Websea Crypto Exchange Faces Suspected Exit Scam, Withdrawal Channels Closed

Gate News message, April 27 — Crypto trading platform Websea has suspended withdrawals and closed its C2C (peer-to-peer) channels, with multiple users reporting the exchange appears to have conducted an exit scam. The platform initially restricted withdrawals before completely shutting down the C2C channel, causing panic selling of the platform’s native token to approximately 50% of its previous value.

Websea previously gained attention by hosting celebrity Rola (泷泽萝拉) as a speaker at the Hong Kong Web3 Conference. Users reported that the platform’s withdrawal restrictions escalated into a full closure of trading and withdrawal services.

As of now, Websea has not issued an official statement addressing the situation. The incident remains ongoing, with no clarity on whether the exchange intends to resume operations or provide customer support.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related Articles

When DeFi is too slow for young people and too risky for old money: are we all using Treasury bond interest to shoulder junk bond risk?

DeFi once attracted young people with five-figure APY rates, but it is now seen as overpriced and carrying too much risk. Over the past year, more than $1.62 billion has been stolen, and at one point Aave’s interest rate spiked to 12.4%. The fair yield is about 12.55%, with a retail entry threshold of 18%. Institutional players prefer “strategy-isolated vaults” to reduce tail risk. Conclusion: high leverage is no longer in; in the future, we’ll need higher-risk pricing and insurance tools to accommodate both young people and old money.

ChainNewsAbmedia2h ago

Robinhood Warns of Phishing Emails Sent to Some Customers

Gate News message, April 27 — Robinhood alerted users on social media that some customers received fraudulent emails last Sunday evening claiming to be from noreply@robinhood.com with the subject line "Your recent login to Robinhood." The phishing attempt stemmed from misuse of the account

GateNews2h ago

RAVE Token Surges 110x in Two Weeks, Then Crashes 98% Amid Market Manipulation Allegations

Gate News message, April 27 — RAVE, the native token of RaveDAO (a Web3-based cultural community project), skyrocketed 110x in two weeks before plummeting 98% over two days on April 19-20, prompting comparisons to the infamous 2007 Lubo stock manipulation scandal in South Korea. On April 18, RAVE r

GateNews6h ago

Research reveals: Polymarket players take home 30% of profits by winning 3% of the positions—more than 70% of players absorb all losses

A new study analyzes Polymarket’s trading records from 2023–2025 and shows that only 3.14% of experienced winners control more than 30% of the profits. Crowd participation alone is not enough to explain overall accuracy; at the same time, it tracks 1,950 highly suspicious insider trading accounts that, while not driving predictions, amplified price volatility. The case shows that large bets were placed and profits were made before the U.S. announced developments regarding Venezuela. The research questions “wisdom of crowds” and emphasizes the need for increasingly strict regulation.

ChainNewsAbmedia6h ago

France: More than 40 crypto investor kidnappings in 2026, involving leaked tax data

According to Market Forces Africa, reported on April 27, incidents of kidnapping and violent attacks targeting cryptocurrency investors in France have increased sharply. On the X platform, Telegram founder Pavel Durov said that since the beginning of 2026, he has recorded 41 cases of cryptocurrency investor kidnappings, averaging one incident every 2.5 days, and that they are linked to a leak of French tax records.

MarketWhisper7h ago

Hubei cybersecurity police received a Second Class Merit Award, solving the province’s first “hundred-million-yuan” virtual-coin theft case in 70 days

According to a report by Hubei Daily on April 27, Guo Tingyu, a police officer from the Cyber Security Brigade of the Qingshan Branch of the Wuhan Municipal Public Security Bureau, was recently awarded the Individual Second-Class Merit. Guo Tingyu graduated from Huazhong University of Science and Technology with a degree in computer science. In 2023, he passed the civil service exam to join the police force. In early 2024, he took charge of the first virtual currency theft case in all of Hubei Province. After nearly 70 days of investigation and case-solving, the amount of involved funds exceeded 100 million yuan, and all five suspects were fully dealt with in accordance with the law.

MarketWhisper7h ago
Comment
0/400
No comments