Asia News Desk

IDAX had become, or at least appeared to be, one of the hot spots for projects to conduct an Initial Exchange Offering - similar to an ICO, but in theory IEOs provide additional assurances to investors by having the tokens sold by an established exchange, and with that comes knowing the token will be listed as well.Behind the scenes for weeks now, IEO's that used the exchange had been reaching out to each other to compare their experiences, all were finding one thing in common - what they got did not match what they were told to expect.Then, one of the more recent companies to attempt to IEO through IDAX decided to take the public route much faster, publishing a post on their blog that reads in part:For evidence, they also uploaded a recorded phone call with the IDAX operations department here My editor here at The Global Crypto Press, Ross Davis, runs PR for one of the projects that's caught up in this mess, TuneTrade, asking his opinion on the information coming out, he told me;However, it seems experiences vary, as he points out differences between what came out this week, and their IEO which occurred over a month ago:But why? I tend to agree with how he sums things up:In the interest of fairness, the post by Crypto Market Ads does focus in-part on IDAX being a member of Coinmarketcap's Transparency DATA Alliance, which aims to stop fraudulent or inaccurate trading information from being when in tracking coin prices and trading volume.However, one of my sources from a company still part of the DATA Alliance confirmed to me IDAX is out, and was before these accusations, sayingOther IEO's have already gone public over the last few days since I began working on this story, including Babbber, Migranet, and Stipend - making a class action lawsuit appear to be a likely next step.For IDAX to make the problem go away some companies have said they'll settle for their money back, they just want to move on. Other say they're preparing evidence for authorities, believing IDAX is deserving of criminal charges. The fees are up to 30 BTC in some cases, not a small amount easily given up by either side.We will continue to follow this story and bring you the latest!-------