LCX Monthly AMA Recap — LCX Telegram Community with Monty, CEO & Founder of LCX.com

Dear LCX community,

On June 10th, 2022, we had the most engaging and supportive AMA in our official Telegram chat, where our CEO, Monty C. M. Metzger (@montymetzger) answered questions from the community on various topics related to the LCX exchange revamp, iOS App, Tiamonds, WEF/ Consensus, upcoming launches, and more. We really appreciate the warm conversation with the community and would like to share the summary of our live Ask Me Anything (AMA) session, moderated by community moderator “King” & “Alex”.

Community Host

@montymetzger good to welcome you once again to this month’s AMA.

Community Host

LETS F-ing GOOOOOOO!

Community Host

Awesome and good to have you onboard?

Community Host

The community is busy, energetic, and perceived something great is going under the hood. 

Could you please give us an insight?

Community Host

Before we pick some questions from the community ?

Monty Metzger CEO: 

Yes – we feel the good vibes out there. $LCX community is simply amazing, so positive and motivational

Community Host

?

Community Host

Yeah that’s huge ??

Monty Metzger CEO: 

While the US economy is heading into a recession and inflation is at new peaks, it is also a time to strengthen our position. To strengthen the position of LCX and show the world how powerful the LCX platform is!

Community Host

Interesting, this is good move?

Monty Metzger CEO: 

We are continuously delivering, building, and improving.

Monty Metzger CEO: 

In the year of the tiger 2022, LCX is focusing on growth and we started many initiatives.

Monty Metzger CEO: 

The last few days we saw that these initiatives do pay off!

Community Host

We cherish the LCX community with high esteem and they’ve got a lot of questions for you.

So please, let’s get started!

Community Host

All eyes on us at the moment out there ?

Community Host

? What were the highlights from attending the #WEF22 in regards to LCX?

Monty Metzger CEO: 

Yes, while all others are tumbling and struggling in the current recession. We grow and we are stronger than ever!

Monty Metzger CEO: 

The Annual Meeting in Davos this year was important for LCX. Many 1-1 and backdoor meetings.

Monty Metzger CEO: 

After such a long time, it was good to see many of our advisors and partners again in person.

Community Host

Awesome! ?

Community Host

Backdoor meetings sounds interesting ? ?

Monty Metzger CEO: 

But this year, due to the different timing, there was no snow… and due to travel restrictions or other reasons, the large companies did not send their whole team. WEF22 was much smaller than usual.

Monty Metzger CEO: 

In terms of Blockchain and Crypto, it was the opposite. As many large companies did not show up, it was more space for innovative players who took over the little skiing village Davos.

Community Host

It’s nice ? good that LCX was there to spread the word !

Monty Metzger CEO: 

Such as Circle, Polkadot, Tradeshift, Filecoin Foundation, and even Plan B Lugano with Tether and Polygon. So much had been happening

Community Host

Nice Monty ! ?

Another important thing for our Community is Consensus 2022 … we see good marketing over there with our awesome LED TRUCK !!! 

How is LCX engaging there ?

Monty Metzger CEO: 

We met with all of them and many more. I met our strategic partner Polkadot and Parity Tech – and had meetings with many CEOs.

Monty Metzger CEO: 

Also I took some time to sit down with Jimmy and his current projects. https://twitter.com/montymetzger/status/1529046952385601537

Community Host

Very nice ???

Monty Metzger CEO: 

Jimmy Wales is also founder of Fandom which has an outstanding community of content creators. Very active and engaging.

Monty Metzger CEO: 

We also launched our “Goodbye Goldman” campaign in Davos with posters all around the city

Monty Metzger CEO: 

https://twitter.com/montymetzger/status/1529032606846791681

Community Host

Awesome!

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???

Monty Metzger CEO: 

We launched a special landing page to showcase how to run a token sale – the legal way – in 2022. See https://www.LCX.com/davos/

Community Host

Bravo?

Monty Metzger CEO: 

Let’s jump over to Austin, Texas. 

Consensus 2022 is one of the largest crypto and blockchain events in North America. And this year LCX is all over the event.

Community Host

Interesting?

Monty Metzger CEO: 

LCX is visible on a large LED Truck which is circling around the main entrance of the Austin Convention Center, driving to Hilton Hotel and Fairmont Hotel where the conference registrations desks are.

Monty Metzger CEO: 

https://twitter.com/lcx/status/1534945831073337347

Monty Metzger CEO: 

Every participant will see this.

