Is this a scam attempt? Or Nothing to panic?

[Litzki1990]

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?

Their was always a bad news we read or heard in crypto about hacking and scam problem. In the past days we are worried in etherium because the hacker steal a big amount of money and now we read again about IDAX for suddenly missing of CEO. Maybe they have next problem again will be begin but we hope will not happen because need to earn more in crypto.

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[InwardContour]

I have been saying it, most of the hacks we have been experiencing aren't actually outside hack but inside job and been disguise as exchanged been hacked. This new isn't new and won't be the last we'll be hearing such news of CEO running away with traders fund but they only thing you can do is to avoid been a victim by not storing your coins on exchange. Exchange should only be used foe trading and not as wallets. It's a purely a scam attempt.

There are claims that some exchanges cook up their own hacks just to evade tax or for scam reasons. However, I like your point stating we all should only use exchanges for trading, and not as wallet for storing coins (especially for long term). Unfortunately, sometimes you can be victimized no matter how careful you are, a friend who is a pro-trader got affected by this IDAX scandal, he just wanted to trade and withdraw his funds but fell prey in the process.

[lunnatic]

I have been saying it, most of the hacks we have been experiencing aren't actually outside hack but inside job and been disguise as exchanged been hacked. This new isn't new and won't be the last we'll be hearing such news of CEO running away with traders fund but they only thing you can do is to avoid been a victim by not storing your coins on exchange. Exchange should only be used foe trading and not as wallets. It's a purely a scam attempt.

There are claims that some exchanges cook up their own hacks just to evade tax or for scam reasons. However, I like your point stating we all should only use exchanges for trading, and not as wallet for storing coins (especially for long term). Unfortunately, sometimes you can be victimized no matter how careful you are, a friend who is a pro-trader got affected by this IDAX scandal, he just wanted to trade and withdraw his funds but fell prey in the process.

really makes us worry, even though IDAX has become a comfortable trading place, my friend has 11 eth there and he must be willing to lose,
I don't know going forward, this is a bad image for crypto currencies,

[Rosilito]

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?

Problem are occurring one after another. Anyway the two issues are both different but it is just sad to know tons of people who pay effort to earn such money, and it will be getting away by just a greedy man. Having him in jail and paying huge amount of money for his punishment isn't enough because it causes a lot of panic, and it block people specially those who urgently need the money for a specific circumstances. That is why I don't trust centralized stuff, because authorities may turn its back on us.

[dirgayeah]

exactly every ppl which has a huge fund on there will get a heart attack if they know this. so the big question from me.
why they still trust centralized exchange to store all their funds? and as coinmarketcap view, the volume was $800 million in a past day.
just learning from MT-GOX case, when the biggest exchange in that era also can be a big scammer for us. or maybe they try to run away from a TAX bill? 

[starblocks]

That was quite fortunate for you, but not everyone is so lucky, and this is a problem many day traders face when they trade cryptocurrencies on exchanges that aren't regulated and compliant and have the right safeguards in place like insurance for customer funds so be careful of where you choose to trade

[lepbagong]

That was quite fortunate for you, but not everyone is so lucky, and this is a problem many day traders face when they trade cryptocurrencies on exchanges that aren't regulated and compliant and have the right safeguards in place like insurance for customer funds so be careful of where you choose to trade

Agree with you, that not many people get luck from the problems that will occur but can be solved. because there have been many incidents and it seems to have become routine there is better to look for those that have indeed been tested and many become references. because we can not avoid the actions that like to cheat other than we reduce by not arbitrarily determine something.

[Eugenar]

Basically they will not do it in a sudden, they will take the steps slowly and the fact that the their CEO is missing is already a sign that there will be a fishy actions that will follow that event. I highy suggest taking out the funds from the exchange and keep it somewhere safe. We couldn't really trust some exchange, maybe they provide us with good service but in the end, their real plan will come out and take our funds away. Use some centralized exchange if you want better security. Prefer those that have a top reputation in the market.

[Xxmodded]

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.

Not respond from IDAX exchange owner I think have to panic because have potential to IDAX become scam, how ever right now can't withdraw fund again and owner of IDAX have gone, maybe just waiting several days later for formal announcement of IDAX become scam exchange market to public, you have update news when available for withdraw on IDAX keep withdraw your assets.

[Serco]

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.

