The company driving a purportedly Estonia-based cryptocurrency exchange DX.Exchange is ceasing operations adhering to a petition submitted by employees.
CX Systems, the Israeli company functioning DX.Trade, entered bankruptcy following 78 of its staff submitted a petition versus the company with an Israeli court docket, the Times of Israel described on Nov. 24.
The petition precisely alleged that DX.Exchange’s web site said that the exchange had been owned by an Estonia-registered company, even though in actuality it was operated by CX Systems.
Binary selections scam and relations with the ruling elite
Staff members also claimed that CX Technologies is a successor to SpotOption, previously a software agency allegedly concerned in a multibillion-dollar binary alternatives rip-off, which was ultimately raided by the United States Federal Bureau of Investigation and Israeli police, and was banned in the place in January 2018.
In the petition, the personnel also claimed that CX Technologies had not paid out their salaries for September or Oct 2019, when the petition was filed to the courtroom.
The petition also reveals that CX Technologies executive Miriam Mileikowsky is linked by relationship to Israeli Prime Minister Benjamin Netanyahu — remaining the spouse of Ory Mileikowsky, the key minister’s 1st cousin. The Marker documented that Ory himself practically went bankrupt just after dropping 90% of the cash of traders he had advised.
Suspension of functions owing to a merger
As Cointelegraph documented earlier in November, DX.Trade briefly shut down as it pursued a merger or outright sale. At the time, DX.Trade said that “the costs of supplying the required stage of protection, assist and technological know-how is not economically possible on our personal.” Even though pledging to launch additional details in owing class, DX.Trade exposed:
“The board [of directors] thinks this is the best prospect for DX.Exchange to obtain results for its shareholders and compete in this difficult marketplace. In the occasion a merger or promote is not concluded in a timely make any difference then the trade may possibly not resume functions and get appropriate action.”