Hong Kong police reportedly took actions in the case related to crypto exchange Atom Asset Exchange (AAX). Two executives of the exchange were arrested under the allegations of fraud and misleading. In addition the bank account related to the exchange was also shut down.
Police arrested CEO of Weigao Capital, Liang Haoming and founder and former chief executive officer of AAX, Thor Chan. Both the executives were accused by the local authorities that the said citing ‘system maintenance’ for delaying the customer assets withdrawal at the time of liquidity issue was an excuse from the company.
The crypto exchange platform said to halt its withdrawal operations in November and called “system maintenance” as the reason behind the halt that continues till date. Suspension of operations made about 2 million users of the platform unable to access funds. The police received more than 330 reports from victims across different countries including China, Taiwan, Italy and several others.
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