On November 11, IDAX officially celebrated the second anniversary of the platform on Twitter.
On November 29, the office address of the exchange in Shanghai was vacant, and CEO Lei Guorong was accused of running away with a cold wallet.
According to information provided by relevant sources, the exchange IDAX has been registered. The case is currently the focus of the police, and the police have arrested many people in Shanghai.
Everything happened too suddenly.
Didnt I say before that there are P2P deficit traders who set up exchanges in the currency circle and run away with money sooner or later? One of the things I said is this, I didnt expect to run away so soon. A person familiar with the matter told BBNEWS.
01. Users defend their rights, employees are cheated, and the office is empty
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Reports circulated on the Internet
The letter states:
1. Lei Guorong operates a digital currency exchange business in Shanghai with a Mongolian digital currency exchange financial license, and the funds involved in the case amount to more than 20 billion U.S. dollars;
2. IDAX issued the platform currency IT on February 22 this year. Lei Guorong took away all user assets and lost contact on November 21. All employees of the exchange were on holiday on November 21. The trading system could not operate normally, and user assets could not Withdraw cash, the office building is empty;
3. Thousands of users from all over the country will go to Shanghai to defend their rights.
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IDAX user report scene, picture source: Ying Jian
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Image source: Fund Interpretation
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Image source: IDAX bar
Under the role of users rights protection, as mentioned at the beginning of the article, IDAX has been registered. As a result of the investigation, the employees scattered and the office building was empty.
A former employee of IDAX said that the company has voluntarily resigned and passively resigned. My own salary, reimbursement and mainstream currency are gone, and the loss of user platform currency is also real. In addition, some employees said that the exchange lost money, cheated our employees, and the boss may be hiding.
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video screenshot
02. Who is IDAX and what is the IT distribution system?
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Source of information: BITESKY
IDAX officially stated that the company is headquartered in Mongolia and has obtained a financial license for digital currency transactions authorized by the Mongolian government, as well as a number of policy supports from the country.
In the report letter mentioned above, it was mentioned that Lei Guorong has been operating the exchange business in Shanghai under the Mongolian digital currency exchange financial license (under the banner) since 2017, and on February 22, 2019 Issued its own platform currency IDAX TOKEN (IT) on the day.
The implication is that IDAX’s operation of the exchange business in Shanghai is not compliant, and the issuance of platform currency IT involves more serious 1C0 activities.
On June 18, IDAX and Guangyaohui jointly launched the platform currency IT lock-up plan, with a monthly income of up to 20%.
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Source of information: Tencent Video
After the launch of the IT lock-up plan, the platform currency rose from 3.5 yuan to 10 yuan within three months, and then fell to 2 yuan.
According to online information, the Guangyao Club is a new organization packaged by IDAX. After the IT crash, the IT lock-up plan was changed to MMT (the token issued by the Guangyao Club), and the MMT lock-up plan was launched. After that, MMT also ushered in a sharp drop, with a drop of 99.9%. People cant help but wonder whether IDAX is suspected of smashing the plate and cutting leeks.
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Source of information: IDAX official website
In addition to the loss of platform currency, some users also expressed that there was a problem with withdrawing mainstream currency. Many project parties and merchants have reported that they cannot withdraw their currency.
By November 24, the exchange announced that due to policy reasons, the official website and APP no longer provide services for users in China. On October 29, the platform official stated that the CEO has not been contacted because the cold Wallet, unable to provide deposit and withdrawal services.
So far, a case of harvesting leeks in the platform currency mode game that has lasted since June has completely surfaced. As a netizen said, This may be a premeditated incident of cutting leeks. It may have started when IDAX launched the platform currency CX model in June.
But now, according to online information, the CEO of the platform, Lei Guorong, has run away with the private key of the cold wallet, leaving investors with a blood loss, and the companys employees have been dismissed.
03. The massacre caused by the platform currency, or caused by the founder’s P2P deficit
Today, BBNEWS found a few people with knowledge of the inside information and asked about the reason why the IDAX incident fermented to run away.
The running away incident is related to the sharp drop of the platform currency and then the transfer of shares. One of the people familiar with the matter said, I learned that it was mainly caused by the IT rights protection of the platform currency, and then continued to ferment, and it became bigger and bigger.
According to another person familiar with the matter, the reason why the IDAX platform currency IT has plummeted may be related to the P2P deficit of the boss Lei Guorong. He was involved in P2P. There was a problem with the P2P company, and there was a problem with the delisting of the platform currency, and then investors defended their rights and called the police. It seems that dozens of people were arrested.
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The information comes from netizens breaking the news
The whole incident was actually a massacre caused by the platform currency IT. Of course, P2P must also have a deficit, which is determined by the nature of the entire P2P industry. As for whether this incident will be transferred to other businesses, to be honest, I dont know.
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Image source: Ranking of funds, it is difficult to verify the authenticity of the information
In addition, because IDAX involves the Korean market, it is understood that this matter has also caused a lot of noise in South Korea.
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Information from netizens
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Source of information: Wangdaijia
So far, the puzzle of the development of the IDAX incident has been basically completed. According to information provided by informed sources, IDAX CEO Lei Guorong is involved in the P2P business. P2P business needs to fill the shortfall due to problems. On the one hand, it may lead to a shortage of funds and cannot maintain the operating expenses of the IDAX platform. , and does not rule out the possibility that IDAX will cut leeks by launching the platform currency mode.
And as one of the whistleblowers said, the collapse of IT prices, share transfers, and the suspension of exchanges to provide services to users in China have led to user rights protection. road.
According to what is known so far, IDAX’s platform currency IT has launched a mode of gameplay since June this year, which shows that the entire running event has actually been fermented for half a year.
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Source of information: Tianyancha
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Information source: National Enterprise Credit Information Publicity System
A case that is inextricably linked between P2P and the exchange platform currency mode gradually fermented and finally broke out in half a year. BBNEWS hereby reminds users to pay attention to the risks of digital currency transactions.
