Two suspects arrested in Hong Kong for AAX fraud

Local sources reported that 2 men who were progressive with the AAX probe were arrested successful Hong Kong connected Dec. 23.

According to section instrumentality enforcement, the individuals were arrested for suspicions of fraud and misleading constabulary officers.

AAX bankruptcy

Weeks aft the FTX collapse, connected Nov. 28, AAX exchange’s Vice President Ben Caselin announced his resignation. Caselin said helium resigned due to the fact that helium disagreed with the caller institution decisions.

Reportedly, Caselin disagreed with AAX’s determination to state bankruptcy and liquidate each assets. However, a informing accompanied the company’s decision, stating that the employees could lone person their salaries for November, and users could lone retrieve fractional of their assets.

Local quality sources indicated that AAX users person mislaid implicit 100 cardinal yuan successful total, which equates to $14.3 million.

FTX fallout’s interaction connected idiosyncratic investors

A caller report that examined the interaction of the important events successful 2022 revealed that FTX had the astir sizeable effect connected each who went bankrupt oregon collapsed.

The study considered Terra-Luna’s illness and the bankruptcies of Voyager, BlockFi, Celsius, Mt.Gox, and FTX.

The fig of crypto investors impacted

According to the numbers, the FTX fallout affected implicit 1 cardinal investors, which is considerably higher than the 600,000 and 572,000 investors affected by Celsius and BlockFi bankruptcies, respectively.

The station Two suspects arrested successful Hong Kong for AAX fraud appeared archetypal connected CryptoSlate.