IDAX Crypto Exchange Confirms CEO Dissappearance with Cold Wallet Keys

[StatesManG]

Idax has flaws already starting from the time an article was release by the some project over their ico scam. this was enough for traders to avoid such project. Now after the China government banning some exchanges, idax ceo went missing

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[bitkanu]

I don't believe what CEO is missing. It seems cheap lie. This looks like a complete exit-scam case. But the lies come out one day. It won't take long.

This is a scam. This information can't be trusted by us. i remember when so many exchange sites were wanna stealing the user's money and they are saying so many bullshit.
This one is a complete exist scam and i hope SEC will caught the scammer behind idax

[JeffBrad12]

Here's the reason we should not store our assets on exchange, like this news

According to the article it could be a type of exit plan.
This can be happened in any exchanges. There are many ways to lose our funds this is the one example.

Over and over again this has been said but people don't tend to listen. Early this year, Binance a top exchange was hacked, that should have been enough reason for people to save their funds off exchanges. Now this week alone, Idax CEO did this, while Upbit exchange was also hacked, when will people learn to be smart as only "you" can manage and secure your assets. The deed has been done by the CEO and it looks more like an exit scam and I hope the law enforcement will get hold of him.

Agree. Imagine if a top exchange like Binance which invests heavily into their security and even have a bug bounty program could still be hacked the lower tier exchange could be hacked aswell and not to mention the inside hacking that usually happen when there's a hole for their greed to grow. Saving money in an exchange is simply giving away our right to that money to the exchange and that could mean we're being dumb for giving our money to third party.

[nicster551]

Well theres always been a bad comment on idax for a long time so it is not really safe to store your funds there. Idax CEO is not that famous unlike CZ of Binance. But yes it is true that do not store your funds in exchanges especially new and scammy excanges. But in terms of Binance, I still hold all of my funds in there and have complete trust in CZ.

[irixo10]

Here's the reason we should not store our assets on exchange, like this news

According to the article it could be a type of exit plan.
This can be happened in any exchanges. There are many ways to lose our funds this is the one example.

The last time it was a CEO dieing with the cold wallet keys and now another CEO running away with the vold wallet keys. This has been said many atimes, storing assets on exchanges is a bad call as various issues can come up. Now we know that in addition to exchanges been hacked, CEOs can run away with cold wallet keys, who knows the one we will hear tomorrow. Let's start taking caution by securing our assets offline.

[htsy585]

This is exactly why I think this cryptocurrency space should be regulated as soon as possible. Startup developers, exchange owners and investors as well should be made more responsible. I am so sure that if there were to be serious Jail consequences for such actions played by the IDAX CEO, this ugly incident would never have happened

[wywoc]

Here's the reason we should not store our assets on exchange, like this news

According to the article it could be a type of exit plan.
This can be happened in any exchanges. There are many ways to lose our funds this is the one example.

I don't think an exchange that all of us know that they fake trading volume like IDAX has such a large amount of money in a cold wallet. According to their latest announcement, I think IDAX CEO exit scam. They are very suspicious when not long ago been accused of fraudulent projects listing IEO on their exchange.

[Golftech]

This is exactly why I think this cryptocurrency space should be regulated as soon as possible. Startup developers, exchange owners and investors as well should be made more responsible. I am so sure that if there were to be serious Jail consequences for such actions played by the IDAX CEO, this ugly incident would never have happened

Not sure if that will be applicable with DEX it can be done with CEX which the business owners are entitled to applied with business permits wherever they will reside the business. But with dex there's no such things as decentralized is being practice. It's to risky if you are not that much familiar, you need to have strong knowledge in order to lessen the risk being victimized of exchange owners like this.

[plast555]

Indeed, this kind of news shows why we should not keep our investments in the exchanges. But still, we should not put all the blame on the exchanges. If you work with exchanges like Binance and Huobi, you don't have to worry about that, I guess.

