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bobelr (OP)
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November 29, 2019, 12:29:37 PM |
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Earlier this morning, I read from whatsapp group how IDAX CEO, has suddenly gone missing. If you doubt this, read full story on IDAX blog here http://idax.zendesk.com/hc/en-us/articles/360037327571-Urgent-announcement-about-current-situation-of-IDAX-Global As I speak, cold wallet in which all crypto assets of users, investors etc are kept in custody is inacessible. Perhaps, if anyone should have veto access to it, would be the CEO basically. Withdrawal is blocked and users are stranded. I also use IDAX but lucky was on my side two weeks ago when I pulled out my $200 worth of Ether to AtomicWallet. A friend said it is more like I'm a prophet. Hahaha, I am not one either but I was skeptical of being at the mercy of exchanges when I was Introduced to AtomicWallet. Immediately, I head for atomicwallet.io and downloaded on my PC. AtomicWallet is a non-custodian wallet where your private key remains with you giving you the full control you desire over your funds. I can't actually afford cold wallet so a decentralized wallet was the best option for me. Meanwhile I could have used 75% of the fund to get a cold wallet but for the flexibility in moving funds, and some cool features of atomic wallet not available on cold wallet. I'll start to use the latter when I need to store up to 100BTC for lengthy period  In my opinion, I think IDAX is attempting a scam exit. We all know how cunning they can be when they're ready to ooze off. Different strategies they use. And now, even if the CEO shows up, users will flee the exchange as they will lose confidence and trust for it. And that would be the beginning of the dead end of IDAX. So, I'll advise that you start using non-custodian waller. |
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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nxnqauff
Member
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Activity: 840
Merit: 17
PG-PAY Gold Backed Token
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November 29, 2019, 12:40:40 PM |
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I see this as a complete scam. Not even considered this as scam attempt. Horrible news this morning. Luckily I don't have my coins there in that exchange. In general, coins should not be kept in the exchanges.
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DaMut
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November 29, 2019, 12:56:59 PM |
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I also agree with you, a classic thing that we used to see back then when the exchange wanted to scam their costumers and close their service.
yesterday we heard about a hack on upbit and today we are hearing idax, is it a coincidence?
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angrybirdy
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November 29, 2019, 01:12:43 PM |
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I also agree with you, a classic thing that we used to see back then when the exchange wanted to scam their costumers and close their service.
yesterday we heard about a hack on upbit and today we are hearing idax, is it a coincidence?
It's a different matter I think. The previous issue in upbit is not the same and just a coincidence for me. Basically, the ceo of idax suddenly blocks the withdrawal and it shows clearly their intention to do something terrible towards their users. While in upbit, they release the issue of them being compromised. It's a different matter and should not be included. |
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dark08
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November 29, 2019, 01:24:07 PM |
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I also agree with you, a classic thing that we used to see back then when the exchange wanted to scam their costumers and close their service.
yesterday we heard about a hack on upbit and today we are hearing idax, is it a coincidence?
It's a different matter I think. The previous issue in upbit is not the same and just a coincidence for me. Basically, the ceo of idax suddenly blocks the withdrawal and it shows clearly their intention to do something terrible towards their users. While in upbit, they release the issue of them being compromised. It's a different matter and should not be included. I agree to you the incident that happen to upbit are bit different to this idax if you read the article you will noticed that this problem will appear as another scam attempt. I dont know but the scam/hacked in the market right now are too many in that case this will bring impact to bitcoin price. |
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tiang_tower
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November 29, 2019, 01:49:52 PM |
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I see this as a complete scam. Not even considered this as scam attempt. Horrible news this morning. Luckily I don't have my coins there in that exchange. In general, coins should not be kept in the exchanges.
True, idax exchange is very often considered to be deceptive, so many traders who do not like this idax exchange, but if there is news like this, it is very fix if they want to cheat many people in cryptocurrency. |
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biddicoin
Sr. Member
Offline
Activity: 1077
Merit: 250
CryptoTalk.Org - Get Paid for every Post!
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November 29, 2019, 02:12:30 PM |
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This incident is very dissapointing, which makes crypto looks bad in this world.
There are some rumors about the CEO;
1 run away
2 caught by china's government
3 strict china's regulation
4 the exchange lose
Those are may be a reason why CEO dissapears and make this news trending in cryptocurrency field
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crazy-pilot
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November 29, 2019, 02:44:28 PM |
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I just read a topic about stealing $50 million of Ethereum from the Upbit exchange. Now I read about it, what the hell is going on? I think this will be a big blow to the crypto market. What will happen next?
