Bibox is an exchange platform. I used it to trade KEY(bihu coin). Few days ago, the exchange was down for several days. I saw some negative comments about this platform and how the extensive downtime had affected trading.
Usually I won't check my account too often. I tend to hold long instead of short. As I am not very good at short trading. There were few occasions when I tried short, it ended up as very poor decision from long term perspective. One of the example is KEY. I made some Key coins from Bihu content platform, I sent the coins to Bibox and held it for over a year until earlier of 2019, I decided to sell it as I saw price went up a lot from 1 penny to 6 pennies(in rmb. I was happy with the profit% so I decided to sell them off. Yes, I made few hundred RMB from that transaction. But guess what's current KEY price only couple months later? It's over 2.5cents(rmb! Oh boy, how I wish that I didn't sell those coins!
Anyway, when I saw more and more articles from some popular writers mentioned about this maintenance by Bibox, I couldn't help but logged in to check it out. Well, it started very smoothly, I had no problem to log into the site. But then, wait, where is my coins? Guess what, I couldn't find my coins. Wait a minutes, maybe it's not as bad, as I can still see that under my account, there are some $$ in it even though I didn't see the detailed coins.
I went to some friends for this issue, and was told that anything could happen with this site. They may run away! Not sure if they were trying to scare me, but there was really nothing that I can do. So I tried to brush it off and kept it at the back of my mind until today, after few days, I re-logged in, ta-ta, I saw all my coins! The site has fully functioned and up to speed...
Gladly it was just a drama, but it does remind you that it's better to keep your coins with you than trusting any exchange platform.