What exactly do you do with our deposits, and what is your exposure to Three Arrows Capital?

Dear Wirex,
I’m sure you have noticed that some crypto companies are going insolvent, and this is spreading contagion across the crypto lending industry. Customers are pulling their deposits out of companies that are deemed risky, or not transparent enough. Me and others are trying to evaluate whether Wirex is a safe place to keep our assets.

With this in mind, can you please answer the question below. Please answer all the questions directly. Note that in the following questions, “customer” refers to retail clients who have deposits of crypto assets in Wirex in a digital or X-account:

  1. What exactly do you do with customer crypto deposits into normal Wirex Accounts? Do you lend this money to others, or do you custody these assets with a third party in exchange for revenue? If so, who?

  2. What exactly do you do with customer crypto deposits into Wirex X-Accounts? Do you lend this money to others, or do you custody these assets with a third party in exchange for revenue? If so, who?

  3. If you loan our crypto assets to a third party, are the loans collateralized or uncollaterized?

  4. If you loan our crypto assets to a third party, and the third party goes insolvent and can’t repay the assets you have loaned to them, how does this impact your customer’s

  5. Are Wirex customers who deposit into either your normal crypto accounts or X-accounts categorized as unsecured creditors?

  6. Do you have any exposure to Three Arrows Capital?

Thanks

7 Likes

@moderators :heart:

pull out of Wirex as soon as possible, their in-app customer support makes up things & their email customer service moves slower than a glacier, plus they retain the right to do what ever they please with your WXT without notice after the fact (unless you ask them), left alone a heads-up BEFORE stealing your tokens.

1 Like

@moderators I have not received a reply from you regarding my questions. Please engage your management and provide a response.

Thanks

2 Likes

hello @wirexisl youll get a reply once theres an update :heart:

@wirexisl Please let me assure you that the issue has not been forgotten and the relevant team is currently working on it.

really interesting questions, waiting Wirex official reply…

@etabeta Please clarify your request so that we can address it.

Thread starting multi question by @wirexisl is direct and straight to the point; a 1 to 1 direct answer will be perfect :wink:

1 Like

https://wirexapp.com/en/help/request/create please create newly ticket and team will look into it immediately

Yes i lost all my wxt with no warning. Signed up 2 friends and no referal bonuses either.