WeExchange - Revision history

NotATether: Expand history: BitFunder link, SEC allegations, Nov 2013 shutdown

2026-09-22T13:40:37Z

Expand history: BitFunder link, SEC allegations, Nov 2013 shutdown

@@ Line 1: / Line 1: @@
+{{infobox company
+| name = WeExchange
-{{ambox
+| industry = [[Exchange|Bitcoin exchange]] / custody wallet (historical)
-| type  = warning
+| foundation = Limited operations before public launch 8 December 2012
-| text  = '''Warning: This exchange has discontinued its services.''' Any acquisition of the domain does not represent the original owners, nor does it reflect the accuracy of the information shared here.
+| location = Australia (WeExchange Australia Pty Ltd per SEC complaint); U.S. entity also described historically
 }}
-A bitcoin [[currency exchange]]/trading platform.
+== BitFunder ==
+An SEC complaint filed 21 February 2018 in the U.S. District Court for the Southern District of New York alleges that from December 2012 through November 2013 Montroll operated BitFunder as an unregistered online securities exchange and that users deposited bitcoins into a virtual currency wallet maintained by WeExchange (WeExchange Australia Pty Ltd), with user bitcoins commingled in that wallet under Montroll's control. The complaint alleges misappropriation from the WeExchange wallet and failure to disclose a cyberattack on BitFunder beginning 28 July 2013 through 27 August 2013 that resulted in the theft of more than 6,000 bitcoins (the complaint also cites approximately 6,062 BTC). The complaint states Montroll shut down BitFunder on 14 November 2013. Those theft figures, misappropriation claims, and related narrative are allegations in the complaint.<ref name="secpr">[https://www.sec.gov/newsroom/press-releases/2018-23 SEC press release 2018-23, 21 February 2018]</ref><ref name="complaint">[https://www.sec.gov/files/litigation/complaints/2018/comp-pr2018-23.pdf SEC complaint, ''SEC v. Montroll and BitFunder'', S.D.N.Y. (filed 21 February 2018)]</ref>
-* [[Buying bitcoins]]
+== Sentencing ==
-* [[Selling bitcoins]]
+CoinDesk reported on 12 July 2019 that Montroll was sentenced to 14 months in prison after a guilty plea to securities fraud and obstruction of justice, quoting U.S. Attorney Geoffrey S. Berman of the Southern District of New York. The report describes Montroll as operator of BitFunder and the WeExchange deposit service and notes related findings described by prosecutors; it does not supply a full restitution schedule for WeExchange balances suitable to invent here.<ref name="cd">[https://www.coindesk.com/markets/2019/07/12/ceo-of-bitfunder-exchange-gets-14-months-in-prison-for-fraud-obstruction CoinDesk, 12 July 2019: CEO of BitFunder Exchange Gets 14 Months in Prison for Fraud, Obstruction]</ref>
-==External Links==
+== See also ==
-* [https://www.WeExchange.co WeExchange.co] website
+== External links ==
-==References==
+== References ==
-<References />
+<references />
-[[Category:Exchanges]]
+[[Category:Defunct exchanges]]
-[[Category:EWallets]]
+[[Category:Defunct e-wallets]]

WikiR: Insert notice about discontinued exchange.

2025-12-04T17:41:31Z

Insert notice about discontinued exchange.

← Older revision		Revision as of 17:41, 4 December 2025
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			{{ambox
			\| type = warning
			\| text = '''Warning: This exchange has discontinued its services.''' Any acquisition of the domain does not represent the original owners, nor does it reflect the accuracy of the information shared here.
			}}


	A bitcoin [[currency exchange]]/trading platform.		A bitcoin [[currency exchange]]/trading platform.

Sgornick: /* BTC */ Correction for intra-wallet withdrawals.

2013-01-30T04:20:20Z

BTC: Correction for intra-wallet withdrawals.

← Older revision		Revision as of 04:20, 30 January 2013
Line 29:		Line 29:
	* There is no fee for BTC withdrawal.		* There is no fee for BTC withdrawal.

	~~All withdrawals~~ are sent through the Bitcoin network~~, regardless of whether or not~~ the Bitcoin address is the deposit address for another ~~BitMe~~ account.		Withdrawals are sent through the Bitcoin network unless the Bitcoin address is the deposit address for another WeExchange account and then it is handled internally with no transaction on the blockchain.

	===USD===		===USD===

Sgornick: /* USD */ Error correction.

2013-01-30T04:19:12Z

USD: Error correction.

← Older revision		Revision as of 04:19, 30 January 2013
Line 33:		Line 33:
	===USD===		===USD===

	* A MtGox [[redeemable code]] is the method for ~~depositing~~ USD funds.		* A MtGox [[redeemable code]] is the method for withdrawing USD funds.

	===CAD===		===CAD===

Sgornick: /* Trading */ Update - no fees.

2013-01-30T04:18:15Z

Trading: Update - no fees.

← Older revision		Revision as of 04:18, 30 January 2013
Line 46:		Line 46:
	==Trading==		==Trading==

	~~Trades~~ on the exchange ~~incur a commission (fee)~~.		For an introductory period of time there is no charge (no commission/fee) for trades on the currency exchange.

	==Security==		==Security==

Sgornick: Create article for WeExchange.co and add to Exchanges and EWallets categories.

2013-01-30T03:39:01Z

Create article for WeExchange.co and add to Exchanges and EWallets categories.

New page

A bitcoin [[currency exchange]]/trading platform.

==Adding Funds==

===USD===

* A MtGox [[redeemable code]] is the method for depositing USD funds.

===CAD===

* Interac E-Transfer

===AUD===

* Bank wire transfer (transfer must include reference message).

===BTC===

* Bitcoins funds can be deposited at no charge.

The BTC deposit address does not expire or change and later deposits to the same address can be made.

BTC funds deposited are available for trading after six confirmations.

==Withdrawing Funds==

===BTC===

* There is no fee for BTC withdrawal.

All withdrawals are sent through the Bitcoin network, regardless of whether or not the Bitcoin address is the deposit address for another BitMe account.

===USD===

* A MtGox [[redeemable code]] is the method for depositing USD funds.

===CAD===

* Interac E-Transfer

===AUD===

* Bank wire transfer

==Trading==

Trades on the exchange incur a commission (fee).

==Security==

Login and withdrawals can be protected with multi-factor authentication (also referred to as two-factor authentication or 2FA) using Google Authenticator.

==History==

The exchange emerged from its limited (invite-only) operations on December 8, 2012<ref>[http://bitcointalk.org/index.php?topic=85829.msg1385850#msg1385850 WeExchange]</ref>.

The exchange is operated in Australia by WeExchange Australia, Pty. Ltd and in the U.S. by WeExchange, Inc of Texas.

==See Also==

* [[Buying bitcoins]]
* [[Selling bitcoins]]

==External Links==

* [https://www.WeExchange.co WeExchange.co] website

==References==
<References />

[[Category:Exchanges]]
[[Category:EWallets]]