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Author Topic: IDAX is it SCAM?  (Read 438 times)
fratoshi
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December 05, 2019, 02:22:17 AM
 #21

No more news about this exchange?
all seems strange  Lips sealed
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sbogovac
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December 06, 2019, 10:23:04 AM
 #22

No more news about this exchange?
all seems strange  Lips sealed

Latest news doesn't look good...

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December 06, 2019, 10:57:32 AM
 #23

Allegations of Idax Scam have already been discussed https://bitcointalk.org/index.php?topic=5158867.0
be more careful when you want to trade, nowadays there are many scam exchanges.
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December 06, 2019, 04:09:31 PM
 #24

Idax was once red flagged during an IEO, that was conducted on the exchange, instead of giving the project team the fund raised they alleged no fund was raised, this would be later said to have been resolved by Xcrypt team and CryptomarketAd, but I observed that incident and stay off Idax. 

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December 06, 2019, 04:59:36 PM
 #25

Latest news doesn't look good...

That title...
Quote
China-based IDAX Crypto Exchange Vanishes with $20 Billion as Capital Strand Breaks

Really?
They would have to hold at least 3 million Bitcoins for that number, the author probably has mistaken million for billion.

On the other hand, while the offices are empty, wallets are empty, people are getting arrested, the bots are still faking the volume big time:
IDAX $770.551.761
One more roof, if we needed one more that is, that you shouldn't trust any damn number on coinmarktcap!

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December 09, 2019, 07:46:59 AM
 #26

Latest news doesn't look good...
That title...
Quote
China-based IDAX Crypto Exchange Vanishes with $20 Billion as Capital Strand Breaks
Really?
They would have to hold at least 3 million Bitcoins for that number, the author probably has mistaken million for billion.

On the other hand, while the offices are empty, wallets are empty, people are getting arrested, the bots are still faking the volume big time:
IDAX $770.551.761
One more roof, if we needed one more that is, that you shouldn't trust any damn number on coinmarktcap!

True, probably something got "lost in translation" (either Billion/Million or the currency USD/CNY/KRW) but the "essence" of the news stays the same: "doesn't look good"...

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fratoshi
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December 09, 2019, 09:25:14 AM
 #27

20 billion seems like alot of money, many will be looking for the CEO: FBI, Interpol, CIA, Europol, Chinese secret service, etc

I hope the mystery gets resolves soon
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December 10, 2019, 04:47:23 PM
 #28

Well, I have used IDAX before and thankfully I have no problem with it, they allow for quick withdrawals and deposits. Maybe this time they have a problem with the Chinese government, so they have to run away and take the cold wallets, hoping everything will not go too bad.

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December 11, 2019, 08:50:05 PM
 #29

And finally, they stopped...one bot!
The volume dropped from 700 million to 170 million in a matter of hours.



But, and now this is the funny part, the only one that dropped was the BTC USDT pair, the ETH/BTC is still as 80 million.

And, do you know how much the USDT market dropped?
Well, from 400 million at one time to ...1700$. Yes, less than two thousand $.

Nothing but fake fake fake numbers.




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December 12, 2019, 05:23:55 PM
 #30

the real exchange is idex.market idax is a scam clone.

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sbogovac
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December 13, 2019, 09:06:33 AM
 #31

the real exchange is idex.market idax is a scam clone.

As already said just a couple of posts before yours:

[...] 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)...

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Winstar78
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December 31, 2019, 01:12:32 PM
 #32

So after more than a month, they have closed telegram groups, that looks even more bad, any other news?
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December 31, 2019, 03:34:25 PM
 #33

So after more than a month, they have closed telegram groups, that looks even more bad, any other news?

Nothing and this shows just how much fake stuff was going there..
They were claiming 700 million in trade a day even with those problems, and yet there is little no one outrage in the biggest crypto blogs or on the groups or even here, a clear indicator that probably the real amount sitting there was in the thousands of dollars, not millions.
Imagine, the 10th largest exchange bites the dust and close to nobody gives a damn,

Checking around what is still trading there I run into yap stone
And if you look where this coin is trading, another clear indicator that idax was used only to pump op fake volume for shitcoins.

Winstar78
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August 12, 2020, 12:14:00 PM
 #34

the thing I cannot accept/believe is it seems no one is trying to investigate or prosecute the scamming ceo. This scam has been totally forgotten.
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August 12, 2020, 05:06:27 PM
 #35

the thing I cannot accept/believe is it seems no one is trying to investigate or prosecute the scamming ceo. This scam has been totally forgotten.

And if say that twice (in two topics) it makes even more unbelievable  Grin?

IDAX was faking the volume big time, their main target was people who could dump some altcoins that weren't tradeable anywhere else, not big whales in traditional pairs. And if they had a few important ones probably they told them to get their money out and say nothing and they fleeced the little users.

Let's say you get scammed by an exchange you have no real clue where it is located or what company is behind it, most likely situated on the other side of the world and you've lost 100-300 let's say even 1000$? Are you going to file a complaint? Probably not, and that's what thieves like this know and take advantage of it. There have been so many cases where exchanges have disappeared and only a few users actually complain to the police but if the authorities where the crime was committed or the criminal is from have no interest in dealing with it, nothing was solved, and the way things go in cases where action has been taken, like MtGox are even more discouraging.

Unfortunately, rather than not believing it start thinking of it as the new normal.



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