AAX Fraud Case 191 Victims Report HK81M Losses Suspect Charged
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AAX crypto exchange's 2022 shutdown led to 191 victims reporting losses of HK$81 million. Investigators allege operators withdrew HK$633 million in crypto after halting services. A suspect has been charged with theft and fraud as the investigation continues.
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- 191 victims reported HK$81M in losses linked to AAX’s sudden 2022 shutdown.
- Police allege operators withdrew HK$633M in crypto after halting services.
- A 39-year-old suspect faces theft and fraud charges as the probe continues.
Authorities have released new details about the 2022 collapse of crypto exchange AAX, including losses and the alleged mastermind behind the shutdown.
Hong Kong’s Commercial Crime Bureau says 191 victims have given statements so far, reporting total losses of about HK$81 million. Investigators also claim that after AAX stopped operations in November 2022, the platform’s operators withdrew virtual currencies worth around HK$633 million.
AAX’s Sudden Shutdown
In mid-November 2022, AAX announced it was suspending services due to “system maintenance and upgrades”. The move prevented users from buying, selling, transferring, or w…
Read The Full Article AAX Fraud Case 191 Victims Report HK81M Losses Suspect Charged On Coin Edition.
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