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IDAX Crypto Exchange Confirms CEO Dissappearance with Cold Wallet Keys



The International Digital Assets Exchange (IDAX) has today confirmed the reports of CEO going missing after days of uncertainty. As a result, the exchange has informed users that it has restricted access to their cold wallets. The exchange stated that its CEO went “missing with unknown cause” since 24 November.

Additionally, the announcement claimed that IDAX Global staff have made no contact with the CEO since the aforementioned date; the date when IDAX reported congestion on its withdrawal channel. However, that announcement was addressing the withdrawal congestion.

Interestingly, on the same date, Nov24, the Chinese exchange announced it will not be offering its services to users in China. This came after the PBoC issued a notice that several exchanges were being shut down in the country.

IDAX Drawing Emergency Plan


Moreover, in today’s announcement the exchange claims that it will set up an emergency plan for its services. However, it recommended to the users to cease using any of their services at the moment till further notice.
“[…] IDAX Global CEO has gone missing with unknown cause, and IDAX Global staffs were out of touch with IDAX Global CEO. For this reason, access to the Cold wallet, which is stored almost all cryptocurrency balances on IDAX, has been restricted, so in effect, deposit/withdrawal service cannot be provided. […] 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.”

Is this an Exit Scam?


However, the twitter users are still not convinced yet. Many of the users on Twitter are speculating that it might be an exit scam to run them down. The fact is as of now there is no solid evidence to support IDAX’S claims. In addition, there have been unconfirmed rumours that claim employees have been notified on loss of user’s data. 

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