IDAX, next exchange to close?
IDAX, next exchange to close?

IDAX, next exchange to close?

By Alfredo de Candia - 29 Nov 2019

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In recent days, users of the Chinese IDAX exchange have been experiencing moments of high tension, due to the fact that the platform has had to suspend withdrawals on the grounds of congestion.

 A few hours ago, IDAX published an alarming new statement explaining that the CEO and founder, Lei Guorong, is missing and that for this reason the cold wallets have also been closed, with the result that neither withdrawals or deposits can be made.

“IDAX Global CEO have gone missing with unknown cause and IDAX Global staffs were out of touch with IDAX Global CEO.

The statement explains that the IDAX team is preparing an emergency plan for this situation and that they will try to restore withdrawals as soon as possible.

IDAX: Unfounded fear or disguise of a possible loss of funds from the exchange?

 At the beginning of the year, there was a similar situation with the Canadian exchange QuadrigaCX. The platform, in fact, also made a statement explaining the presence of technical problems but then revealed that the founder had disappeared.

For the time being, there are no reports on Twitter about the events surrounding the closure of IDAX.

Unfortunately, it is difficult to predict how the situation will evolve and whether it will lead to a loss for users. In the case of QuadrigaCX, there were losses of millions of dollars.


Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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