The WEXO Team already warned the public last month about the activities of the LWEX platform
WEXO10-Feb-2025
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The need for caution when choosing a cryptocurrency platform is again highlighted by the warning of the National Bank of Slovakia. Today, the bank is warning the public about the activities of a platform called LWEX Exchange, which offers the opportunity to invest in crypto assets.
"Our platform has registered a number of transactions where users have purchased cryptocurrencies through Wexo, in particular USDT, and then sent them directly to LWEX. These activities lead us to be concerned that people are unknowingly supporting a scheme that can lead to losses of their funds," said Wexo Chief Product Officer Martin Kuchar.
WEXO had already warned about the platform's activities last month and strongly objected to any cooperation with this entity.
"Following several client alerts regarding questions about the relationship between Wexo and the LWEX platform, as well as the GS_Success_SK business groups, we alerted our users and the public in mid-January 2025 and distanced ourselves from the LWEX platform," added Martin Kuchár.
In a blog post on wexopay.com, the WEXO development team states the following:
• Wexo has no property or personal connection with the LWEX platform or the GS_Success_SK business groups.
• Wexo categorically excludes any business cooperation with these entities.
• Wexo advises that it is not in any way associated with the activities or operations of the LWEX platform or the GS_Success_SK groups.
Wexo has no technical or legal ability to restrict the transfer of cryptocurrency funds to any other platform. The Wexo application has been designed to allow users to purchase cryptocurrencies and then freely move them to any other platforms or exchanges at their discretion.
Wexo is fully committed to promoting the secure adoption of cryptocurrencies. Our priority goal remains to provide transparent, reliable and secure services to all our clients.
The topic of LWEX is also covered in detail by the YouTube channel FURT NIEČO S PENIAZMI in the video Is the LWEX platform a pyramid scheme?