Is this a scam attempt? Or Nothing to panic?

[reallester]

This is so saddening because a lot of people really have funds there in. A friend has over 400$ on the exchange. What is the possible way out of this? None one knows which exchange is the next to exit scam. One just needs to be careful of these exchanges.

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[huu78]

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

You are right, crypto is seen more and more days will be worse, not far away with the investment of existing investment everywhere and more who do not believe them about crypto. The new person does not know about it and will be increasingly difficult. We can't say it should be good at looking for a good project but if in reality, new players are struggling very little to believe about Crypto itself. Very in the show not if it will often happen in the future. Who else will continue to create the project in the future? Hopefully, there will be a solution to the problem of scammers that often arise.

[tenakha]

read full story on IDAX blog here http://idax.zendesk.com/hc/en-us/articles/360037327571-Urgent-announcement-about-current-situation-of-IDAX-Global

I do not want to give any idea until the situation is clear, because there were also problems with idax recently, but it was solved. At that time everyone started to declare that idax was scam, but at the end they were ashamed.

Therefore, we all suggest that you should not keep money in the exchange. No matter how much these events happen, there are still those who lost their money.

[cytpoway121]

The situation is simple
The idax ceo has disappeared and the keys to the cold storage disappears too

Unless the ceo status is confirmed as not exit scam; there’s a lot of panic for coin hodlers

[Hypnosis00]

This is a horrible action that Chinese exchanges never meant good to look by in terms of crypto adoption. As I already read this https://bitcoinist.com/idax-exchange-whats-really-happening-to-withdrawals/
 there is something we end up to a conclusion that this certain exchange is just a scam and can't be trusted anymore. We can't hear a response from CEO which means that he is guilty of this.

[Baofeng]

I wonder if we're going to see the CEO ended up dead in India. Sounds familiar?

Remember QuadrigaCX? - https://beincrypto.com/quadrigacx-saga-human-tragedy-or-yet-another-exit-scam/

As this point since he has the control of the keys then I would assume that he exited scam already. And being the CEO at least you just don't go disappear in the thin air right? What would be the logical reason to just go vanished with the control of the funds?

[JeffBrad12]

This is so saddening because a lot of people really have funds there in. A friend has over 400$ on the exchange. What is the possible way out of this? None one knows which exchange is the next to exit scam. One just needs to be careful of these exchanges.

Always get away from an exchange that looks fishy just like this so called IDAX. I just can't understand people how they always approach these kind of exchange after so many cases of exit scam in the past. if it is because that exchange is the only one that provide market for your coin that makes sense but otherwise using such exchange to deal some matter that can be dealth through a more reliable exchange that are on top 5 is just simply not understandable.

[Aabcde]

I really do not believe in IDAX from the first they appeared. I use IDAX only to dump coins or tokens that I get from airdrop or bounty. The rest I have never deposited funds there. With the presence of news like this, I am fully convinced that it is an exit scam.
Every year there must be news like this, whether the CEO runs away, the exchange is hacked, or whatever the reason. If this happens continuously, crypto images in the eyes of the world will get worse.

[fuer44]

is the wallet still frozen and cannot be accessed until now? if so, it must be an asset theft. but if it's finally accessible, it's under development. then is there any prior notification before the freeze occurs? this is unfortunate.

[ajiz138]

This incident was already designed by them. If the IDAX CEO suddenly disappears and closes his services, of course he really intends to take the assets owned by members who make deposits to IDAX, this must be thoroughly investigated.

Upbit also experienced the same possibility, but the difference is Upbit hacked by hackers and took 324k ETH, but the upbit will replace it completely. Is this a classic drama that is revived to make the market worse?

[Amel]

This incident was already designed by them. If the IDAX CEO suddenly disappears and closes his services, of course he really intends to take the assets owned by members who make deposits to IDAX, this must be thoroughly investigated.

If they come to make an announcement like that it is true that the CEO of Idax ran away. And I agree, for this case it is better to conduct an investigation now than it would be difficult to investigate if left too long. Maybe Idax's CEO has been discouraged by the current situation, especially the exchange is losing competitiveness, so he chose to run away and take user money.

[celot]

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.

Maybe IDAX exchange look become scam exchange market and have to worried fro every one keep save their assets on IDAX exchange market, I think when holding coin for long term keep choose best and good reputation market and for saving altcoin or bitcoin balance.

[dragon695]

This is really a pity. IDAX has been warned for a long time about their withdraw and dep service, but many people still trust it and depict lots of coins there. I know someone who lost 52 bitcoins and 34 ETH in his wallet at IDAX. nearly 500k $ lost after 1 night. Therefore, this is a warning for holders who are overly confident in exchanges, especially small exchanges. We should have a cold wallet to store coins, never trust anyone. We should still hold more fiat.

[Bitbtc8]

Its nothing but a scam attempt, idax have no good record especially with past IEO projects, they steal from them and forced them to use their exchange, CMA Team stand up against them but idax win the battle

[Stanlo]

People should start considering decentralized exchanges, all these so called centralized exchange might just decide to go home one day, the only cex i trust is binance and huobi because they are big and their team are serious about their reputation

[fortunecrypto]

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.

There have been a lot of bad reports on IDAX that is why I stopped using them and I have no choice but to dump tokens that I have that can only be traded there when an exchange is not addressing issues and they are giving bad support, sooner or later they will do an exit scam, people should always get an update once they see bad reports about that exchange.

[Lantind]

Its nothing but a scam attempt, idax have no good record especially with past IEO projects, they steal from them and forced them to use their exchange, CMA Team stand up against them but idax win the battle

Not only on the CMA team, but on other project teams there have also been battles with the idax exchange parties, because of that the reputation of the idax exchange has declined in the eyes of exchange users, because idax always tries to deceive anyone.

[nanaimogold]

It is not just a scam attempt but a well executed scam from the IDAX team. Only criminals abscond with funds kept in their care and thats what IDAX CEO did as comfirmed by other members of the team. Funny enough, the signs have been there since quarter one of this year which was given by project platform cry outs on how the exchange renegades on agreements

[Emilyearl]

It calls for panic because its most probably a scam attempt or better still its a scam. IDAX exchange has been here for long for CEO to run with funds, it's a scam project team members should be able to identify where he is because someone must be in close contact with him. He can't pull the scam stunt alone someone else is aware of this.

[Kiefner]

Yes, it all looks like a scam. In addition, this once again shows us that you should not trust even the most reliable exchanges. Sooner or later, any of them can be hacked. And everyone should know that you need to store your funds only on wallets, where only you have access to them.