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Token migration and IDEX smart contract problem

Ethereum Asked by Crypto Lemma on November 21, 2020

During a recent token migration from token A to token B, a large number of token A were held by a number of people in an IDEX address (where it was ready to trade). The IDEX address is part of a smart contract that allows people to trade, deposit and withdraw, without IDEX having control over user funds.

When the new token B was minted, however, it was sent to all the addresses of token A holders, including the IDEX smart contract address. Whilst most holders of token A have access to their new token B, users holding their funds on IDEX have discovered that they cannot access the new token B. And since IDEX do not have control over the deposits and withdrawals to this address they claim that they cannot access any of the token B either.

Does anyone know if there is likely to be a solution to this, either on the part of the minting people (Consensys) or IDEX or the token holders themselves?

Many thanks!

One Answer

It's impossible to know if the minters have any options without knowing what the specific token is to inspect the contract. There's nothing IDEX users can do since the tokens were just transferred to the contract, so there aren't IDEX balances for the rightful holders of Token A. There's also nothing IDEX can do since they don't have an admin withdraw that can arbitrary withdraw tokens.

Answered by flygoing on November 21, 2020

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