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Exchanges / Wider check / Websea
WIDER CHECK · NO SCORE · 9 OCT 2026

Websea: what the sources say

No MiCA authorization found Limited search: no Rigor score

Key facts

Regulation, reserves, fees

MiCANot foundNone found in the ESMA interim register
Italian residentsNot verifiedRegistry check pending
Proof of reservesNot verifieddetails not verified
Spot fees (base tier)Not verifiedmaker / taker

Reserves note: CoinMarketCap shows ~$15.43M exchange-reported wallet assets (unverified by CMC). Official PoR not read.

Track record

Incidents and regulator actions found

Security incidents

  • 2026-04-27 Phemex News reported Websea restricted withdrawals and closed its C2C channels; users raised rug-pull suspicion. Article states these were allegations/suspicion; no official statement at publication; no loss figures. Outcome: Traders Union (2026-07-18) reports Websea announced a third withdrawal round with rules same as the previous round; details of amounts returned not stated. source

Regulator and court actions

  • 2025-11-07 New Zealand FMA (republished by IOSCO I-SCAN 2025-11-14): Listed as 'Websea (Imposter)' under registered/licensed entity impersonators, linked to hzwebsea.co. Unclear whether the warning concerns the real Websea or a clone. Outcome: Warning only; no fine or court action found. Official or regulator database source
Limits

What we could not verify

Searched incidents/legal (3 searches). Incident details come from news aggregators; no official Websea statement read. Customer outcome and amounts unverified. Entity, Italy/OAM, official fees, PoR left null/unclear; claimed licences not checked against registers.

Facts are as of 9 Oct 2026. We ran a limited number of searches per exchange, so an empty list is not proof that nothing happened. We did not check the Italian OAM register. Items from press or third parties are reports, not findings by an authority. If something here is wrong or out of date, send a correction with a source: corrections policy. Education only, not investment advice.

Sources

  1. [1] ESMA interim MiCA CASP register (CSV) accessed 2026-10-09
  2. [2] Phemex News - Websea rug pull allegations amid withdrawal freeze (2026-04-27) accessed 2026-10-09
  3. [3] Traders Union - Websea third withdrawal round (2026-07-18) accessed 2026-10-09
  4. [4] IOSCO I-SCAN - Websea (Imposter), warning 45836 accessed 2026-10-09
  5. [5] CoinMarketCap - Websea profile (third-party) accessed 2026-10-09