Copy link
Increase text size
Decrease text size
Link copied

Crypto exchange IDAX halts services after CEO goes missing

Fri, 29 Nov 2019, 11:29 am UTC

International Digital Asset Exchange (or IDAX) has announced that the CEO of IDAX global has been missing for unknown reasons since Nov. 24. The identity of the CEO has not been disclosed.

Founded in 2017, IDAX is an international cryptocurrency exchange platform that claims to have originated from Global Blockchain Research Center (GBC). The official website GBC lists IDAX as one of its businesses.

With its CEO now missing, the exchange said that it cannot access its cold wallet, where it stored “almost all cryptocurrency balances,” and hence cannot provide deposit and withdrawal services. However, the amount held in the cold wallet has not been revealed.

In an urgent notice, IDAX said:

“IDAX Global is doing its best to try to grasp variety of news and current situation exactly including rumor on internet community. IDAX Global is drawing up an emergency plan about platform services including deposit/withdrawal service so it is recommended that you refrain from using our all platform services.”

On Nov.24, IDAX had announced its withdrawal channel was in a state of congestion after dramatic increase in withdrawal requests. It had also announced that it would no longer provide its services to China-based users.

CoinDesk reported that the firm appears to have links with Nianxiang Group, a Shanghai-based Chinese firm. The news portal found that GBC is owned by Nianxiang's overseas business unit. Also, the report names an individual Lei Guorong as the sole owner of Nianxiang Group.

Citing Chinese business registration data, CoinDesk further pointed out Nianxiang Group is registered in Shanghai and of the total 43 individuals that have named IDAX as their employer on LinkedIn, 26 are based out of Shanghai.

Earlier this year, IDAX also conducted a sale for IDAX Token (IT), its ERC-20-based exchange token, in which it issued 200 million tokens. The amount raised, however, is not known.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

  • Bitcoin (btc) $20,089.00 (-3.06%)
  • Ethereum (eth) $1,532.84 (-3.30%)
  • BNB (bnb) $376.56 (+12.01%)
  • USD Coin (usdc) $0.999629 (-0.04%)
  • Binance USD (busd) $0.993850 (-0.82%)
  • Bitcoin (btc) $20,089.00 (-3.06%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.