Quote from: Colorblind on October 31, 2017, 09:47:21 AM

Quote from: neotes on October 31, 2017, 02:21:25 AM

Quote from: aznatama on October 10, 2017, 02:03:29 PM

So apparently, to verify with Wex, you cannot reside or be a U.S. citizen. That means anyone who is in the U.S. will not be able to verify, and thus locked out of their accounts? =/

I am in the same situation since I am a US citizen. Wex has blocked my account which, originally was with BTCe. I requested Wex to return the funds in my account since I cannot maintain an account in the future under their new requirements for US citizens.

Wex made arrangements to take over the former BTCe client accounts.
Each client asset account has a corresponding custodial liability that they assumed along with the assets. From a legal standpoint, Wex is acting as a custodian for their clients funds. As such, they have a legal liability to return funds to the client upon request. If Wex refuses to return clients funds, I would deem it to be an act of fraud and theft. Wex is not the legal owner of said funds, and therefore, has no legal right to keep those funds for their own account.

They are using the excuse that the account is blocked if the client is a US citizen. If the account is blocked, then the client cannot access the account and process a withdrawal or any other type of transaction.
The reality is that it is not necessary for the client to actually process the withdrawal. All the client should need to do is make a request for withdrawal to the Wex exchange. The Wex administrators have the ability to access all accounts and process any clients withdrawal request, regardless if they are a US citizen or not. If necessary, Wex can get pre-approval from the appropriate regulators.

I believe there should be coordinated effort to submit complaints to a governmental/regulatory agency.
Does anyone have suggestions what agencies to submit complaints to?

I'm in no way endorsing WEX, and really sorry for what you are coming through, but you have to take some things into consideration.

From legal standpoint WEX is not BTC-e and even though they obtained BTC-e's digital assets (database and cold wallet) they did not took liabilities of BTC-e. Restoring btc associated with previous BTC-e accounts was done out of their good will (i.e. WEX wanted to continue being exchange, so they figured they will pay back to some of their users instead of just leaving with tons of BTC that will be really painful to cash). Basically this means that you are in a limbo - all obligations to store your property (afaik BTCs are considered a property, not funds in US) was taken by BTC-e and FBI siezed their assets (so legally speaking your property now is in FBI posession even though it is in form of encrypted and probably long time emptied cold wallet key). Meanwhile WEX denies (and probably will continue to deny) any responsibility even though they took over after BTC-e's demise.

Thank you for your reply. However, I think you made some assumptions that are contrary to basic legal principles for Wexs takeover of the BTCe Exchange.
And, your statements that WEX did not obtain any Client Funds and that they have no liability for Client accounts is also contrary to WEXs posted Update 5 on August 9,2017 and Update 6 on August 14,2017.

I agree, WEX is not BTCe. They apparently agreed to take over certain assets OWNED by BTCe, such as business operations, goodwill, computer related assets, etc. I would guess WEX did not assume any of BTCes General Liabilities which would include obligations to pay Loans, and Accounts Payable for goods and services purchased, etc. etc.

However, they did take over Custody of Client Assets. A custodial account is an asset of the Owner of the account, it is not owned by the Exchange (Wex nor BTCe). As such, the Exchange holds the asset for the Owner and has a liability to the Owner by Legal Definition of it being held in Custody. BTCe could only sell or transfer the business operations (Goodwill, Computer related assets, etc.) to Wex ,it could not sell the Clients Assets since BTCe did not own the Client Assets. Wex stepped in the shoes of being a Custodian and thus has a corresponding Liability to the Client Owner. You cant be a Custodian of an asset without also having a liability to the Owner of the asset. Its a basic Legal Principle.

With regards to your comment that the FBI is in possession of my asset, that is not correct (See WEX update statements below). True, that the FBI confiscated a certain amount of assets and assessed a Fine to be paid from the confiscated assets. And if the FBI took and retained 100% of the assets, then WEX would not have offered to pay 55% of a Clients account that could be withdrawn by the Client Plus tokens equal to 45%,thus acknowledging 100% (55% +45%) liability to Clients. If WEX did not receive any of the Client assets they would have offered ZERO to the Clients since there would be no assets to back up the accounts. Therefore, if WEX received 55% of a Clients account Funds they have a liability to that Client for that amount.
See extract of WEXs August 9 & 14,2017 updates 5 & 6 below where they confirm they received 55% of the Clients Funds and Clients will have opportunity to withdraw the 55% in Funds:
Per WEX update #5 .......Last 14 days we were engaged in struggle for your means, it was possible to gain control over 55% of funds, the remaining 45% are arrested funds, the most part in fiat.
Per WEX update #5 .......Upon all recalculations, all users will have the opportunity to withdraw 55% of their funds from the system.
Per WEX update #6........ For each currency, a recalculation will be made, for each individual account available assets.
At the moment 55% of funds are available, so 55% will be returned for all currencies, and 45% will be converted to currency in tokens.

See WEXs August 9, 2017 update #5 below, where they state 45% of the funds are arrested, meaning 45% is used to pay the fine and WEX will credit the Client with the 45% shortage to make them whole at 100% with Tokens (55% in Funds + 45% in Tokens):
Per WEX update #5 ........If you have a balance in BTE, then you will be credited with 45% in Tokens
Accordingly, WEX has confirmed they received and are in control of 55% of the Clients Funds. And, they have confirmed they have a liability to the Clients for 55% in Funds and 45% in Tokens.
I trust this clarification is helpful.