Updated Rules checked 2026-10-22
Whether WEEX is safe comes down to what the public record shows. Under this site’s sourcing standard, as of 2026-10-22 there is no public report of a WEEX platform wallet hack, an extended withdrawal suspension or a major regulatory penalty. WEEX itself says it has run “8 years with zero incidents”, and the 1,000 BTC protection fund address it publishes held about 1,001 BTC on-chain that day. When the proof of reserves (PoR) page was checked on 2026-10-22, it showed no reserve ratio and no snapshot date, so there is currently no PoR figure you can verify.
On licensing, an official WEEX article says the company holds MSB registrations with FinCEN in the United States and FINTRAC in Canada, plus a Bitcoin service provider registration in El Salvador, without giving any registration numbers. The same article states that an MSB is an anti-money-laundering registration, not a full operating license. The United States and Canada are both on the list of excluded jurisdictions in WEEX’s Terms of Use.
No exchange is risk-free. Below, the facts you can check yourself are split into six parts: hacks and crisis history, how to read the PoR, registrations, how to recognize the real website and app, account security settings, and where WEEX cannot be used. Each one links to an official WEEX source, and the judgment is yours.
Key points: under this site’s sourcing standard, as of 2026-10-22 there is no public report of a WEEX platform wallet hack, an extended withdrawal suspension or a major regulatory penalty; “8 years with zero incidents” is WEEX’s own claim. On 2026-10-22 the WEEX PoR page showed no reserve ratio or snapshot date. WEEX’s official GitHub has a Merkle tree verification tool, but the page does not name an auditor or say how often it is updated. The 1,000 BTC protection fund address published in the WEEX Trust Center held 1,001.00043827 BTC on-chain on 2026-10-22; the main deposit arrived on 2025-01-24, with no outflows since. An official WEEX article says it holds a US FinCEN MSB registration, a Canadian FINTRAC MSB registration and a Bitcoin service provider registration in El Salvador, without registration numbers. The developer of the WEEX iOS app is Weex Virtual Currency Exchange LLC, the Google Play developer is WEEX PRO, and the package ID is com.wake.weexprd.
The information below was checked against official pages on 2026-10-22 (the fact-check date) and is provided for reference.
Has WEEX been hacked? How has it handled past crises?
I rechecked WEEX with the same sourcing standard used for exchange safety records: official exchange announcements first, then The Block, CoinDesk, Bloomberg, the US Department of Justice and national regulators’ notices. As of 2026-10-22, WEEX has no major public incident in any of the three categories:
- Platform wallet theft: none found. Searching the WEEX help center for “hack” also returns no security incident announcement.
- Extended withdrawal suspension: none found. What the help center does show are deposit and withdrawal maintenance notices, such as the full maintenance on 2026-01-19, when deposits and withdrawals for some coins were briefly closed or credited late (WEEX deposit and withdrawal maintenance notice).
- Major regulatory penalty: none found.
“None found” means nothing turned up under the standard above; it does not prove nothing ever happened. The WEEX homepage (Traditional Chinese version) says it “set up a 1,000 BTC protection fund and has operated for 8 years with zero incidents”, which is WEEX’s own claim. Apart from hacks, WEEX announcements also record several responses to market panic or concerns about its funds:
| Date | Event | What WEEX said | Source |
|---|---|---|---|
| 2022-11 | FTX collapse | Said it had never invested in FTT or the related ecosystem and users were not affected at all; also wrote that it “will later publish the platform’s proof of reserves (PoR)” | WEEX statement on no FTX exposure |
| 2023-07 | Online rumors that WEEX had “run off” with funds | Issued a statement calling the rumors groundless, said deposits and withdrawals were working normally, and published the protection fund wallet address | WEEX statement on compliance and security |
| 2025-01-24 | Protection fund moved to a new wallet | 1,000.99993565 BTC moved from the old address to a new one; the help center article “Where is the protection fund?” says “a new wallet has been added to the protection fund” (updated 2025-03-27) | Where is the protection fund? |
| Ongoing | Fake articles claiming a “shutdown and liquidation” | WEEX states that doctored articles titled “Countdown: WEEX?” that claim a shutdown or problems with funds are false rumors meant to lure people to phishing sites | WEEX anti-fake clarification notice |
Sources: WEEX help center announcements in the table, checked 2026-10-22; protection fund transfer date from on-chain records. For comparison, 7 of the 13 exchanges this site covers have had platform wallets hacked, 8 incidents in total, the most recent being Bitget on 2026-09-24 (compiled 2026-10-12; see exchange safety records).
