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Binance Freezes Funds With Suspected Money Laundering Links From Controversial Exchange WEX






Binance Freezes Funds With Suspected Money Laundering Links From Controversial Exchange WEX

Binance Freezes Funds With Suspected Money Laundering Links From Controversial Exchange WEX
Binance Freezes Funds With Suspected Money Laundering Links From Controversial Exchange WEX

Troubled cryptocurrency exchange WEX.nz has seen its funds frozen by fellow exchange Binance when users claimed the exchange was concerned in concealment, chief executive officer Changpeng Zhao confirmed on social media Oct. 29.
In response to associate alert by a web dealer called John James on Twitter, Zhao aforementioned Binance had isolated funds sent from wallets related to WEX.

"[T] he known accounts area unit frozen, please report back to enforcement and have a case range. we'll work with autoimmune disease [law enforcement], "Zhao wrote within the tweet.

"This is a component of centralization we have a tendency to hate too, handling different exchange's mess (we do not even forgive the details). however we'll do what we are capable to, "Zhao continued in his tweet Mon.

He added that laundered funds would "soon" use localized changes to avoid freezes ancient platforms area unit ready to instigate.

The tilt caps associate progressively precarious state of affairs at Russian-based WEX, that owner Dmitrii Vasilev beaked as a innings to the defunct BTC-e once it took over its system last year.

BTC-e remains subject to a large $ 4 billion fraud investigation by Ellas and U.S., with alleged founder Alexander Vinnik still in custody following his arrest in Gregorian calendar month 2017.

WEX short began exhibiting suspicious hits once it began operational, with costs of Bitcoin considerably larger on its order book than world norms.

At press time, BTC / USD on WEX.nz was quoted at $ 8,547 - thirty five p.c more than the CoinMarketCap average.

In July, WEX patently halted withdrawals of funds altogether, tho 'claiming to own completed upkeep, resulting in claims from users in social media that the exchange was a "scam."

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