Recently, the WEEX exchange has taken notice of media exposure surrounding a fraudulent scheme called "WeekDeFi," which operates as a Ponzi scheme. It has been inadvertently implicated by the striking similarity between the name of this illicit platform and the legitimate licensed futures trading platform WEEX.
In fact, as early as December of last year, the WEEX official website published an article revealing the trap set by WeekDeFi through online social interactions to carry out Ponzi fraud. An internet user named Zhang Lei was recommended by an online acquaintance, a female friend, to use the WeekDeFi trading platform. Despite seemingly high profits on paper, Zhang Lei encountered repeated refusals when attempting to withdraw funds. Furthermore, they were lured into paying exorbitant amounts as "taxes," "fees," and "deposits." Zhang Lei ended up investing over 40,000 USDT, only to lose it all without any returns.
Moreover, the WEEX blog prominently warns that platforms such as weekdefi, weexcp, weexlua, weexart, weexbr, and weexth, claiming association with WEEX, are fake and misleading. These platforms have no affiliation with the legitimate WEEX platform. Users are urged to identify the true WEEX platform by its sole official website, weex.com, and to guard against falling victim to scams.
Despite these warnings, WeekDeFi continues to defraud unsuspecting users. According to media reports, the counterfeit platform WeekDeFi, posing as the WEEX futures exchange, entices landlords to engage in cryptocurrency trading on its fraudulent platform under the guise of property rental. Several landlords were persuaded to invest over 3 million RMB into WeekDeFi, only to find themselves unable to withdraw their funds.
WeekDeFi epitomizes the classic Ponzi scheme, with scammers not only lurking online under various disguises to attract victims but also employing various tactics to deny withdrawals. Victims have been asked to pay 30% "taxes" upon withdrawal or pressured into providing 20% "security deposits." However, these demands are mere excuses by the fraudulent platform to prevent fund withdrawals. In essence, attempting to withdraw funds from WeekDeFi is virtually impossible, rendering it a platform where deposits go in but no returns come out.
Currently, the official website of the fraudulent platform WeekDeFi, weekdefi.com, is inaccessible.
A WhoisDog search revealed that this domain was registered as recently as September 1, 2022, with no intention of long-term operation.
WEEX urges users to exercise caution and emphasizes that the only official website of the exchange is weex.com. When downloading and installing the app, users must exclusively use the download channels provided on the official website or search for "WEEX" on the iOS/Android official app stores. It is crucial to avoid visiting websites or installing apps from unknown sources. WEEX does not impose any restrictions on user fund withdrawals, nor does it require users to pay "taxes," "security deposits," or "fees." Withdrawals for all currencies on the WEEX platform are promptly processed. Users facing any issues can contact the WEEX official website or use the online customer service in the bottom right corner of the app, or seek assistance from administrators in the global WEEX community.
WEEX has gained widespread recognition as a premier futures trading platform, renowned for its exceptional emphasis on security and user-friendliness. Since its inception in 2018, WEEX has swiftly garnered a loyal following of over one million traders, drawn to its unparalleled features and seamless functionality. One aspect that sets WEEX apart is its unwavering commitment to safeguarding user data. The platform employs state-of-the-art measures to ensure secure overseas data protection. This meticulous approach instills trust among users, who can confidently navigate the platform knowing their information is fortified against any potential threats.
To further enhance its global presence, WEEX boasts an accomplished international team of experts, continuously striving to expand operations and cater to a diverse range of traders. This dedicated team works diligently to deliver a streamlined and superior trading experience to users around the world. Solidifying its position as a leader in the industry, WEEX has obtained licenses from esteemed regulatory bodies such as the US MSB, Canadian MSB, and Saint Vincent FSA. These licenses lend credibility and reassurance to users, affirming that WEEX adheres to the strictest standards of professionalism, security, and privacy when it comes to offering trading services.
In line with its resolute commitment to protecting user funds, WEEX has established a robust 1,000 BTC investor protection fund. This substantial fund provides an added layer of security, ensuring that users' assets are safeguarded even in unforeseen circumstances. In a show of transparency, WEEX also publicly discloses the hot wallet addresses associated with the fund, fostering trust and accountability.
With WEEX, traders gain access to an unparalleled trading experience that seamlessly combines cutting-edge security measures, intuitive interfaces, and a forward-thinking global strategy. Discover the power of WEEX today and unlock a world of limitless possibilities for your futures trading ambitions.