[leea-1334]

This is exactly why I think this cryptocurrency space should be regulated as soon as possible. Startup developers, exchange owners and investors as well should be made more responsible. I am so sure that if there were to be serious Jail consequences for such actions played by the IDAX CEO, this ugly incident would never have happened

Not sure if that will be applicable with DEX it can be done with CEX which the business owners are entitled to applied with business permits wherever they will reside the business. But with dex there's no such things as decentralized is being practice. It's to risky if you are not that much familiar, you need to have strong knowledge in order to lessen the risk being victimized of exchange owners like this.

I think it is just investors who have to be responsible. Stop feeding all these scammy devs and owners with free money. Stop giving their stupid projects publicity. Stop throwing money into their ICOs. Stop promoting their projects along 100 other projects on all your feed to all your spammy walls.

[shoreno]

This is exactly why I think this cryptocurrency space should be regulated as soon as possible. Startup developers, exchange owners and investors as well should be made more responsible. I am so sure that if there were to be serious Jail consequences for such actions played by the IDAX CEO, this ugly incident would never have happened

Not sure if that will be applicable with DEX it can be done with CEX which the business owners are entitled to applied with business permits wherever they will reside the business. But with dex there's no such things as decentralized is being practice. It's to risky if you are not that much familiar, you need to have strong knowledge in order to lessen the risk being victimized of exchange owners like this.

I think it is just investors who have to be responsible. Stop feeding all these scammy devs and owners with free money. Stop giving their stupid projects publicity. Stop throwing money into their ICOs. Stop promoting their projects along 100 other projects on all your feed to all your spammy walls.

lol yeah  . if we do want to stop scams and frauds , we shall start it on our own little ways and not wait for other actions or on the govt's action . i hear that when people got scammed they also blame the govt's and higher authorities  which i find them funny   . cryptos ( most of them ) are also regulated on most countries and i think exchanges even the dex'es ones can also be regulated but we cant avoid such events like this because i think its not planned  . you cant predict what is running on peoples mind

[Elvyn247]

I've seen that trading is still ongoing on the exchange. Who are the ones doing the trading?

[leea-1334]

lol yeah  . if we do want to stop scams and frauds , we shall start it on our own little ways and not wait for other actions or on the govt's action . i hear that when people got scammed they also blame the govt's and higher authorities  which i find them funny   . cryptos ( most of them ) are also regulated on most countries and i think exchanges even the dex'es ones can also be regulated but we cant avoid such events like this because i think its not planned  . you cant predict what is running on peoples mind

Right? I think a lot of us in crypto keep forgetting that we are in crypto. We talk about freedom of money,,, no person or goverment to tell us what to do. And then,,, we get scammed and then we blame everyone else except ourselves.

We blame scam projects. We blame ICObench coinmarketcap, governments, campaign managers etc.

When it all was made possible because of us ourselves!

[freedomgo]

CMC already put a warning on their website.

https://coinmarketcap.com/exchanges/idax/

We have received reports that all deposits and withdrawals have been suspended until further notice and that the IDAX CEO has gone missing. Please be careful with your funds.

This is another bad news to the market, I thought IDAX will really compete with big exchanges as they have increase their exchange volume but I think they might be faking their volume due to this report, hopefully people will be aware about this.

[mdzahed134]

I don't believe what CEO is missing. It seems cheap lie. This looks like a complete exit-scam case. But the lies come out one day. It won't take long.

What a jokes if we heard thus rumour is CEO missing even though admits they unable to contact with CEO and can't access exchange own wallets. Idax exchange developer lies in many projects those are paid for IEO launchpad and stolen more 100 btc this fund collection by IEO purposes. So do not believe what say about CEO, It's a scammed exchange and fraudulent CEO.         

[JeotQ]

Idax scam many startup projects that raised fund with IEO on the exchanges, those projects who can stand up against them end up giving up because all actions are in vain, it seem idax consist of powerful people

[jessyj48]

Sounds like a big lie to me, there is never no exchange without it's CEO in the first place, how can the CEO disappeared without the team knowing where about of the CEO? More over how can we know if IDAX has its own team or it's been operated by just two criminals?