Bitaigen Research From the perspectives of the founding team, development history, user growth, and recent controversies, we objectively outline the true picture of the WBF exchange, helping readers assess the platform’s reliability. The following sections reveal key details and are worth a careful read. We combine publicly available data with industry feedback to comprehensively evaluate its technical security and compliance risks.
In the crypto space, the safety of trading platforms has always been a primary concern for investors. Recently, the WBF exchange (also known as Watt Exchange) has repeatedly appeared in headlines due to a series of disputes, the most talked‑about being an alleged “technical glitch” that enabled a “free‑riding” incident. Although the platform later issued a statement claiming that the system was operating normally, the episode has already caused many to question its dependability. Below we examine WBF exchange from multiple angles in a systematic manner, aiming to give everyone a more objective understanding.
Founder and Development Timeline
WBF was founded by Zhao Sheng, born in 1975, who launched the World Blockchain Forum in 2017.
- On September 14 2018, Zhao and his team hosted the “World Blockchain Conference · Jeju Technology Summit” on Jeju Island, inviting numerous industry leaders and unveiling the digital‑asset smart wallet Plus‑Token.
- On November 28 the same year, the Singapore‑registered WBF STO digital‑currency exchange officially opened. The inauguration ceremony featured not only the founding team but also representatives from the Monetary Authority of Singapore.
- On June 29 2019, Plus‑Token suffered a hacking attack, causing its servers to go offline. WBF subsequently clarified that it only held naming rights to the project, a clarification that further stoked market anxiety.
- Following that incident, operational control of the platform shifted to Bella Fang.
Rapid Growth of Registered Users
Since its incorporation on January 11 2019, WBF’s global user‑registration numbers have risen explosively. The figures below are taken from the platform’s publicly disclosed growth logs:
- March 2019: Registered users surpassed 300,000.
- October 2019: The user base crossed the 1 million mark for the first time.
- November 2019: Registrations climbed to 1.65 million.
- End of December 2019: Cumulative registrations reached 2.28 million.
- February 3 2020: The count of verified global users officially exceeded 3 million.
It took only ten months to go from zero to one million users, and another four months to reach three million—growth rates that stand out among peer platforms.
Accessibility of the Official Website
As of June 18 2023, I accessed the WBF official site (https://www.wbf.live/) using a standard internet connection, and the page fully loaded in roughly 30 seconds. Depending on regional network conditions, actual load times may vary slightly, but overall availability showed no obvious abnormalities.
Recent Controversy and Platform Response
At the end of 2022, a social‑media user alleged that WBF exchange had been “free‑riding” due to a technical malfunction. The claim quickly spread, prompting the exchange to issue an official announcement that the system had experienced no irregularities. While the veracity of the allegation remains to be fully verified, the incident positioned WBF among the first exchanges accused of “anti‑free‑riding” practices and sparked additional speculation about its risk‑management capabilities.
Overall Assessment
- Product Scope: WBF offers online trading of a wide range of financial derivatives, including forex, stocks, options, futures, and CFDs. Fiat deposits are typically processed in USD via SWIFT or SEPA channels, aligning with global market standards. U.S. residents normally access fiat on‑ramps through Binance.US rather than the global Binance platform.
- User Base: By early 2020, the platform had amassed over 3 million verified registrations, reflecting a steep growth curve.
- Technology & Security: The website functions normally, but the historical security incident linked to Plus‑Token highlights the need to monitor the exchange’s ongoing risk‑control measures.
- Reputation & Transparency: The swift issuance of statements during controversies demonstrates a certain level of crisis‑communication capability, yet the completeness of information disclosed still warrants further observation.
Please note that cryptocurrency gains may be taxable in your local jurisdiction, and you should consult a tax professional regarding any obligations.
If you are contemplating digital‑asset trading on WBF, a prudent approach involves fully reviewing its operational background, user scale, and past disputes, then aligning the findings with your personal risk tolerance. For deeper analyses of the WBF exchange, stay tuned to future reports from Bitaigen.
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