PANews, February 26 — According to Hong Kong media outlet HK01, Hong Kong virtual currency trading platform AAX ceased operations in mid-November 2022 citing system maintenance and updates. Over 300 customers were unable to recover nearly HKD 100 million in assets. Hong Kong law enforcement authorities investigated and found suspected false information and illegal means used to cause the platform to shut down. The responsible party fled Hong Kong with virtual currency wallets and private keys, but was later arrested after returning to Hong Kong. Today, Hong Kong police stated that, after thorough investigation, a total loss of approximately HKD 81 million was suffered by 191 victims. The AAX operator withdrew about HKD 633 million worth of virtual currency after the platform ceased operations. He has now been charged with three counts of theft and one count of fraud.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Gemini Faces Class-Action Suit Over Prediction Market Pivot, Plummeting Stock Price
Gemini faces a class action lawsuit from shareholders alleging that the company misled investors about its business viability and concealed its shift to prediction markets, contributing to a significant decline in stock value.
Decrypt3h ago
Husband accuses wife of stealing over 2,000 bitcoins! Judge: The plaintiff has a very high chance of winning.
The UK High Court recently heard a Bitcoin theft case in which plaintiff Ping Fai Yuen accused his separated wife Fun Yung Li of stealing Bitcoin from his hardware wallet through secret surveillance, valued at approximately $176 million. Audio recordings and search warrant evidence supported the plaintiff's claims. The court maintained the asset freeze order but rejected certain claims. The judge found the plaintiff had an extremely high likelihood of success and recommended expediting the trial date.
区块客10h ago
SEC and CFTC Establish Crypto Taxonomy With Five Key Categories
U.S. regulators established a framework to classify digital assets into five groups, enhancing jurisdiction clarity. This includes commodities overseen by the CFTC and securities by the SEC, with special treatment for stablecoins and utility tokens based on usage.
CryptoFrontNews11h ago
A certain Korean CEX is pushing for the reelection of its current CEO, who was previously penalized by regulators due to operational errors
South Korea's second-largest cryptocurrency exchange platform remains committed to supporting CEO Lee Jae-won's reelection, despite the platform facing controversy over a Bitcoin misdisbursement incident and regulatory penalties. Despite major flaws being exposed, the exchange has chosen to maintain operational stability rather than pursue management restructuring.
GateNews12h ago
After Manipulating Bitcoin, Now Silver? Jane Street Becomes Largest ETF Holder, Silver Plunges 30% in One Month
Jane Street made a record purchase of 20.6 million shares of silver ETF in the fourth quarter of 2024, becoming the largest shareholder, after which silver prices plummeted nearly 30%, triggering market manipulation suspicions. Although there is no direct evidence supporting this claim, the timing between the position disclosure and the price collapse aligns, sparking discussion. Jane Street has been accused of insider trading but denies the allegations, with its market influence and behavioral patterns remaining under scrutiny.
動區BlockTempo14h ago
FBI: Fake TRC20 FBI Token Scam Emerges, User Privacy and Security Sound New Alarms
The FBI's New York field office has warned blockchain users to be vigilant against counterfeit FBI TRC-20 tokens, which are designed to lure victims into providing personal information through intimidation tactics and potentially direct them to phishing websites. The scam involves sending fake tokens to victims' wallets to create the appearance of official law enforcement involvement.
区块客16h ago
