Telegram CEO Stored His Bitcoins on Hacked Wex Exchange
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Nov. 14, 2019

Telegram Founder and CEO Pavel Durov stored his bitcoins (EXANTE: Bitcoin) on the notorious cryptocurrency exchange WEX (formerly BTC-e).

Italy Arrests Former CEO of Wex Exchange

According to a Russian Telegram channel called Cello Case, Telegram founder had bought bitcoins at $750 apiece, spending $1.5 million at the end of 2013.

"After a short time, the rate fell to $229, Durov lost two-thirds of the investment. He returned the loss three years later, when the rate exceeded the purchase price," states the channel.

The Cello Case claims that according to the exchange's customer base, all that time Durov stored 2070 BTC on the exchange. Durov's main account on WEX was tied to his personal email, which is the same email that was used to register British Telegram legal entities.

Previously iHodl reported that Telegram sent a series of documents to a U.S. court asking it to dismiss the U.S. Securities and Exchange Commission's lawsuit against the issuance and distribution of its token.

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