idax-554IDAX International Digital Asset Exchange, IDAX, an Asian crypto exchange whose users have been unable to make withdrawals since November 24, has announced that it’s CEO, who allegedly absconded with the exchange’s cold wallet is still nowhere to be found and as such, it is suspending all deposits and withdrawals indefinitely, according to a blog post on November 29, 2019. As stated in its blog post, since notifying the public on November 24, 2019, about the serious “network congestion” challenge that made IDAX unable to process customers’ withdrawal requests, founder and CEO of the platform, Lei Guorong has gone missing, taking the exchange’s cold wallet with him. The exchange reportedly carried more than $763 million in 24 hours for the past day. Since November 23, 2019, RealTract team has received a lot of negative feedback on the restricted withdrawal function at IDAX exchange. Some users could not withdraw BTC, ETH and various other coins including RET token. RealTract team has tried to contact and work with the IDAX admin and has yet to receive any response from IDAX.

Detail Analysis

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IDAX

Submit Incident Report

Date:

Status:

Count:

Contributor:

November 29, 2019

Verified

zerofriction.io

Loss Amount:

763,000,000

Recovered Amount:

Currency:

Dollars, ETH

KYC By:

Audit By:

None

Website:

No data

Twitter:

No data

Discord:

No data

Telegram:

No data

Medium:

No data

Github:

No data

Key Indicators

Platform:

Type:

Category:

Method:

Exchange

Assets

Scams

Extended Method:

Rug Pull

Data Sources:

https://bitcoinist.com/idax-exchange-whats-really-happening-to-withdrawals/

International Digital Asset Exchange, IDAX, an Asian crypto exchange whose users have been unable to make withdrawals since November 24, has announced that it’s CEO, who allegedly absconded with the exchange’s cold wallet is still nowhere to be found and as such, it is suspending all deposits and withdrawals indefinitely, according to a blog post on November 29, 2019. As stated in its blog post, since notifying the public on November 24, 2019, about the serious “network congestion” challenge that made IDAX unable to process customers’ withdrawal requests, founder and CEO of the platform, Lei Guorong has gone missing, taking the exchange’s cold wallet with him. The exchange reportedly carried more than $763 million in 24 hours for the past day. Since November 23, 2019, RealTract team has received a lot of negative feedback on the restricted withdrawal function at IDAX exchange. Some users could not withdraw BTC, ETH and various other coins including RET token. RealTract team has tried to contact and work with the IDAX admin and has yet to receive any response from IDAX.

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