Community Host

Love it !!!

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???

Monty Metzger CEO: 

Further, if you hop in an elevator in these 5 star hotels. LCX will greet you with another video showing in the Lift on digital displays.

Community Host

Wow, that’s amazing ?

Community Host

Wow LCX is taking over Consensus 2022 ?

Monty Metzger CEO: 

We also booked some digital screens in the best bars next to the convention center. So when the Consensus 2022 is having a beer they will also see $LCX.

Community Host

?

Monty Metzger CEO: 

But in addition to this we have many LCX Ambassadors on the ground. Advisors, Partners and community members who talk about why LCX stands out.

Community Host

??

Monty Metzger CEO: 

Also some of the founders of our new rising stars, the new crypto gems launched at LCX token sale manager are present at Consensus 2022 this time. For example Patrick, the founder and CEO of NFT Maker ($NMKR) is jumping from one party to the next one. Sharing the news about LCX’s legal solution for token sale and our exchange.

Monty Metzger CEO: 

Especially the Cardano community is not getting evangelized about LCX!

Community Host

Interesting?

Community Host

Nice Monty thanks for the insights ??

Community Host

In addition to Alex’s question, a lot is happening around LCX in terms of adoption and regulations. Could you please share any insight as to what transpired in the NY Supreme Court case?

Monty Metzger CEO: 

That’s big news which came out 48h ago.

Monty Metzger CEO: 

Since our hack in January 2022 LCX had been silent and many things had been confidential.

Monty Metzger CEO: 

We were not able to share the progress we made and how passionately we had been following the stolen funds.

Monty Metzger CEO: 

LCX had been engaging with the police, public prosecutor in Liechtenstein first. But then also with Ireland law enforcement and US law enforcement.

Monty Metzger CEO: 

Let me explain how this developed.

Community Host

Awesome!

Community Host

LCX did an amazing job ?

Monty Metzger CEO: 

So in January almost $8 Million USD in digital assets were stolen from one of our wallets. The key infrastructure was not involved and our platform was safe. Also all customers did get immediate refunds. So all good!

Monty Metzger CEO: 

Investigation and international collaboration with law enforcement in Liechtenstein, Ireland, Spain and USA started

Monty Metzger CEO: 

Several tracing reports analyzing the transactions of the stolen digital assets had been prepared. LCX’s specialists conducted an algorithmic forensic analysis and tracing of the stolen assets through the crypto mixer Tornado Cash.

Monty Metzger CEO: 

Tornado Cash is a mixer protocol to hide the digital trail of blockchain transactions often used for money laundering and laundering of hacked funds.

Monty Metzger CEO: 

As a result LCX was able to identify the current location of the stolen funds and the wallets operated by the alleged criminal.

Monty Metzger CEO: 

This had not been done before.

Community Host

Great news??

Community Host

Setting new Standards.

Monty Metzger CEO: 

When funds are going through crypto mixers, especially Tornado Cash, the hackers felt safe. But we worked with a specialized team who could trace back all transactions. Just amazing work and knowledge

Monty Metzger CEO: 

And then one day. The alleged thief or group of criminals sent 500 ETH to a fully verified user account at Coinbase.

Monty Metzger CEO: 

?

Community Host

Indeed?

Community Host

?

Monty Metzger CEO: 

One transaction by the hacker was made to a verified user account at Coinbase Europe, a regulated entity in Ireland. To freeze these funds and get details about the potential perpetrator LCX’s team worked closely with the Police in Ireland, the Police in Liechtenstein and the public prosecutors of both jurisdictions. A court order by the Liechtenstein law enforcement was sent to Ireland and funds had been frozen by Coinbase immediately.

Monty Metzger CEO: 

A total of 500 ETH are frozen at this centralized exchange at the moment. Additional investigation to identify the hacker is on-going and a legal process to return the funds to LCX has been started.

Monty Metzger CEO: 

So 500 ETH are currently frozen at Coinbase.

Monty Metzger CEO: 

This alone could be a massive story.

Community Host

Good job?

Community Host

Indeed!

Monty Metzger CEO: 

But approx. 20 days  ago the hacker swapped ETH to USDC

Monty Metzger CEO: 

because of the falling ETH value

Monty Metzger CEO: 

U.S. Dollar Coin (USDC) is issued by Circle (Circle Financial Services) while Centre Consortium is operating the technology and is able to blacklist wallets, ultimately freezing USDC tokens in particular wallets.

