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. 
Topic: Is this a scam attempt? Or Nothing to panic? - page 3. (Read 779 times)
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 .
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.
What ever it turns out to be i am pretty sure that the money is gone.
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.
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.
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.
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.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.
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. 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.
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.
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. 
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
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?
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?
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. 
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. I don't know going forward, this is a bad image for crypto currencies,
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. 
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.
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.
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.
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
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. 
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.
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