After the world's second largest cryptocurrency exchange FTX filed for bankruptcy, another cryptocurrency exchange AAX also went bankrupt, which can be regarded as the "Lehman incident" in the currency circle.
Coincidentally, both companies sent representatives to attend the Hong Kong FinTech Week held at the end of October this year, but the relevant information is no longer available on the relevant official websites.
Some AAX hosts questioned the organizer's approach as "there is no silver here".
"Hong Kong 01" has inquired about the above-mentioned incidents from the Treasury Bureau and Invest Hong Kong, the organizers of the Hong Kong Fintech Week, but there has been no substantive response as of the time of writing.
The Hong Kong Fintech Week was held at the end of October. Afterwards, the "Lehman incident" broke out in the currency circle. FTX filed for bankruptcy and AAX went bankrupt, which surprised many people.
Police arrest two men for fraud after AAX collapse
Among them, AAX suspended user withdrawals in mid-November, and pointed out that the service suspension was mainly due to system updates, and it would take up to 10 days. However, more than a month later, there are still users who cannot withdraw coins.
There are already thousands of people in the online suffering group. Some people claim to have lost more than one million yuan, and the total amount involved is estimated to be more than 100 million yuan.
At the beginning of December, a local AAX user wrote to the Chief Executive and called the police, claiming that the incident involved fraud. The Chief Executive’s Office confirmed to "Hong Kong 01" that the letter had been received and conveyed it to the Financial Services and the Treasury Bureau (Finance and Treasury Bureau) for follow-up.
The Bureau of Finance and Treasury later pointed out that AAX is not a virtual asset exchange licensed by the Securities Regulatory Commission, and the Securities Regulatory Commission may not have regulatory power over them.
Senior Inspector Wong Chung Lai (left) of the Commercial Crime Bureau, Superintendent Hung Hing-fun (middle) and Acting Chief Inspector Li Weizhong (right) explained the details of the AAX case.
(Photo by Chen Haoran)
The latest development of the incident is that the Police Commercial Crime Bureau yesterday (23rd) arrested two men on suspicion of "fraud". One of them is a former employee and the other is a platform manager. The mastermind behind the scenes fled overseas with 230 million yuan.
"Hong Kong 01" quoted news that the two arrested men were the director, shareholder and CEO of Weigao Capital Liang Haoming, and the founder and former CEO of AAX (Thor Chan).
AAX and FTX personnel attended the Hong Kong Fintech Week record "disappeared"
The sudden accidents of FTX and AAX are believed to be unexpected even by people in the currency circle. However, coincidentally, the records of senior executives of the two virtual currency exchanges attending this year’s Hong Kong Fintech Week as speakers have also been “disappeared”.
The Hong Kong FinTech Week, organized by the Treasury Bureau and Invest Hong Kong at the end of October this year, is one of the most important events in the financial industry in Hong Kong. It has received more than 250 speakers, more than 400 sponsors and exhibitors, and more than 30 international trade delegations. and representatives involved.
Among them, Ben Caselin, former vice president of AAX, and Adam Jin, partner of FTX Ventures, a fund under FTX, also attended the same speech. The theme of the session was "The Role of Crypto in a Fiat World".
However, after the FTX and AAX platforms "exploded", the reporter recently discovered that on the official website of Hong Kong Fintech Week, the relevant information of the two high-level speakers as guest speakers has disappeared.
Ben Caselin, former vice president of AAX, attended Hong Kong Fintech Week on behalf of AAX and participated in the speech.
(Screenshot from the official website of Hong Kong Financial Technology Week)
On the official website of Hong Kong Fintech Week, the relevant information about former AAX executives as speakers has been deleted.
(Screenshot from the official website of Hong Kong Financial Technology Week)
Information about the former AAX executive and FTX Ventures partner as a guest speaker has been removed.
(Screenshot from the official website of Hong Kong Financial Technology Week)
Information about the former AAX executive and FTX Ventures partner as a guest speaker has been removed.
(Screenshot from the official website of Hong Kong Financial Technology Week)
AAX users question the organizer's lack of credibility
It has been about two weeks since the Chief Executive's Office received the letter. The police have arrested two people involved in the case yesterday (23rd) and acted quickly.
However, some AAX users were dissatisfied that the organizer removed AAX and FTX related materials from the official website.
In this regard, some AAX users told reporters that it is extremely irresponsible for the organizer to delete the evidence that AAX was invited to attend the event, describing the organizer as "there is no bank here", and bluntly said: "If it is really as the official organization said Why would they revise history and deny the fact that AAX was invited? In any case, it is a loss of credibility for an official organization to "deny" what it has done in public."
"Hong Kong 01" has inquired about the above-mentioned incidents from the Finance Bureau and Invest Hong Kong, the organizers of the Hong Kong Fintech Week.
Cryptocurrency trading platform AAX collapsed last month 2 men arrested for fraud and misleading police officers The content of the letter to the chief executive exposed the collapse of the virtual currency trading platform AAX
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