How do you read WEEX’s proof of reserves (PoR)?
WEEX has a proof of reserves page that explains the formula: reserve ratio = platform reserves ÷ user assets, and 100% or more means the platform’s assets are enough to cover user assets. The WEEX Trust Center says the page shows reserve data for supported assets, user assets, platform net assets and verification details.
The problem is that the numbers do not load. When I checked on 2026-10-22, the snapshot field only showed “–/–/—-,–:–:– | BTC Block Height: ——“, and when I requested the data from the WEEX data API the page uses, the server returned an error (HTTP 521). It was the same when this site compiled its exchange proof of reserves comparison on 2026-10-12.
| Item | What WEEX officially states (2026-10-22) |
|---|---|
| Latest snapshot date | Does not load on the page |
| BTC / ETH / USDT reserve ratios | Do not load on the page |
| Assets covered | The page description mentions 1:1 asset backing for USDT, USDC, BTC and ETH |
| Verification method | Official GitHub tool that verifies against the Merkle tree root |
| Third party | The page shows an “Audited” label and a CoinMarketCap verification link, but does not name an auditor |
| Update frequency | Not officially stated |
| Protection fund | 1,000 BTC; the address is public and can be looked up on-chain |
Sources: WEEX PoR page, WEEX Trust Center, WEEX PoR verification tool (GitHub), checked 2026-10-22. In the same comparison, 7 of the 13 exchanges had readable reserve ratios dated September 2026 or later on 2026-10-12; WEEX was not one of them.
How can you check that your own assets are included?
WEEX’s official GitHub project (weexpublic/weex-proof-of-reserves-verify, code uploaded 2025-10-20) lists these steps:
- Install Java 11 or later on your computer; you need at least 4G of memory.
- Log in to WEEX and download the “user balance data” and “platform balance data” from the PoR page.
- Download the verification tool from GitHub and, inside the resources folder, create a folder named after the coin (for example “BTC”).
- Create a file named metadata, paste in the metadata shown on the page, and put the downloaded data in the same folder.
- Compile and run it. The tool recalculates the Merkle root from your data and compares it with the result the platform published.
This only works if you can download the data in the first place; when the page shows no snapshot, you cannot complete these steps. Proof of reserves only shows assets and liabilities at one point in time; it cannot show how the platform moves funds after the snapshot.
Can you verify the 1,000 BTC protection fund?
Yes. The protection fund address linked from the WEEX Trust Center and PoR page is bc1qeg5xn5plttr7w045apm92yx08c2swc6yw2vtj7 (the blockchair address page WEEX links to). When I looked it up on mempool.space on 2026-10-22, the balance was 1,001.00043827 BTC across 5 transactions. The main one, about 1,000.9 BTC, came in from the old address on 2025-01-24, and nothing has been sent out since.
Two things to note. First, WEEX’s anti-fake clarification notice, updated 2025-07-23, still lists the old address bc1qufzpe776gv25v3ejv0a8vk07vhqpelql9jl0cv, which was emptied on 2025-01-24; use the address in the Trust Center when you check. Second, the protection fund is WEEX’s own money, not insurance. The Trust Center says “the specific scope of protection is subject to the applicable terms, eligibility requirements and exclusions”, but WEEX does not officially say where those terms are published. The protection fund is also no substitute for PoR: it cannot prove that user assets are fully backed.
Where is WEEX registered or licensed?
WEEX has no license page that lists registration numbers. The table below includes only what WEEX’s own official pages say:
| Region | WEEX’s official wording | Type | Registration number | Source |
|---|---|---|---|---|
| United States | Holds a FinCEN MSB registration | MSB (money services business) registration | Not officially stated | WEEX Learn article (updated 2026-08-26) |
| Canada | Holds a FINTRAC MSB registration | MSB registration | Not officially stated | Same as above |
| El Salvador | Bitcoin service provider registration | Bitcoin service provider | Not officially stated | Same as above |
| Saint Vincent and the Grenadines | The Terms of Use are governed by local law; disputes go to arbitration in Kingstown under ICC rules | Governing law of the terms, not a license | — | WEEX Terms of Use (2026-07-07) |
Sources: official WEEX pages in the table, checked 2026-10-22. Rules differ by country; local regulators’ notices take precedence.
