IDAX is it SCAM?

[dioanna]

The IDAX Exchange's CEO evacuated the company, took away the cold wallet and disappeared. No one can contact the boss even the employees of the company.
Sadly I have some APL left in there and still on pending withdrawal.

[1714871884]

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[1714871884]

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[fratoshi]

There are many rumors at the moment and no one knows really what is going on.

Rumor 1: CEO run away with the cold wallets
Rumor 2: CEO has been arrested by Chinese authorities.
Rumor 3: Exchange was closed by Chinese authorities and is now relocating overseas.

The big concern is that Idax has already been accused of scam other projects, so 

[stompix]

Let's see, 700 million$ a day trade volume exchange (which has numerous hiccups in the past) is not processing withdrawals so the next moment panic...

I'm not saying it's not an exit scam, a "hack" or anything else, but how the story is pictured in some media about the CEO firing employees, grabbing the cold storage keys on a stick and running an away seem a bit far fetched. It would also not match at all with the scenario of the police raiding their office either, this is China not Mexico, you don't disappear from the police there, they make you disappear!

Anyhow until now, we have rumors and a brief post from the exchange...

Dear IDAX users:

Recently, the demand for IDAX withdrawals has increased dramatically. The channel that causes the withdrawal of the mainstream currency is in a congested state. IDAX is reviewing the user's withdrawal requirements, please wait patiently.

Not a scam yet but also the last place I would want to have some funds sitting right now.

If anyone wants to read a good fantasy drama novel on this, here you go :
https://cryptobriefing.com/idax-exit-scam-users-face-withdrawal-difficulty/

[bassbity]

The IDAX Exchange's CEO evacuated the company, took away the cold wallet and disappeared. No one can contact the boss even the employees of the company.
Sadly I have some APL left in there and still on pending withdrawal.

IDAX exchange is not possible to scam it is just some of the problems that are being handled by this withdrawal I hope IDAX services fix this soon and users can withdraw their assets freely.

[ryzaadit]

IDAX exchange is not possible to scam it is just some of the problems that are being handled by this withdrawal I hope IDAX services fix this soon and users can withdraw their assets freely.

Sometimes you need to believe in the rumors, we are on cryptocurrency dude.

Did you forget about this? "Buy the rumor sell went news came outs"

IDAX already have negativity rumors and news about their service a few month ago, i decide to leaving indax at 5 months ago. Some of the problem at IDAX:
- Scamming an IEO/ICO Project with a fake result token sale.
And about this too :

Rumor 1: CEO run away with the cold wallets
Rumor 2: CEO has been arrested by Chinese authorities.
Rumor 3: Exchange was closed by Chinese authorities and is now relocating overseas.

Coinmarketcap also giving a warning for IDAX Exchange.

[cryptoaddictchie]

Rumors or not this kind of news is quite scary. Like last time I heard that there is a project called cryptomarketads that conducted their IEO then they mentioned that the funds collected on IDAX was sammed by the exchange indeed they post a long explanation regarding this. Now CEO left? Im starting to believe it could be true.

[patz22]

Have you checked their telegram chat? Admin is not responding and it is full of spammers now. Withdrawals pending for over a week or less. I personally have a pending withdrawal since the 22nd and no one is responding so no need for proofs this is the truth.

[stompix]

Well, it sounded like it was a scene from a movie but it ain't:

https://idax.zendesk.com/hc/en-us/articles/360037327571-Urgent-announcement-about-current-situation-of-IDAX-Global

Dear user,

Following the official announcement "Announcement of IDAX withdrawal channel congestion" on November 24, We announce Urgent notice about current situation of IDAX Global.

Since we have announced the announcement on November 24, IDAX Global CEO have gone missing with unknown cause and IDAX Global staffs were out of touch with IDAX Global CEO.

For this reason, access to Cold wallet which is stored almost all cryptocurrency balances on IDAX has been restricted so in effect, deposit/withdrawal service cannot be provided.

IDAX Global is doing its best to try to grasp variety of news and current situation exactly including rumor on internet community.

IDAX Global is drawing up an emergency plan about platform services including deposit/withdrawal service so it is recommended that you refrain from using our all platform services.

We are really sorry for this situation and for all damaged users who love IDAX.

Funny how they still have 700 million in trading there.

[smyslov]

The IDAX Exchange's CEO evacuated the company, took away the cold wallet and disappeared. No one can contact the boss even the employees of the company.
Sadly I have some APL left in there and still on pending withdrawal.

IDAX exchange is not possible to scam it is just some of the problems that are being handled by this withdrawal I hope IDAX services fix this soon and users can withdraw their assets freely.

Why are you using the word not possible, everything here  is unexpected and possible, and what's on IDAX that it will not scam people, there's a lot of speculation and accusations so we will wait for the final confirmation on what happen to IDAX, but right now the safest is to withdraw your money if it is possible but I think it's not possible anymore,or stop using IDAX, until everything is settled.