Monty Metzger CEO: 

I emailed my friend Jeremy Allaire, the CEO of Circle, and he replied within 2 min.

Monty Metzger CEO: 

Since then we have been in close contact with the Center Consortium team and their lawyers. Big help.

Community Host

Great!

Community Host

Connections connections connections….

Monty Metzger CEO: 

But they cannot freeze wallets just because they think so… There are very strict rules to this. And have not frozen / blacklisted many wallets at all.

Our request was also very special for them and their team. It was handled with high priority.

LCX’s lawyers Holland & Knight and Bluestone, P.C., achieved a historic first that has major repercussions for the cryptocurrency markets.

And we were lucky to have such a smart judge at the New York Supreme Court who acted so fast. So within 24h there were several discussions and calls.

And we received an official court order by the Supreme Court of New York City.

Community Host

Quite interesting development ?

Monty Metzger CEO: 

Btw – It all felt like in the TV show Suits. Our lawyers are super smart and so fast. Within 12h overnight they created a 70 pages document laying out the whole case and doing background checks, research and checking if the data provided is correct.

Community Host

Amazing ?

Monty Metzger CEO: 

The Court Order includes two main steps !

First

Community Host

That’s awesome ! Fast and Quality work ?

Monty Metzger CEO: 

The New York Supreme Court ordered to blacklist the hacker wallet, ultimately freezing 1,274,249 $USDC. The Center Consortium followed suit and blacklisted the hacker wallet on-chain. 

Transaction USDC Blacklisting 0x8cc0c781c03a1b4d943450fb3b44eaf6742fe37b05291968aff7374f0e060c68

https://etherscan.io/tx/0x8cc0c781c03a1b4d943450fb3b44eaf6742fe37b05291968aff7374f0e060c68

Second,

Community Host

Awesome!

Community Host

Great development ?

Monty Metzger CEO: 

Second, the judge ordered the temporary restraining order (TRO) digitally. And we suggested doing this via an Airdrop using an NFT. So a few hours later we served the TRO to a defendant in a hacking case via NFT, which they are calling a “service token” or “service NFT ”.

Monty Metzger CEO: 

You can see it online at https://etherscan.io/nft/0xdc9ec0c966c3d3a552a228b3fe353848ce2f25f4/1

Monty Metzger CEO: 

The link of the “Service NFT” leads to legal documents including the TRO at https://www.hklaw.com/en/general-pages/lcx-ag-v-doe

Community Host

It’s so amazing how you handled that case !!!

Monty Metzger CEO: 

Once the Service NFT had been delivered, hundreds of clicks had been noticed at the URL.

Monty Metzger CEO: 

And we also saw that the hacker tried to withdraw USDC > which failed.

So we assume that the hacker has noticed the NFT for sure!

So why does this all matter for LCX?

First – This innovative method of serving an anonymous defendant was approved by the New York Supreme Court and is an example of how innovation can provide legitimacy and transparency to a market that some believe is ungovernable.

Second – The whole process visualizes the key Vision of LCX. And I am glad we can now openly talk about all the efforts and hard work of the past months.

LCX’s vision is to bridge the old financial world with the innovative blockchain technology. By combining best of both world, LCX achieved a historic milestone by freezing 60% of stolen assets:

1.3 Million $USDC had been frozen by Center Consortium

500 ETH had been frozen at Coinbase

https://twitter.com/montymetzger/status/1534282199981338625

Here you’ll find all the details

https://twitter.com/lcx/status/1534281678482448394

The timing for the disclosure of this news could not be better.

Right before the start of Consensus 2022 in Austin.

Community Host

That’s big and shows that LCX is Safe and Secure ! A lot of attention out there at the moment ✅

Monty Metzger CEO: 

As a result LCX is now being discussed all over. This has become one of the most important topics of the event.

Monty Metzger CEO: 

And we received a lot of media attention

Monty Metzger CEO: 

At Cointelegraph https://cointelegraph.com/news/anonymous-hacker-served-with-restraining-order-via-nft

Monty Metzger CEO: 

but also on many law and legal publications

Monty Metzger CEO: 

I was invited for many interviews.

Monty Metzger CEO: 

We are also the top headline at Watch.Guru

https://watcher.guru/news/is-the-nft-space-expanding-into-our-day-to-day-lives

Community Host

Let the world know about the community ! That’s big what’s going on right now ??

Monty Metzger CEO: 

And we are also feature as the main topic at the Coingecko Newsletter 

https://newsletter.coingecko.com/archive/main_newsletter_list/-NFTs-lay-down-the-law–3496.html

Monty Metzger CEO: 

I mean the newsletter is sent to hundreds of thousands of crypto traders.

