Radar / Crypto-asset service provider
WEEX
Crypto-asset service provider Offshore / not clearly stated (FinCEN MSB entry reportedly lists an address in A weex.com ↗
Reviewed 2026-10-21
Our verdict
High risk
We found serious problems with this provider.
- Two official actions are listed. (1) The Georgia Department of Banking and Finance issued a cease-and-desist order against WEEX International Exchange LTD d/b/a WEEX, …
- WEEX reports MSB registrations with FinCEN and FINTRAC and an SVG FSA registration; secondary reviewers describe these as AML registrations, not exchange or derivatives …
- The operating entity is named as WEEX International Exchange LTD, an offshore company with a low public profile, variously tied to Singapore, Dubai and a Colorado …
What should I do?
- Do not send money, card details or ID documents.
- If you already paid: contact your bank or card issuer at once and ask for a chargeback.
- Report the provider to your financial regulator or the police.
Based on public sources at the date of review. Not a finding that the company acted unlawfully; the company can respond below.
About
WEEX is a centralized crypto exchange launched in 2018 and operated by WEEX International Exchange LTD, focused on spot and derivatives trading with up to 400x leverage. It reports MSB registrations with FinCEN (US) and FINTRAC (Canada) plus an SVG FSA registration, which reviewers describe as AML registrations rather than full exchange licences. The Georgia (US) Department of Banking and Finance issued a final cease-and-desist order in March 2025 for unlicensed money transmission. On 15 September 2026 the AIFC Court (Kazakhstan) issued an injunction, on AFSA's claim, against the WEEX operator for unlicensed digital-asset services within the Astana International Financial Centre; AFSA announced it on 20 October 2026.
Read more
WEEX is a centralized crypto exchange launched in 2018 and operated by WEEX International Exchange LTD, focused on spot and derivatives trading with up to 400x leverage. It reports MSB registrations with FinCEN (US) and FINTRAC (Canada) plus an SVG FSA registration, which reviewers describe as AML registrations rather than full exchange licences. The Georgia (US) Department of Banking and Finance issued a final cease-and-desist order in March 2025 for unlicensed money transmission. On 15 September 2026 the AIFC Court (Kazakhstan) issued an injunction, on AFSA's claim, against the WEEX operator for unlicensed digital-asset services within the Astana International Financial Centre; AFSA announced it on 20 October 2026.
The full check
🪪LicenceLicensing & registrationCaution
WEEX reports MSB registrations with FinCEN and FINTRAC and an SVG FSA registration; secondary reviewers describe these as AML registrations, not exchange or derivatives licences. Reviewers report no FCA, MiCA, MAS or CFTC authorisation. Georgia's regulator found it operated without a money transmitter licence, and the AIFC Court (Kazakhstan) has enjoined it for lacking an AFSA licence. A secondary source says it was not on Taiwan's FSC AML registration list as of 29 Sep 2026. The FinCEN, FINTRAC and SVG registers were not opened directly, so the registrations remain unverified here.
- Reports FinCEN/FINTRAC MSB registration and El Salvador BSP; no FCA approval or other top-tier licences
- MSB registrations only (FINTRAC no. M21642476), not full exchange licences
- Lists FinCEN MSB, FINTRAC MSB and SVG FSA; no FCA, MAS, MiFID II or CFTC licence
- Georgia regulator: no valid licence or exemption 2025-03-27
- AFSA: WEEX operator barred from offering digital-asset services in AIFC without the appropriate licence 2026-10-20
👥Who owns itOwnership & controlCaution
The operating entity is named as WEEX International Exchange LTD, an offshore company with a low public profile, variously tied to Singapore, Dubai and a Colorado address. No public register listing its directors or beneficial owners was found. Aggregators list a Singapore company, WEEX INTERNATIONAL EXCHANGE PTE. LTD. (UEN 202138000W), with status struck off; it has a different legal form from the 'LTD' named in the FinCEN entry, and any link to the operator is unconfirmed, so no findings are attributed to it. Reviewers describe management as opaque, with the CEO known only by a first name.
🏦Where your money goesBanking & payment chainNot checked yet
Not yet assessed.
⚖️Regulator actionsRegulatory actionsProblem
Two official actions are listed. (1) The Georgia Department of Banking and Finance issued a cease-and-desist order against WEEX International Exchange LTD d/b/a WEEX, final on 27 March 2025, for money transmission without a valid licence or exemption. (2) On 15 September 2026 the AIFC Court granted AFSA's claims and prohibited the WEEX operator from providing, offering or advertising digital-asset services, or distributing apps for them, within the AIFC without a licence. AFSA announced this on 20 October 2026. The injunction applies only inside the AIFC, not across all of Kazakhstan, and also touches Google and Apple as app-store operators.
📰News & reputationAdverse media & OSINTCaution
WEEX reports a March 2025 ETH/USDT order-matching anomaly, after which it says affected users were compensated. Fox News reports that scammers use the WEEX name in text-message investment scams and describes WEEX itself as a legitimate platform. Reviewers report no major external hack. Wide trade-press coverage of the October 2026 Kazakhstan injunctions (alongside Coinbase, HTX and others) is new since the last check.
💬Customer experienceCustomer conductCaution
Trustpilot reviews and review sites report recurring complaints about account freezes, demands for extensive KYC to unfreeze, withheld funds, slow support and misleading promotions. Coin Bureau cites a Trustpilot score of 2.2/5 from about 450 reviews. These are user-submitted allegations and are unverified; some users report consistent operation. These complaint points were not re-verified in this check.
How we rate: methodology.
Similar providers
Licences & registrations
| Regulator / register | Type | Number | Status |
|---|---|---|---|
| FinCEN (US) | Money Services Business registration (AML registration, not a licence) | Active | |
| FINTRAC (Canada) | Money Services Business registration | M21642476 | Active |
| SVG Financial Services Authority | Registration claimed by WEEX/reviewers | Active | |
| Georgia Dept. of Banking and Finance (US) | Money transmitter licence | Claimed, not found in register | |
| AFSA / AIFC (Kazakhstan) | Digital asset licence | Claimed, not found in register |
People & network
People (public registers)
- Ethan Tong · Described as co-founder responsible for security architecture (secondary source only, not from a public register) · source
Version history
- 2026-10-21 Red signal Automated profile created from public sources
Are you WEEX?
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