Hong Kong police arrested two individuals related to local crypto exchange AAX The arrest comes more than a month after the exchange suspended withdrawals citing system maintenance Two executives of the Hong Kong-based crypto exchange AAX were arrested by the local law enforcement in Hong Kong. The arrests were made in connection with the abrupt […]
The arrest comes more than a month after the exchange suspended withdrawals citing system maintenance
Users were unable to view or access their funds on the exchange. This reportedly led to losses that stood a total of HK$98 million. The police also believe that the other executive fled with an AAX wallet and private keys that contain digital assets worth $30 million. This executive is believed to be the mastermind behind the plot to mislead investors and customers of the exchange.According to hk01’s report, the early signs of trouble became visible on 12 November. This was when the exchange ceased operations citing system maintenance and upgrades.
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