Other official pages are vaguer. The help center article “The Advantage of WEEX” (updated 2025-06-12) says “Currently holds financial licenses in the NA and Canada”, and the Traditional Chinese homepage says it “holds authoritative financial licenses in multiple countries”; neither names a regulator or gives a number. The “WEEX licensing and compliance” page linked from the anti-fake notice could no longer be found on 2026-10-22 (the help center returns Not found).
The WEEX article cited in the table is itself cautious. It says a FinCEN or FINTRAC MSB registration is an anti-money-laundering registration, not a full operating license, and does not mean prudential supervision or deposit protection. Its author states that these registrations could not be checked in real time when the article was written, so they are treated only as company claims, and readers are advised to search each regulator’s register by company name. One more point: the United States and Canada are both on WEEX’s list of excluded jurisdictions in its Terms of Use. Being registered in a country and whether that country’s residents can use the platform are two different things.
How do you confirm the WEEX website and app are real?
In its anti-phishing reminder (2025-05-21), WEEX advises always going through the official website https://www.weex.com and the official download page to access the site and download the app. Some older announcements still list other navigation URLs. If you see a domain you do not recognize, check it first with the official verification channel (Contact Verifier), which can verify websites, email addresses, phone numbers, Telegram IDs and social media accounts.
| Item | Official details | Source |
|---|---|---|
| Official domain | www.weex.com | WEEX anti-phishing reminder |
| App Store | Developer Weex Virtual Currency Exchange LLC, App ID 1609350789, updated to version 4.5.46 on 2026-10-16 | App Store listing |
| Google Play | Developer WEEX PRO, package ID com.wake.weexprd, 1M+ downloads, contact email on the weexglobal.com domain | Google Play listing |
| Other installation options | The download page also offers an Android APK, TestFlight, AltStore PAL and a HarmonyOS version; download the APK only from this page | WEEX download page |
| Customer support contact | Official support never phones users; live chat support is the only tool used to contact users | WEEX impersonation scam warning |
Sources: links in the table, checked 2026-10-22. Searching “weex” in the App Store also brings up apps from other developers with similar names, such as the browser tool “Weex – Web Browser & File Manager”. The same developer also has a market-tracking app, “WEEX Bubbles”, which cannot be used for trading. Check the developer name before you download.
There is one small catch with Contact Verifier. According to WEEX’s own article (tested 2026-08-03), the verifier matches exact strings: for a website you must enter www.weex.com, and entering only weex.com or adding https:// returns no match; social media accounts must use the @handle format. If you get no result, try a different format first, and only treat the channel as unofficial once it still cannot be found.
Fake URLs exposed in WEEX announcements include exweex.com and app.weexusdt.xyz (WEEX anti-fake clarification notice), and the WEEX Blog keeps an ongoing list of fake and scam websites. A WEEX security alert states that official staff never ask for verification codes or fund passwords, “will never charge users any additional fees or deposits in any form”, and do not contact users from personal email addresses or private social media accounts. Treat anyone who asks you to pay before you can withdraw as a scammer. Common tactics are covered in types of crypto exchange scams and fake exchange withdrawal scams.
Which security settings should you turn on for a WEEX account?
WEEX’s account security guide (updated 2026-08-26) lists four things. Combined with the help center rules, they are:
- Two-factor authentication (2FA): WEEX offers SMS and Google Authenticator. It recommends Google Authenticator and keeping the backup key safe. On the website, go through the profile icon at the top right to “Account Security”; in the app, go through the menu icon at the top left to “Security Center” (How to reset Google Authenticator).
- Anti-phishing code: once you turn it on in your account settings, every genuine email from WEEX includes the code you set. An email without it was not sent by WEEX.
- Withdrawal whitelist (Address Management): once enabled, you can only withdraw to pre-approved addresses, and every new address has to be confirmed by email, so the linked email account also needs a strong password and 2FA.
- Passkey: I found nothing about it in the WEEX help center or security guide; WEEX does not officially state whether it is supported.
After you change your password, switch login devices, or withdraw from different devices within 24 hours, WEEX suspends withdrawals for 24 hours if the system detects an abnormal login record, and they resume automatically when the time is up (Why can’t I deposit or withdraw?, updated 2025-11-28). Resetting Google Authenticator requires completing KYC first, and the review takes one business day after you submit; for 24 hours after you request a change to a security item, you cannot withdraw. If you want to switch to a new wallet address and make a large withdrawal at the same time, WEEX requires you to contact live chat support first to confirm your identity (withdrawal fund safety notice).
