Published February 26, 2021, 9:42 AM
During my interview with Philippine Digital Asset Exchange (PDAX) CEO Nichel O. Gaba last Saturday, he promised that all users will gain access back to the exchange by Monday, 22 February 2021. As of Wednesday, 24 February 2021 10:00 AM — more than a week since the prolonged outage of the exchange — there are still 225 affected accounts that are still locked out of PDAX, according to an advisory sent to users. The controversial cryptocurrency exchange cites “complicated transactions” and “extensive reconciliation process” as the reason why some users are still unable to use their funds and assets.
Quite a number of their clients (more or less 2% of its total userbase) are still asking when will they finally regain access to their accounts more than a week after the so-called system glitch? Some of these users feel that PDAX is taking their accounts hostage as some of them being asked to transfer the cryptocurrencies that they hold to a wallet address controlled by the exchange.