2018 demise resulted in a $450 million loss. The system is regarded as a BTC-e replacement since it purportedly handled proceeds from the Mt. Gox hack and other online crimes. It was run by World Exchange Services, a Singapore-based business that Aleksey Bilyuchenko, a previous business colleague of BTC-e administrators Alexander Vinnik, helped co-found.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

1 hour ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

3 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

3 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

3 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

4 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

5 hours ago

This website uses cookies.