Following BTC-e’s seizure, a Bitcointalk account associated with the exchange started updating users on its situation, stating that the Russian national never worked at the exchange and that, despite the FBI’s seizure, the exchange still controlled 55% of user funds. The exchange said it would reimburse the remaining 45% by issuing a token similar to the one issued by Bitfinex.
The admin behind the forum account had previously stated that the exchange would rebrand and relaunch on September 15, and so it did, as WEX (World Exchange Services). The new platform is a copy of BTC-e’s old trading platform and has a 1,252 BTC trading volume at press time. The website’s front page includes a message titled “Wex Rising”, and in it the exchange’s team thanks users for supporting them.
The message also adds that WEX is going to operate in full compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations, which would avoid the mistakes that allegedly led to BTC-e being taken down in the first place.
WEX’s team tries to distance the new exchange from BTC-e, by stating that the company didn’t cooperate with the downed Russian exchange, nor did it receive funds from it. Nevertheless, it thanks, BTC-e’s team for being professional in transferring user data.
The announcement reads:
“We would also like to thank the technical team of btc-e for their professional help of transferring digital profiles and data of users and also want to emphasize that our company did not cooperate with BTC-E Always Efficient LLP in any way and did not receive their funds.”
Furthermore, WEX revealed that its tokens will be credited to existing BTC-e users, and that customer withdrawals will have set daily limits. For the next few days, the platform will work in a test mode for “general security reasons.”
WEX ‘s VIP section
Recently, before rebranding to WEX, BTC-e began distributing customers’ Bitcoin Cash tokens and allowing withdrawals. To facilitate the process it launched a support tool, as various users complained that they were either unable to log in, or unable to collect their funds.
The announcement adds that due to popular demand, the platform will launch a VIP section for users who wish to trade with large sums of cryptocurrencies. Those who wish to deposit or withdraw amounts worth over $100,000 are asked to contact BTC-e’s support.