Security settings across exchanges are compared in exchange account security settings, and WEEX’s withdrawal steps and what to do when a withdrawal gets stuck are in how to deposit and withdraw on WEEX. Assets left on an exchange are held in the exchange’s custody. If you plan to hold for the long term, you can consider moving them to your own wallet; see how to choose a crypto wallet.
Where can’t you use WEEX?
The “Excluded Jurisdictions” in section 1.1(d)(ii) of the WEEX Terms of Use (updated 2026-07-07) are: Canada, South Korea, the United States (including its territories), mainland China, Hong Kong, Singapore, the United Arab Emirates, North Korea, Cuba, Iran, Sudan, Belarus, Russia and the Russian-controlled regions of Ukraine, Somalia, Myanmar and Venezuela. Residents of these places cannot open an account or use WEEX’s services, and neither can individuals or entities on the US OFAC, EU or UN sanctions lists.
The terms require users to notify WEEX immediately if they become residents of a restricted jurisdiction, and the list may be extended at any time. The help center also has a 2025-06-02 version of the Terms of Use with a different list (no South Korea, Belarus or Russia, but Syria added); go by the 2026-07-07 version on weex.com. A comparison of 13 exchanges across 16 regions is in exchange restricted countries.
FAQ
Is it safe to keep money on WEEX?
No exchange can guarantee your assets are safe; all you can do is look at records that can be verified. Under this site’s sourcing standard, as of 2026-10-22 there is no public report of WEEX being hacked, suspending withdrawals for an extended period or receiving a major regulatory penalty, and the 1,000 BTC protection fund address can be found on-chain. But the PoR page shows no reserve ratio, so there is currently no figure to check whether user assets are fully backed.
Could WEEX collapse?
Nobody can predict whether an exchange will collapse, and public data cannot answer that question. What you can check: the protection fund address held 1,001.00043827 BTC on 2026-10-22, but that is WEEX’s own money and WEEX does not officially state what it covers; the PoR shows no figures. The Terms of Use state that disputes are governed by the law of Saint Vincent and the Grenadines and arbitrated under ICC rules.
Has WEEX ever been hacked?
Under this site’s sourcing standard, as of 2026-10-22 there is no public report of a WEEX platform wallet being hacked. The WEEX website says it “has operated for 8 years with zero incidents”, which is WEEX’s own claim, and “none found” does not prove nothing ever happened. Hack records for 13 exchanges are in exchange safety records.
Does WEEX have a license?
An official WEEX article says it holds a US FinCEN MSB registration, a Canadian FINTRAC MSB registration and a Bitcoin service provider registration in El Salvador, but gives no registration numbers. The same article states that an MSB is an anti-money-laundering registration, not a full operating license, and the United States and Canada are both on WEEX’s list of excluded jurisdictions. Rules differ by country; local regulators’ notices take precedence.
How do you check that a WEEX app you downloaded is real?
Check the developer name: Weex Virtual Currency Exchange LLC on the App Store and WEEX PRO on Google Play, with the package ID com.wake.weexprd. Download the Android APK only from the official download page on www.weex.com, and never use installation files or links that someone else sends you.
What should you do if a WEEX withdrawal is stuck?
First check whether a security mechanism kicked in: after you change your password, switch devices or change a security item, WEEX suspends withdrawals for 24 hours, and they resume automatically when the time is up. For a large withdrawal to a new address, contact live chat support first to confirm your identity. Anyone who claims they can “speed up withdrawals” and asks you to pay a fee or deposit first is a scammer. For how to deal with account restrictions, see what to do if your exchange account is frozen.
Is WEEX’s 1,000 BTC protection fund real?
The address is real and the money is there: the address published in the WEEX Trust Center, bc1qeg5xn5plttr7w045apm92yx08c2swc6yw2vtj7, held 1,001.00043827 BTC on-chain on 2026-10-22, with nothing sent out since the deposit on 2025-01-24. However, the protection fund is not insurance. Its scope “is subject to the applicable terms, eligibility requirements and exclusions”, and WEEX does not officially say where those terms are published.
WEEX’s fees, rebates, products and overall details are in the WEEX review. If you have not opened an account yet, see WEEX referral code for how to sign up and the WEEX KYC guide for the identity verification steps. Hacks, withdrawal suspensions and regulatory records for 13 exchanges are compiled in exchange safety records, and each exchange’s PoR figures are in exchange proof of reserves compared.