CEO of Crypto Exchange IDAX Global Disappears, Experiences “Impeded Withdrawals”

An opaque cryptocurrency exchange IDAX Global has reported that its CEO has disappeared. The news comes at a time when the exchange was experiencing “channel congestion” for withdrawals.”

Several days ago, IDAX Global posted the following note:

Dear IDAX users:

Recently, the demand for IDAX withdrawals has increased dramatically. The channel that causes the withdrawal of the mainstream currency is in a congested state. IDAX is reviewing the user’s withdrawal requirements, please wait patiently. 

IDAX reserves the right to make adjustments and final interpretation of this announcement. Thanks for your support!

IDAX global block chain digital asset exchange

Today, IDAX Global is reporting the disappearance of its CEO.

IDAX Global posted the following notice:

Dear user,

Following the official announcement “Announcement of IDAX withdrawal channel congestion” on November 24, We announce Urgent notice about current situation of IDAX Global.

Since we have announced the announcement on November 24, IDAX Global CEO have gone missing with unknown cause and IDAX Global staffs were out of touch with IDAX Global CEO.

For this reason, access to 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 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.

We are really sorry for this situation and for all damaged users who love IDAX.

IDAX global block chain digital asset exchange

According to its Twitter page, IDAX Global is based in Mongolia.

The company’s website claims:

“IDAX (www.idax.pro) is an international exchange platform originating from GBC (Global Blockchain Research Centre). IDAX was founded in 2017 and within several month(s) it gained to be in Top 10 exchanges of CMC rank. We provide IDAX users from all around the world with convenient, safe and fast digital cryptocurrency transaction service(s). For the better support of users in other countries, IDAX now has its branches in Singapore and South Korea. We provide trade pairs from BTC, ETH and USDT. Recently we launched fiat transactions as well.”

Some chatter swirled around the possibility that the CEO has absconded with some of the funds.

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