2 executives of crypto exchange AAX arrested in Hong Kong: Report
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Hong Kong police arrested two executives of the crypto exchange AAX accused of fraud and misleading the police, according to local media reports. The former CEO of AAX, Weigao Capital Liang Haoming, and the founder of AAX, Thor Chan, were arrested on Dec. 23. Local authorities accused the company’s head of declaring “system maintenance” as an excuse to delay customers from withdrawing assets amid liquidity issues. One of the executives also lied to the police about the timeline of his activities in the company, deliberately misleading enforcement authorities, the police investigation revealed. Two bank accounts of AAX as well as
AAX, a crypto exchange, and virtual derivative service provider, has suspended all crypto operations, including deposits and trading, to proofread and restore user data. Ironically, AAX’s team is allegedly in talks to allow withdrawals in the name of ‘customer comfort.’ AAX suspends operations amidst an unexpected crisis AAX, a digital…
Hong Kong police have now arrested 12 suspects in connection with a cross-border crypto and money laundering group. According to the investigation, this notorious group moved over HK$118 million, worth about $15 million, through local banks and crypto exchange shops. Authorities say this operation is part of Hong Kong’s broader…
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