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drlukacs
Sr. Member
Offline
Activity: 854
Merit: 253
l0tt0.com
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November 29, 2019, 03:29:19 PM |
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Earlier this morning, I read from whatsapp group how IDAX CEO, has suddenly gone missing. If you doubt this, read full story on IDAX blog here http://idax.zendesk.com/hc/en-us/articles/360037327571-Urgent-announcement-about-current-situation-of-IDAX-Global As I speak, cold wallet in which all crypto assets of users, investors etc are kept in custody is inacessible. Perhaps, if anyone should have veto access to it, would be the CEO basically. I can't actually afford cold wallet so a decentralized wallet was the best option for me. Meanwhile I could have used 75% of the fund to get a cold wallet but for the flexibility in moving funds, and some cool features of atomic wallet not available on cold wallet. I'll start to use the latter when I need to store up to 100BTC for lengthy period In my opinion, I think IDAX is attempting a scam exit. We all know how cunning they can be when they're ready to ooze off. Different strategies they use. And now, even if the CEO shows up, users will flee the exchange as they will lose confidence and trust for it. And that would be the beginning of the dead end of IDAX. So, I'll advise that you start using non-custodian waller. Everyone has been encouraged to use cold wallets to store coins. This is one of the best ways we can keep the security of our assets in a market full of scams and hidden hackers. Besides, we should never deposit our money into such exchanges. IDAX has had many allegations of fraudulent IEO projects and before that it was impossible to withdraw, ... so the experience is that when you hear such news, you should never use it. It is very risky. |
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Lance203sin
Jr. Member
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Activity: 109
Merit: 1
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November 29, 2019, 03:42:49 PM |
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Another one problem with exchange in this year. More than 15 already?
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Doell
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November 29, 2019, 03:52:23 PM |
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the exchange industry has been hit once again it hurts to see news like this when the market is vulnerable my estimation will be the bad part when ether thrown away to usd later ,obviously scam by bringing in funds so large that other companies engaged in the erc industry too will also be devastated
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safari88
Legendary
Offline
Activity: 1960
Merit: 1026
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November 29, 2019, 03:53:59 PM |
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yesterday we heard about a hack on upbit and today we are hearing idax, is it a coincidence?
i think this case is different from the upbit because on upbit that exchange got hacked and they will replace the user funds with their funds, while on idax case is caused because of the CEO and their staff so it's totally different |
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bobelr (OP)
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November 29, 2019, 03:55:43 PM |
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I see this as a complete scam. Not even considered this as scam attempt. Horrible news this morning. Luckily I don't have my coins there in that exchange. In general, coins should not be kept in the exchanges.
Hehehe lucky you. Many of my friends were lucky too. |
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bobelr (OP)
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November 29, 2019, 03:57:27 PM |
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I also agree with you, a classic thing that we used to see back then when the exchange wanted to scam their costumers and close their service.
yesterday we heard about a hack on upbit and today we are hearing idax, is it a coincidence?
Time to move your funds from exchanges. For Binance to get hacked, I will never trust exchanges with my token again. |
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bobelr (OP)
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November 29, 2019, 03:58:46 PM |
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Another one problem with exchange in this year. More than 15 already?
I guess that is a new way of making it big in crypto. Exchanges now cook up scam soups making people drink conveniently. |
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bobelr (OP)
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November 29, 2019, 04:00:41 PM |
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the exchange industry has been hit once again it hurts to see news like this when the market is vulnerable my estimation will be the bad part when ether thrown away to usd later ,obviously scam by bringing in funds so large that other companies engaged in the erc industry too will also be devastated
But I can't comprehend why we still fall for exchanges. |
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bobelr (OP)
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November 29, 2019, 04:02:40 PM |
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yesterday we heard about a hack on upbit and today we are hearing idax, is it a coincidence?
Do I guess there is no saving grace if it turns out to be what was displayed to the public by the IDax blog. Who should we then hold responsible? I am worried for those with huge funds in there. i think this case is different from the upbit because on upbit that exchange got hacked and they will replace the user funds with their funds, while on idax case is caused because of the CEO and their staff so it's totally different |
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Genemind
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November 29, 2019, 04:03:14 PM |
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If you are doubting about this thing then it's better to move your funds to a better exchange or in a secured wallet as early a possible. This occurrence on such exchange is really suspicious so we have to do something before it's too late. I have tried using Idax before and there were really lots of lapses. There are still lots of exchanges that you can trust despite all the issues that exchanges are now facing.
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bobelr (OP)
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November 29, 2019, 04:06:28 PM |
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I just read a topic about stealing $50 million of Ethereum from the Upbit exchange. Now I read about it, what the hell is going on? I think this will be a big blow to the crypto market. What will happen next?
It's so disappointing and disheartening to see things like this recurring in crypto space. Maybe bittrex, kucoin, gopax or which, will be the next. I encourage everyone to revert to using non-custodian wallet. Let's not be a victim anymore. More reason we crave for Decentralization. |
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Rodeo02
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November 29, 2019, 04:09:18 PM |
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I also agree with you, a classic thing that we used to see back then when the exchange wanted to scam their costumers and close their service.
yesterday we heard about a hack on upbit and today we are hearing idax, is it a coincidence?
i don't think it's just a coincidense they make at as a plan since the start of that exchange . And because of continue bear market and they dont earn profit in that exchange so they decided to run users money. The upbit hacking that was unexpected but the idax i think they do it for money. |
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