In recent developments, the WEEX exchange has become aware of a concerning issue related to a fraudulent scheme known as "WeekDeFi," which operates as a Ponzi scheme. It is important to note that there is no connection between this illicit platform and the legitimate licensed futures trading platform, WEEX, despite their strikingly similar names.
As early as December of last year, the WEEX official website issued an article exposing the deceptive practices employed by WeekDeFi through online social interactions, highlighting its involvement in Ponzi fraud. An individual named Zhang Lei fell victim to this scheme after being recommended by an online acquaintance, who introduced them to the WeekDeFi trading platform. While the promised returns seemed enticing, Zhang Lei faced numerous obstacles when attempting to withdraw funds. To make matters worse, they were coerced into making excessive payments under the guise of "taxes," "fees," and "deposits." Despite investing over 40,000 USDT, Zhang Lei experienced significant losses without any returns.
Additionally, the WEEX blog explicitly warns users about the existence of fake and misleading platforms falsely associating themselves with WEEX, such as weekdefi, weexcp, weexlua, weexart, weexbr, and weexth. It is crucial for users to discern the genuine WEEX platform by visiting its official website, weex.com, and remain vigilant against falling prey to scams.
Despite these warnings, WeekDeFi continues to defraud unsuspecting individuals. Media reports indicate that this counterfeit platform masquerading as the WEEX futures exchange entices landlords into engaging in cryptocurrency trading under the pretense of property rental. Several landlords have been persuaded to invest substantial amounts, totaling over 3 million RMB, only to discover that their funds are inaccessible.
WeekDeFi exemplifies the characteristics of a typical Ponzi scheme, with scammers operating online under different disguises to lure victims and utilizing various tactics to prevent fund withdrawals. Victims have been subjected to demands for a 30% "tax" upon withdrawal or coerced into providing a 20% "security deposit." Unfortunately, these requests serve as mere excuses to hinder the withdrawal process. As a result, attempting to retrieve funds from WeekDeFi is virtually impossible, rendering it a deposit-only platform with no returns.
At present, the official website of the fraudulent platform, WeekDeFi (weekdefi.com), is inaccessible. It is crucial for individuals to exercise caution and remain cautious of engaging with any suspicious platforms claiming affiliation with WEEX in order to avoid falling victim to scams. The genuine WEEX platform can be exclusively accessed through its official website, weex.com.
WEEX has conducted extensive research into the domain in question using WhoisDog and has made significant discoveries. The investigation reveals that this specific domain (weekdefi.com) was registered as recently as September 1, 2022, indicating a potential short-term operational intention.
As a result of this diligent research, WEEX urges users to exercise caution and emphasizes that the official website for the exchange is exclusively located at weex.com. When downloading and installing the highly recommended WEEX app, it is crucial to utilize the authorized download channels provided on the official website or search for "WEEX" on the official iOS/Android app stores. It is essential to avoid visiting unfamiliar websites or downloading apps from unknown sources.
It is important to note that WEEX does not impose any restrictions on the withdrawal of user funds, nor does it require users to make payments labeled as "taxes," "security deposits," or "fees." Withdrawals of all supported currencies on the WEEX platform are processed promptly and efficiently. Should users encounter any difficulties, they can reach out to the WEEX official website, utilize the online customer service available in the bottom right corner of the app, or seek assistance from administrators within the global WEEX community.
By conducting thorough investigations such as utilizing WhoisDog, WEEX ensures that users are well-informed and protected while engaging with the platform. Trust in the secure and reliable services provided by WEEX, where user satisfaction and safety are top priorities.
About WEEX：
WEEX is a renowned futures trading platform known for its strong focus on security and user-friendly features. Since its establishment in 2018, WEEX has gathered over one million loyal traders, drawn to its exceptional functionality and seamless user experience. The platform employs advanced measures to protect user data, ensuring secure overseas data protection.
To expand its global reach, WEEX maintains an accomplished international team dedicated to enhancing operations and catering to diverse traders. With licenses from respected regulatory bodies including the US MSB, Canadian MSB, and Saint Vincent FSA, WEEX upholds the highest standards of professionalism, security, and privacy.
In line with its commitment to safeguarding user funds, WEEX has established a robust investor protection fund of 1,000 BTC. This additional security measure ensures the safety of users' assets, even in unforeseen circumstances. WEEX prioritizes transparency by publicly disclosing the hot wallet addresses associated with the fund, fostering trust and accountability.
Experience unparalleled trading with WEEX, where cutting-edge security, intuitive interfaces, and a global strategy converge. Discover the limitless possibilities for your futures trading ambitions with WEEX today.