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Chinese crypto exchange CEO missing

Following an official announcement about congestion to its withdrawal channel and the suspension of its operations in China on 24 November, Chinese cryptocurrency exchange IDAX Global has issued an urgent notice that its CEO, Lei Guorong, has gone missing. The news raises fears for users of the exchange that their funds could have been stolen.

As a result of Guorong's disappearance, access to the 'cold wallet', which stored almost all of IDAX Global's cryptocurrency balances, has been restricted. The firm says that, in effect, deposit and withdrawal services can no longer be provided.

"IDAX Global is doing its best to try to grasp variety of news and current situation exactly including rumor on internet community," the urgent notice said.

A crackdown on cryptocurrency exchanges by the Chinese government prompted the news last month that IDAX would no longer serve users in the country. The timing of Guorong's disappearance after that announcement has encouraged speculation as to the cause.

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FX Management & Crypto
Crypto currencies
Asia

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