IMPORTANT ANNOUNCEMENT: COMPILATION OF PENDING WITHDRAWAL CASE FOR NEXT ACTION
Dear DDK Stakeholders and DDK Partners,
Please note in regards to our announcement dated 2nd December 2019, that you can see from here – https://announcements.ddkoin.com/?p=952 ,the DDK Management has since then further discussed on the appropriate course of actions to be taken and clarifications to be made on several issues after which we have received some feedbacks from users / majority community and DDK Stakeholders that registered in SIMEX on below:
- SUSPENSION OF WITHDRAWAL
It has come to our attention that SIMEX has suspended a lot of withdrawal requests from DDK Stakeholder registered on SIMEX, in which stated by SIMEX support it was due to identified manipulations of DDK token trade and that they are currently transferring this to the supervisory and regulatory authorities before these requests can be processed and executed. SIMEX has taken an action to suspend these accounts even when withdrawal requests were made in the form of BTC / ETH and NOT just DDK. We are assuming that SIMEX is also suspending entire withdrawals transaction for DDK traders until further notice, while the deposits and trade of DDK is operating as usual.
Therefore, DDK Management would like to compile reports from entire users, DDK Stakeholders and cryptotraders that have submitted requests for withdrawals but was suspended by SIMEX through this link – https://forms.gle/3crDwdqACswsiaAu8
DDK Management will ensure that this compilation will be handed over to SIMEX Top Management including Mr Vassili Oxenux (President) and Mr Dymitri Chirun (Vice President, product) of SIMEX in order for SIMEX to take appropriate immediate actions following our initiatives as below:
- DDK Management will do an analysis of the total assets that were pending processing by SIMEX based on the report submitted for them to process immediately and execute the proper procedures of withdrawals.
- We will seek cooperation from SIMEX to expedite these processes for the sake of DDK Stakeholders to obtain their rights and assets.
- We will seek clarifications from SIMEX their estimated time span of these suspension for all affected accounts. DDK Stakeholders is entitled to be informed well on this as their assets is their rights.
- We will seek further SIMEX’s clarifications, their valid reason and proofs as to where or which regulatory body that “supervisory and regulatory authorities” were sent as stated by SIMEX support team for all affected accounts. DDK Stakeholders have their rights to know this as the users of the SIMEX platform.
- We will seek cooperation from SIMEX for others crypto players who are trading DDK and has passed the SIMEX KYC procedures to not be imposed with the withdrawals suspension as they are also seeking for justice and are not involved in any DDK manipulations as claimed by SIMEX support to all affected accounts.
Kindly submit your pending cases through link provided below:
Submission will be closed on the 9th December 2019 @ 8:00 PM Singapore Time.
DDK Management is well aware as a Blockchain platform provider and cryptocurrencies project owner, any Blockchain platform that were listed in Exchanges platform to be allowed for operating trading, must go through certain process before they can be listed through procedures such as due diligence and application form that has to be fulfilled with certain agreeable fees for listing. For this process, DDK project has passed and were listed in SIMEX since 31st May 2019. However, after more than six (6) months that DDK is listed on SIMEX, there were some issues as mentioned in the earlier official announcement in which we sought clarifications from SIMEX team to clarify these issues to DDK Stakeholders. DDK Stakeholders that traded DDK in SIMEX platform have definitely brought revenue towards SIMEX business through trading fees which includes withdrawals fees. Therefore, DDK Management will seek coaction from SIMEX team to process DDK Stakeholders that are registered on SIMEX’s entire pending withdrawals for them to obtain their rights as the user of this trading exchanger platform.
DDK Management is also aware as an Exchange platform, SIMEX have been efficiently carrying out their services and there were some improvements done by SIMEX on UI theme, withdrawals efficiency as well as the order book interface and also offering community offline and online support. This achievements and improvements of SIMEX has provided significant trust and valuable experience towards DDK Stakeholders. However, due to unprofessional and questionable business ethics that has been shown by SIMEX Management, majority DDK Stakeholders felt disappointed and uncomfortable. Therefore, with the pressure of majority consensus from the Stakeholders, DDK Management is putting efforts for to seek justice for DDK Stakeholders on finalizing their withdrawals as soon as possible. DDK Management is keeping our stance with the decision that DDK Management will move forward with our business without further collaboration with SIMEX Exchanges. However, before we can do the settlement and move forward from this unfortunate situation, DDK Stakeholders’ rights must be obtained. If SIMEX is unable to provide justice to the DDK Stakeholders and still delay on this due to their mismanagement of funds, we will look on other opportunity or options from DDK Foundation in order to ensure DDK Stakeholders assets will be refunded. However, we have to see this situation thoroughly and we have to take into accounts every risk management aspect with this negotiation with SIMEX.
DDK Management is also aware that as Exchange services provider that regulated under SEC, users registered and traded in SIMEX platform has gone through SIMEX’s KYC procedures and was accepted as users on their approval. We believe that any other Exchange services provider will honour and find ways to process its withdrawals requests as we believed any transaction in an Exchange platform such as trading as well as withdrawal is done on users own free will and volition and they was not coerced to do so, nor under duress at the time they were executing the transactions. Users and stakeholders are registered from various countries under the purview of Exchange and all the tokens that are traded in any Exchange is distributed in a Peer-To-Peer (P2P) environment for trading without boundaries regardless of any countries. We (DDK Management), as the Native Blockchain platform provider has done the necessary promotions and business marketing on promoting Exchanges where our coins are listed and encourage entire users to trade on these Exchanges to generate mutual benefits.
