On November 13, the AAX cryptocurrency exchange suspended withdrawals, claiming they were dealing with a botched system upgrade. Shortly before, they had reassured their customers that they had stable reserves and no exposure to FTX.

On November 28, the company’s vice president for global marketing and communications acknowledged that he had resigned from the company, explaining on Twitter that « I did fight for the community but none of the initiatives we came up with were accepted. »

Upon realizing that the exchange was unlikely to resume withdrawals, some customers have taken it upon themselves to try to find AAX’s executives. Some showed up at the Hong Kong headquarters, only to find it deserted. Another user appeared at their Singaporean coworking space, also to find it empty. Users have been posting leaked personal identity documents of listed executives on Telegram, hoping to locate them.

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