[fratoshi]

The IDAX Exchange's CEO evacuated the company, took away the cold wallet and disappeared. No one can contact the boss even the employees of the company.
Sadly I have some APL left in there and still on pending withdrawal.

IDAX exchange is not possible to scam it is just some of the problems that are being handled by this withdrawal I hope IDAX services fix this soon and users can withdraw their assets freely.

Why are you using the word not possible, everything here  is unexpected and possible, and what's on IDAX that it will not scam people, there's a lot of speculation and accusations so we will wait for the final confirmation on what happen to IDAX, but right now the safest is to withdraw your money if it is possible but I think it's not possible anymore,or stop using IDAX, until everything is settled.

CEO dissapeared with the private keys, so is possible that it was kidnapped, already the CEO of Exmo was kidnapped a couple of years ago so it can happen again.

[FIFA worldcup]

The IDAX Exchange's CEO evacuated the company, took away the cold wallet and disappeared. No one can contact the boss even the employees of the company.
Sadly I have some APL left in there and still on pending withdrawal.

I was just thinking that  IDAX was a decentralized exchange so how can they scam when everyone have control over their private key in decentralized exchange ? Is it so ?

[sbogovac]

[...] I was just thinking that  IDAX was a decentralized exchange so how can they scam when everyone have control over their private key in decentralized exchange ? Is it so ?

You're thinking of IDEX (with an E, not IDAX with an A)...

[FIFA worldcup]

[...] I was just thinking that  IDAX was a decentralized exchange so how can they scam when everyone have control over their private key in decentralized exchange ? Is it so ?

You're thinking of IDEX (with an E, not IDAX with an A)...

Oh so Idax and Idex are two different exchanges, I have the IDEX exchange in mind when i saw this post.  These two names are too much similar that anyone can get confused who did not know that IDAX exchange even exists.

[UmerIdrees]

The IDAX Exchange's CEO evacuated the company, took away the cold wallet and disappeared. No one can contact the boss even the employees of the company.
Sadly I have some APL left in there and still on pending withdrawal.

This has been warned many times before also that  Do NOT use IDAX echange !!!
If you did not follow the warning and still kept the balance in Idax exhange, then who is to blame ?

[Sterbens]

The IDAX Exchange's CEO evacuated the company, took away the cold wallet and disappeared. No one can contact the boss even the employees of the company.
Sadly I have some APL left in there and still on pending withdrawal.

This has been warned many times before also that  Do NOT use IDAX echange !!!
If you did not follow the warning and still kept the balance in Idax exhange, then who is to blame ?

Many ignored the first thread about the IDAX scam warning but now it is happening again and everyone blames IDAX,
I do not know whether this problem continues or just coincidence but what I know is that many IDAX exchanges are suspected by those who know better in my opinion.

[moynul2050]

IDAX exchange is not possible to scam it is just some of the problems that are being handled by this withdrawal I hope IDAX services fix this soon and users can withdraw their assets freely.

this does not seem to be a mild problem and can be solved as you imagine.
many things are too complicated to believe, starting with the CEO who lost with Cold Wallet and Hardwallet.
to the possibility that all staff have worked together to commit common crimes and fabricate the story that this is only the fault of a runaway CEO.

[AirdropNotifyer]

The IDAX Exchange's CEO evacuated the company, took away the cold wallet and disappeared. No one can contact the boss even the employees of the company.
Sadly I have some APL left in there and still on pending withdrawal.

they runaway ! Please be careful don't hold your assets at exchange wallets,
sometime they say we got hacked or simply run away,

[patz22]

they runaway ! Please be careful don't hold your assets at exchange wallets,
sometime they say we got hacked or simply run away,

Lesson learned for me, cause I was too confident about exchanges like IDAX that they will not run away since they already have a reputation but I guess it is really hard since you are not holding any private key on it! IDAX was really good I am using it for less than a year but now I am totally rekt.

[AirdropNotifyer]

they runaway ! Please be careful don't hold your assets at exchange wallets,
sometime they say we got hacked or simply run away,

Lesson learned for me, cause I was too confident about exchanges like IDAX that they will not run away since they already have a reputation but I guess it is really hard since you are not holding any private key on it! IDAX was really good I am using it for less than a year but now I am totally rekt.

in crypto i think we can't believe on anyone or anything, There are so many other exchanges,
Latoken and P2Pb2b these may be next one,
i personally believe,
because they listing every single tokens/coins on their exchange they don't care if the project is scam or not,

i recommend to everyone withdraw your assets after trade

[stompix]

So, it's been a week since they've frozen deposits and withdrawals
And yet, the volume is flat, 700+ million in trade a day.

Common, who are they even trying to fool with this?
I'm starting to doubt they had more than 1-2 million in real trade volume to begin with.

Also, the irony, they still have this on their main page:

Quick Withdrawal
Withdrawal only takes about 10 minutes, which makes trading is more easy for you. We also support large withdrawal within 24-hour