However, when SIMEX failed to observed their business ethics and create dis-harmonization towards DDK community with their false statements and communication and going as far suspending the withdrawals, entire DDK Stakeholders feel persecuted and victimize as unless any Terms and Conditions of SIMEX is violated, we don’t see there are reason why as an Exchange platform, SIMEX is suspending the users withdrawals. DDK is a decentralized platform that provides a Blockchain solutions towards its Stakeholders, the running of DDK token is can be seen and tracked transparently in the DDK Explorer and distributed in decentralized manner including its Pre-mined allocation – https://ddkexplorer.ddkoin.com/dashboard
- SIMEX ETH ADDRESS
We noticed that through this link – https://etherscan.io/address/0xff3249da62ca5286997f31f458959de9ae2f4dad , where some of the successful withdrawals received their respective assets from, where we believe that this is SIMEX’s Ethereum (ETH) Address, that up to this date 5th December 8:00 PM (Singapore Time), the amount of ETH is less than 1 ETH which is less than USD 118.00. However, in any cases, SIMEX is an Exchange platform and monitored by regulatory bodies under the US based company must comply not just towards its operation but also on its SOP (Standard Operating Procedure) and its processing flow and not in any ways that they have rights to hold users’ assets on their platform and also we will seek further clarification either SIMEX will use other address for withdrawals or they are actually losing or having insufficient funds in the same address to process the withdrawals.
As we all know that crypto Exchanges is a centralized platform that provide exchanges services from crypto to crypto or crypto to fiat. Thus, as a reputable Exchange platform, by right, SIMEX will have security measure generally provided by trading platform in order to safeguard the users assets and funds deposited to them to process withdrawals efficiently.
Therefore, it is very important for you to send the report to the link provided above (https://forms.gle/3crDwdqACswsiaAu8) for DDK Management (Legal Team) to do their analysis. After compilations of these cases, we will proceed with case analysis reports in which the same will be directly reported to Coinmarketcap (CMC) before CMC began to question us on the significant volume drop and no (zero) trading volume which will cause SIMEX to be delisted from our trading pairs.
In fact, on further extend, if the mutual understanding between SIMEX and DDK Management cannot be mutually finalized, DDK Management will also send the same reports and updates to SEC for their acknowledgement in order to seek their clarification as to whether as an reputable Exchange platform provider registered and regulated under SEC is entitled to hold / suspend / disable withdrawals functions ONLY for users that registered in their platform with approved KYC while accepting and running deposits and trading functions as usual. Here, DDK Management believe that DDK Stakeholders justice and clarifications must be fulfilled.
- TOKEN BY SIMEX
On this link – https://etherscan.io/tokenholdings?a=0xff3249da62ca5286997f31f458959de9ae2f4dad&ps=25&sort=total_price_usd&order=desc&p=2 , DDK Management has also noticed that there are numbers and different kind of token created by SIMEX which we believe it is beyond the knowledge of these entities, for example there are tokens of Barclays Bank, Adidas, Bank of America, BMW Group, Central Japan Railway and a numbers of others. Without proper official collaboration with these entities, it is questionable how and why is SIMEX creating these tokens, gaining profits and making business out of them.
We will seek further clarifications on this with SIMEX as we do not want to jeopardize users funds and assets that have been deposited into their platform for trading. As DDK Management is aware that any Exchange platform should be providing deposits, trading and withdrawals services efficiently and they are receiving fees / revenue based on the trading. In case that they are doing other business for their business expansion and if users’ funds it used for this expansion and whether this is the reason that the withdrawals has been delayed that they claimed was suspended due to manipulation until further notice? Here, DDK Management believe that DDK Stakeholders search for justice and clarifications must be fulfilled.
- COURSE OF ACTIONS
We would like to reiterate and strongly advise that Stakeholders will do the necessary measures to safeguard your assets as per announcement earlier and we would like to yet again remind you to do the followings:
- Please focus on official medial social group registered and established officially by DDK Management for a correct and verified information, directions and updates as below:
- To withdraw immediately entire of your asset that has been stored and trade in SIMEX platform until further notice due to questionable credibility of SIMEX which investigated by DDK Management.
- Please do not trade in SIMEX anymore due to these security reasons and for sole protection of your assets. Kindly channel your asset storage and trading with others Global Exchanges platform DDK/DDKOIN has been listed – https://www.ddkoin.com/
- For any matters or questions regarding SIMEX, please directly channel to their official support and contacts for tracking your cases and issues officially for the specific official regulators / bodies that monitored them (if further official bodies investigation is needed).
- Kindly avoid and remove yourself from any FUD information from fake accounts, fake users, and fake news about DDK and its ecosystem. Always directly go to our official channels in seeking updates and latest information.
This announcement is made in response of SIMEX’s suspension of withdrawals requests from DDK Stakeholders registered in SIMEX in which they claimed was due to identified manipulations of DDK token trade and that they are currently consulting with supervisory and regulatory authorities before these requests can be processed and executed.
However, DDK Management will always act for the best interest of DDK Stakeholders to seek further clarifications from SIMEX team in order to help DDK Stakeholders to obtain their rights and for us to move forward with our developments and planning that have been announced earlier for the preparations towards Year 2020 – https://announcements.ddkoin.com/?p=855 (English version) and https://announcements.ddkoin.com/?p=931 (Bahasa Melayu version).
Your cooperation is highly appreciated. Any updates and latest announcement will be send officially to entire of our official channel.
Apologized for any inconveniences.
DDK Management (Legal Team)