⚠️ Wirex Investors Group Action ⚠️

All Wirex Investors who have once again had their money taken by Wirex and who are unhappy about the treatment received from Wirex, please add your name to this thread.

We will appoint lawyers and recover our investments.

Having had numerous discussions with other Wirex investors outside of this platform, we have already sought legal advice and have also contacted Crowdcube trustees. The best way to tackle this is together.

@Wirex You have until Monday to put things right for all of your investors or we will be coming for you and our money.

Our current basic demands are as follows:
• Immediate refund of all subscription fees taken without notice and before the due date in the past 24hrs.
• Extension of the subscription plan (minimum 6 months) to cover all period lost due to unfulfilled contractual promises (as advertised in the investment pitch)
• Compensation for losses due to devaluation of WXT token, undelivered interest earnings and various other financial losses sustained by investors
• Full disclosure of up to date business plan, financial status, and layman’s terms update on recent changes to company structure and shareholdings status following the recent sale of shares.
• Shareholder update on current share valuation and financial forecast.
• Disclosure of impact and implications of Russia - Ukraine conflict on the Wirex business and details of any shareholdings and/or persons of significant control who are or are linked to sanctioned individuals/organisations.

Any other reasonable demands as provided by other shareholders in this thread will be added to the list in due course.

14 Likes

I really want Wirex to do well but when they’re this bad with contact and compensation with investors its hard to keep faith.

3 Likes

Keep calm need activate meccanism of communication

Count me in

Wirex team is trying to meet your needs guys.

Regards.

Do you work for Wirex?

Hi @seth

Thanks for getting in touch and for your list of demands. I will address the ones that I know now and then will update you accordingly once I get new, up to date information.

In terms of the subscription fees, was your account charged twice? If a fee was taken out before it was supposed to, you will need to send me a private message with your Wirex account email address so I can flag it to the support team.

All UK investors will get an extra 12 months free of whatever subscription plan they are on. Communications will go out with further details.

Compensation on “losses due to devaluation of WXT token, undelivered interest earnings and various other financial losses sustained by investors” - I will get clarity on this one. We are making sure that we are delivering. There has been a delay, for example launching in USA, but we have now launched there so we are and will continue to strive to deliver what we said. If there have been slight deviations, it is only to help Wirex thrive and grow to newer strengths. But again, I will come back with more clarification on this.

On further updates - we do a quarterly video update that covers most topics. We ask all investors to write down questions and we address them within that video.

In regards to the invasion in Ukraine, we have posted here … Announcement and Update
and this post here… Every Small Act Matters - Support Ukraine
There is a lot that is happening behind the scenes not just from the company as a whole but from employees as well, both of which, are doing everything they can to support Ukraine. We will continue doing so, as well as have initiatives launching to aid further support.

Thank you

2 Likes

Oh wow, I had no idea it is that bad… No wonder they can’t pay out promo rewards in time or ever. If they can’t even manage to uphold promises to investors, what kind of hope do we mere users of the service have?

1 Like

Insta activate burning meccanism because we on 89% negative roi. You must doing what you say or shut up.
IMG_20220314_133918

1 Like

Hi Ali,

As always your prompt response is appreciated.

However, further to your response we require better clarification on each of the points, perhaps if you could respond with a similar bulleted list (point by point) and for those bullet points you have currently no response, please say so and provide an ETA for getting one.

Please also clarify what you mean by “UK investors” is this the Crowdcube investors, users based in the UK or something else? I, for example, invested via Crowdcube but I am based in France and so is my Wirex account, does this mean investors like me don’t get the extension?

Is this subscription extension a pre-planned event or is it in response to our demands? Has it been previously communicated/discussed?

Clearly, it is important to be completely aware, events could quickly overtake us once the legal team is instructed, and at which time costs will start to be incurred which will generally be passed to the losing side should this matter reach court. Please ensure your own legal team are aware and prepared to receive correspondence on behalf of the group action.

And finally, all Wirex’s behind the scenes work regarding the Ukraine issue is undoubtedly very important! The welfare of all Wirex employees is far more important then any investors’ issues. However, as I have consistently previously insisted, perhaps more open communications of these issues would allow customers and investors alike to have better understanding of the matter. It takes a few minutes to write an email detailing the situation. Further to this point, I have noticed around 90% of the organisations I personally have dealings with have made a public statement on their stance/impact/plan regarding Ukraine - Wirex is in the 10% who have not (apart from the slightly hidden and obscure few paragraphs you have liked above). This only goes to further illustrate Wirex’s “finger OFF the pulse” issues.

I look forward to your responses as soon as reasonably possible, please.

Without prejudice.

Kind regards,

Seth

3 Likes

Give to investors premium pack of utility token in proportion of investement!

1 Like

Hi, I’m Mr Greguric Nicolas fromFrance, and 1st investor on crowcube.
I m see right now that wirex take me two time 9999wxt the march 12th at 10:30am an 11:00am.

Why ?

What is your problem Wirex ?

We can contact you by mail.

You not serious

1 month before you refund me 20€ …why ? No answer to my mail.

So, refund me 2 x 9999wxt that you take. Right niw

Mr Greguric Nicolas

Im in.
Look at this answer of CS. Poor

Pareil que toi de mon côté.

1 Like

Il aurait ete mieux de nous demander si nous souhaitions l abonnement premium plutot que de l imposer !
Et de plus, aucune explication sur le double prelevement…

Wirex n a aucun respect pour ses clients

Can you speak english please.

thank you

1 Like

Hi @Nik_Greg please send me a private message. Thank you

Why do only UK investors get a free year, I’m from the EU and just renewed mine with Wirex tokens? but why only UK investors?

3 Likes

All investors were given 12 months subscription as an investing incentive, however shortly after the subscription started UK accounts were effectively frozen, this was not the case for people outside of the UK so for the vast majority of that 12 month subscription UK investors weren’t able to utilise the subscription. Wirex have given 12 months subscription to UK investors because they didn’t get the 12 months everyone else got.

Put me down.
had two subscriptions taken without any notice or information opened a ticket asking why apperantly my question hadi been forwarded to the relevent team .
Sounds like a delay tactic

2 Likes