Monty Metzger CEO: 

With the change in strategy – to fully go public with all the details of the investigation we are making it even more complicated for the hacker

All hacker wallets are now flags. So blockchain tracing tools will be alarmed when transactions happen

and our community will also be supporting tracking the funds!

But even more important.

Monty Metzger CEO: 

Other exchanges are pressured by regulators as they do not comply with any laws or simply ignore the rules. Many are even facing lawsuits by the SEC or other regulators currently…. 

LCX is following our vision, our vision to create the next generation of crypto exchange. And to create a safe and compliant platform to launch any token via a token sale or initial coin offering.

Monty Metzger CEO: 

So for all projects out there…. who want to create and sell their own token. LCX has the solution. We are registered Token Issuers and handle all the legal aspects.

Monty Metzger CEO: 

Details are online at LCX.com/Austin

Community Host

In simple words: LCX IS THE FUTURE ??

Community Host

Monty now the next one

Community Host

The most important for our community

Monty Metzger CEO: 

yes – go ahead

Community Host

Will the Revamp and IOS app be launched in June?

Monty Metzger CEO: 

The iOS App looks great

Monty Metzger CEO: 

We had been doing many quality checks and tests. One small issue is now remaining which is only on one specific iPad version.

Community Host

???

Monty Metzger CEO: 

I assume this will be solved over the weekend and then we can do the final submission to the Apple App Store.

Community Host

Sounds amazing !!

Monty Metzger CEO: 

This means it might still take a few weeks until Apple gives full approval. Pre-Approvals is already done.

Monty Metzger CEO: 

So – the iOS App will be launched next

Community Host

Very Hyped up ! Community get ready it’s coming ??

Monty Metzger CEO: 

And once this done we will prepare the countdown to LCX Exchange Revamp

Monty Metzger CEO: 

It never gets boring at LCX

Community Host

Many have been asking for this?

Community Host

Indeed, yes?

Monty Metzger CEO: 

…. and btw. Our security firm will pick up another 100 diamonds for new Tiamonds NFT in the next few days and deliver them to our vault in Liechtenstein.

Community Host

Great development ??

Monty Metzger CEO: 

So keep watching Tiamonds.com and @Tiamonds on twitter. There will be updates soon.

Community Host

Awesome !!! ? exciting months ahead ?

Community Host

We can’t wait ???

Monty Metzger CEO: 

Tiamonds.com will also be present during NFTNYC is the largest NFT conference in North America.

Community Host

That’s amazing !!

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Wow??

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Spread the word everywhere ?

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Hey guys, we value your contributions and support. 

Unfortunately, there’s not much time to move on from here thus, we will open the community for you to interact with Monty directly.

Thanks for your support!

Community Host

Let’s welcome your questions guys.

Community Host

Are you ready?

Monty Metzger CEO: 

yes!

Community

Since NFT is popular nowadays, is there a plan for NFT integration?

Monty Metzger CEO: 

Tiamonds.com is a product by LCX and it consists of 6 smart contracts working in harmony together. It’s a powerful platform similar to OpenSea but fully focusing on tokenized diamonds. As such, LCX has a fantastic NFT platform in the market. There is a big update coming for Tiamonds which will include the token governance structures. the token voting. and a full marketplace to trade. 

Currently Tiamonds NFTs can be bought and sold at OpenSea or Rarible. But soon….. our own marketplace will launch. This will be impressive!

Community

Will Fire Salamander have governance with LCX token or will it have its own token some day

Monty Metzger CEO: 

Currently it’s planned with an LCX token. Would you like to have a new Fire Salamander token – E.g. airdropped to LCX token holders? Your thoughts?

Community Host

Please no. Only LCX token??

Monty Metzger CEO: 

Full focus is on LCX token. All efforts are to strengthen the LCX ecosystem

Monty Metzger CEO: 

Btw – today BTS launched Proof, their new single. I posted this as a joke https://twitter.com/montymetzger/status/1534779323646869504

We spoke with the BTS management last year.

They are not interested in doing anything with crypto.

Monty Metzger CEO: 

While I believe a $BTS token would be amazing for their BTSARMY. for loyalty points, for utility or even for ticketing for events.

If you meet one of them, just tell them to call me – we can make this happen!

Monty Metzger CEO: 

sharing the LCX truck at Consensus 2022 with you again.