According to the BBC, the FSB may have been associated with the collapse of the Wex cryptocurrencies stock exchange in 2018 and the disappearance of 450 million dollars in bitcoins and other cryptocurrencies. One of the founders of Wex claims that it was forced to transfer FSB cryptocurrencies belonging to the clients of the stock exchange.

The FSB has taken over the funds of Wex’s clients?

The BBC claims to have access to a report from an ongoing investigation in Russia, which shows that Alexey Bilyuchenko, co-founder of the no longer existing stock exchange, Wex, was (according to him) taken to the offices of the Federal Security Service (FSB) in Moscow in early 2018. According to him, he was then forced to donate detailed information drives to access the wallets of all stock exchange clients containing Bitcoins (BTC) and other cryptocurrencies with a total value of about 450 million dollars. He was told that the money would go to the ‘FSB fund’.

A few months later, Wex’s customer withdrawals were suddenly frozen and at the end of 2018 the stock exchange was finally closed. Now, thanks to the BBC we can assume what happened to the 450 million dollars owned by the users of the stock exchange. However, there is no certainty as to what actually happened to these funds. The FSB refuses to comment on this.

Wex is the successor to the BTC-e stock exchange.

Wex Exchange was established in 2017, after the FBI closed one of the largest cryptocurrency exchanges in the world, i.e. BTC-e, and its founder, Alexander Vinnik, was arrested in Greece. Vinnik is indicated as the person behind the famous hacking attack on the stock exchange Mt. Gox. The closure of BTC-e, co-founded by Bilyuchenko, is the result of an investigation by the U.S. Department of Justice, which accused the stock exchange of money laundering on a huge scale. It is estimated that about 4 billion dollars were washed through BTC-e in the years 2011-2017.

According to the aforementioned report, the database of the closed BTC-e exchange, later used Bilyuchenko to establish another exchange, namely Wex, which promised the injured users of the former to recover the lost funds. As already mentioned, this one was also closed shortly afterwards.