• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight

Bitcoin Price Spikes to $9000 on WEX – Signs of Bankruptcy or Exit Scam?

Osato Avan-Nomayo
by Osato Avan-Nomayo
7 years ago
·
Posted in Markets and Prices, Bitcoin, Bitcoin Exchange, News, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The price of bitcoin on the WEX cryptocurrency exchange platform climbed to $9,000 amidst fears of another cryptocurrency exit scam. 


Bitcoin Climbs to Nearly $9,000 on WEX

Yesterday, Bitcoin [coin_price] traded between $6,300 to $6,400 on most cryptocurrency exchange platforms. However, on WEX, formerly known as BTC-e, the top-ranked cryptocurrency was priced at nearly $9,000.

The price spike happened within a two-hour period from 16:00 UTC to 18:00 UTC. Within that period, the price of BTC jumped from $7,800 to $8,999 on the platform.

https://www.tradingview.com/x/ZxwcnF5X/

WEX Bitcoin Premium

Forget KimChi premiums. The Bitcoin price variance on WEX makes the premiums in the South Korean markets look like child’s play. Before the spike, BTC traded on the platform at $7,800 — which was 22 percent higher than the global average’s BTC price at the time.

WEX isn’t exactly one of the more popular exchanges in the market. Its daily trading volume is about $39 million, according to CoinMarketCap.com. This figure is several orders of magnitude less than the likes of Binance, OKEx, Huobi, Coinbase, etc.

The emergence of such a significant variance in a short space of time has led some to suggest that there might be some underground shenanigans at play. The likely explanations are that the platform is insolvent or that the WEX team is looking to pull off an exit scam.

At the time of writing this article, WEX has yet to issue any statement on the Bitcoin price spike. According to a Twitter post, the platform plans to undergo a scheduled maintenance today. All account functions are expected to be suspended during the exercise. The price of BTC on the platform is currently $7,800.

The BTC-e and Alexander Vinnik Connection

WEX is no stranger to controversy. A year ago, Alexander Vinnik, an employee of the platform at the time, was arrested in Greece. Vinnik was accused of using BTC-e as a front for laundering money for suspected hackers and drug traffickers.

Since his arrest, Vinnik has survived a failed assassination attempt while being the subject of an extradition tug-of-war between Russia, the United States, and France. In the aftermath of the Vinnik saga, BTC-e rebranded itself as WEX.

Do you think the Bitcoin price premium on WEX points to the platform’s imminent insolvency, or is it an exit scam? Let us know your views in the comment section below! 


Image courtesy of Shutterstock, WEX, and Bitcoinist archives.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Osato Avan-Nomayo

Osato Avan-Nomayo

Follow

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Full Profile

Related Posts

Bitcoin

Over 1 Million In Bitcoin Locked In Treasuries As Institutions Pour In $1 Billion

17 hours ago
Bitcoin

$5 Billion Bitcoin Treasure Tied To Piracy Website Found In German Wallets

21 hours ago
Bitcoin

Bitcoin Indicator Re-Enters Accumulation Zone After 147 Days – Details

1 day ago
Bitcoin

$6B In Bitcoin: Marathon Digital Treasury Now 2nd-Largest Among Public Firms

1 day ago
Bitcoin

Bitcoin Miners Still Under Pressure In 2025 — How Long Can They Hold?

1 day ago
Bitcoin

Analyst Says All Bitcoin Price Uptrend Are Duds Unless This Happens

2 days ago
Please login to join discussion

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    2 days ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    2 days ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    2 days ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    3 days ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.