$100 000 000 USD
DESCRIPTION OF EVENTS
"Digital assets are leading the charge Create, Grow and Secure your wealth with AAX"
"Top Performance for Fast Trading Using LSEG Technology, AAX is able to match orders with ultra-low latency for the ultimate trading experience." "High Security for Your Assets AAX is CCSS-compliant ensuring the safety of funds and client data." "Deep Liquidity & Tight Spread Trade futures with leverage with maximum efficiency and minimal slippage."
"They have 750usd in sign up bonuses. Count me in!"
"On the day of FTX’s bankruptcy, AAX stated it had no financial exposure to FTX and its affiliates. “All digital assets on AAX remain intact with a substantial amount stored in cold wallets and user funds are never exposed to counterparty risk from any financing or venture activities,” it said."
"Hong Kong-based crypto exchange AAX suddenly suspends all operations, citing system upgrades which require “our third-party partner to proofread and restore all users' asset data”. Expect to be completed within 7-10 days."=
"Hong Kong cryptocurrency exchange Atom Asset Exchange (AAX) has lost most of its staff to firings and resignations and is unlikely to resume operations after freezing assets on the platform on Nov. 13, former vice president and head of research Ben Caselin told Forkast News on Friday.
AAX, which had as many as 121 employees according to its LinkedIn profile though Caselin said the number was more than triple that, is one of a series of crypto-related businesses caught in the fallout from the Nov. 11 bankruptcy of the FTX exchange."
"In preparation for a potential legal battle, users with funds stuck in AAX have set up information-sharing groups like “AAX Rights Protection Group” on Telegram, which has drawn more than 2,000 members. The users are seeking information on their frozen assets and the whereabouts of the AAX team.
According to Caselin, the concerns about user funds are valid. “I think the best case scenario is to begin a formal process of unwinding the company, with funds going back out to user’s cold wallets.”"
"The number of victims in Taiwan alone is at least more than 1,000 people and the amount of damage has reached $100 million. It was a case of international fraud. Currently, the victims have sought legal channels, but the detection of international cases requires the assistance of the Bureau of Investigation to avoid absconding and leave the country."
"On 8 March 2023, pursuant to an Order of the Grand Court of the Cayman Islands (“the Court”), it was ordered that Angela Barkhouse and George Kimberley Leck of Quantuma (Cayman) Ltd. be appointed joint provisional liquidators ("JPLs") of Atom Holdings (In Official Liquidation) (“the Company”). Subsequently, on 11 July 2023, the Court ordered that the JPLs be appointed as Joint Official Liquidators of the Company (“the JOLs”).
The JOLs have appointed themselves or their affiliates as the directors or interim judicial manager (“IJM”) of the Company’s subsidiary companies in Singapore, Seychelles, and Malta. Luke Anthony Furler of Quantuma (Singapore) Pte Limited acts as the IJM of the Company’s Singapore subsidiaries AAX Asia Private Limited and AAX Singapore Private Limited.
The JOLs and IJM have engaged Kroll Issuer Services Limited as their claims agent which is managing creditor proof of debt claims on their behalf. AAX.com users with outstanding balances can register their claim as a creditor by completing the online form available in the “Claims” section of the website here.
AAX.com users who have registered their claim in this way will receive updates from the JOLs and IJM as and when the JOLs and IJM are in a position to do so."
Hong Kong-based crypto exchange AAX, which previously emphasized top performance, high security, and deep liquidity, has faced significant challenges. AAX suspended all operations, citing system upgrades requiring third-party verification of users' asset data, and expects completion within 7-10 days. The exchange's sudden halt has led to concerns about the fate of user funds. AAX's troubles stem from a series of events, including FTX's bankruptcy, leading to firings, resignations, and doubts about the exchange's resumption. The situation escalated to the appointment of joint provisional liquidators by the Grand Court of the Cayman Islands. Users with frozen funds are organizing information-sharing groups and seeking legal channels for recourse, with victims in Taiwan alone reaching over 1,000 people with $100 million in damages.
Stankoman comments on Hong Kong-based crypto exchange AAX suddenly suspends all operations, citing system upgrades which require “our third-party partner to proofread and restore all users' asset data”. Expect to be completed within 7-10 days. (Mar 16)
Hong Kong-based crypto exchange AAX suddenly suspends all operations, citing system upgrades which require “our third-party partner to proofread and restore all users' asset data”. Expect to be completed within 7-10 days. : CryptoCurrency (Feb 5)
Notice from Joint Official Liquidators (Feb 5)
Crypto Exchange AAX | Buy & Sell Bitcoin, Ether and Altcoins (Feb 5)
Hong Kong crypto exchange AAX has lost most staff, unlikely to reopen, says former executive (Feb 5)
Hong Kong-Based AAX Crypto Exchange Suspends All Operations (Feb 5)
@AAXExchange Twitter (Feb 5)
The Victims Of AAX Taiwan Alone Are More Than 1000 People, Losses Amounted To $100 Million - Coincu (Feb 5)
Shuttered AAX Will Close Out Derivatives, Citing ‘Chance’ of Return to Normal (Feb 5)
AAX cryptocurrency exchange suspends withdrawals (Feb 5)
@web3isgreat Twitter (Feb 5)
AAX, the first crypto exchange to support wETH direct deposits (Feb 5)