Not respond from IDAX exchange owner I think have to panic because have potential to IDAX become scam, how ever right now can't withdraw fund again and owner of IDAX have gone, maybe just waiting several days later for formal announcement of IDAX become scam exchange market to public, you have update news when available for withdraw on IDAX keep withdraw your assets.

this case will make cryptocurrency investors affraid again. Previous case not solved yet and now occur new  case again. Hopefully official announcement will be good news for idax customer and crypto community.  In my opinion there are other people that hold key , so if CEO gone there are person that could save this exchange.. Atleast  three person that hold key , single person really makes us worry if exchange lost their CEO.

[LouVandetta]

It's kinda different from other news where other exhcanges got hacked, but this one here is because the CEO has gone missing. It's pretty much a scammed.
Kinda feel bad for the users that still has their funds over the exchanges and they have already restricted any transaction whether it's deposit/withdrawal. Will they cover the losses of their users? We'll have to wait for more update from them, in case they found the CEO that has gone missing that only God knows their whereabout.

[Enzo05]

I received a particular email about it as well where CEO is missing and they locked the cold wallet. Good thing I already removed my assets there a month ago which is combination of my invest and friends it's a total of $4000 in total.

[o48o]

I mean why it wouldn't it be an exit scam?! Look at the history of crypto exchanges exit scams and there are so many i can't even find all of them having a mention online.
What ever it turns out to be i am pretty sure that the money is gone.

[imstillthebest]

I received a particular email about it as well where CEO is missing and they locked the cold wallet. Good thing I already removed my assets there a month ago which is combination of my invest and friends it's a total of $4000 in total.

oh ? wow thats pretty huge amount of sums  .

good thing that you already pulled it out becuase its not only your money but its also your friend but good for that exchange because they still keep on updating thier costumer if ever there are problems . that only shows that they are legit imo because if they are scam , they will just exist automatically before everyone know's  .

on your case there is no need to panic yet but its also better to be safe than sorry  .

[Baby Dragon]

I have been saying it, most of the hacks we have been experiencing aren't actually outside hack but inside job and been disguise as exchanged been hacked. This new isn't new and won't be the last we'll be hearing such news of CEO running away with traders fund but they only thing you can do is to avoid been a victim by not storing your coins on exchange. Exchange should only be used foe trading and not as wallets. It's a purely a scam attempt.

Well said, sometimes they are taking advantage on the trust that was given to them to get the benefits they wanted. They keep on hiding the real story to the point that it's unrecognizable and that is the reason why it is difficult to trust those issues because you can't easily say if it's true or not unless they have finally said it. We have to be more careful these days when it comes to exchanges, we have to be more cautious because you don't want your funds to be wasted for nothing. It's sad to see that some people's time and effort to earn those money was gone that's why we have to be wise on choosing an exchange.

[Bitbtc8]

Its a scam exit and its nothing to worry about if you have no fund on the exchange though, this will make people see reason why dex is the better option, idax is gone and not coming back

[Reid]

Is it a sad story or just a normal one?
There have been a of cases like this. Just different kind of story.
They got hacked or they got back stabbed by another employee. Something like that.
It is all the same for me. They just need a reason to make money. They might be in a bad situation in financial needs and they need an exit.
This is just the way. The only way.

[miklesm]

Personally, I have never used IDAX Exchange. It is strange to use small cryptocurrency Exchanges instead of trading on Binance or Coinbase. If to talk about this occasion with IDAX, it looks like exit scam.

[Republikcoin.com]

Is it a sad story or just a normal one?
There have been a of cases like this. Just different kind of story.
They got hacked or they got back stabbed by another employee. Something like that.
It is all the same for me. They just need a reason to make money. They might be in a bad situation in financial needs and they need an exit.
This is just the way. The only way.

of course, this is a sad story. although idax is not very popular, but it is also a place of commerce for some people. this causes many people who come back to do not believe in cryptocurrency. like any type of exchanger, this news will get to international news and carry the name cryptocurrency in it. isn't that a bad thing when they use cryptocurrency for their greed. I hope Idax's CEO will be found soon.

[Google+]

Personally, I have never used IDAX Exchange. It is strange to use small cryptocurrency Exchanges instead of trading on Binance or Coinbase. If to talk about this occasion with IDAX, it looks like exit scam.

indeed if you have never used a new place of exchange it is better you can find the information first and as much as possible to remain vigilant if you want to trade in an exchange place that still does not have a good reputation, it's better to trade at an exchange that has been proven to have a high security guarantee.