Key Points:

  • AAX and FTX personnel profiles at the big event in Hong Kong suddenly disappeared after the crash of FTX.

  • The FTX incident came, leading to the collapse of the AAX exchange and the conspiracy to hold money of fleeing users.

  • Currently, the fraud of the AAX cryptocurrency exchange is starting the investigation process with a lot of evidence has been collected.

Coincidentally, the AAX and FTX personnel profiles attending this year’s Hong Kong Fintech Week as speakers have also strangely “disappeared“. The information is also no longer on the relevant official website.

The sudden crash of FTX is said to be beyond the predictions of even those in the currency world. However, it has led to the collapse of a series of crypto companies. And the shocking collapse in Hong Kong is a scam to appropriate users’ assets at the AAX exchange that is receiving the attention of the community.

Hong Kong Fintech Week organized by the Hong Kong Finance and Investment Department at the end of October this year is one of the most important events of the Hong Kong financial industry, attracted more than 250 speakers, more than 400 sponsors and exhibitors, with more than 30 international trade delegations and representatives.

Among them, Ben Caselin, former vice president of AAX, and Adam Jin, partner of FTX Ventures, a fund affiliated to FTX, also attended the same speech with the theme of the session being “The Role of Cryptocurrency death in the world of Fiat”.

On the official website of Hong Kong Fintech Week, relevant information about the former AAX executive as a speaker has “disappeared”.

However, after the FTX and AAX platforms “exploded”, the reporter recently discovered that on the official website of Hong Kong Fintech Week, the related information of two senior speakers as The guest speaker has disappeared.

The latest development of the case is that the police’s Commercial Crime Investigation Department arrested two men on December 23 with suspicion of “fraud”, one is a former employee and the other is a platform manager. They are on their way to flee abroad with virtual assets in cold wallets worth 230 million yuan (about $30 million).

Hong Kong media cites news that the two men arrested are director, shareholder and CEO of Weigao Capital Liang Haoming, and founder and former CEO of AAX (Thor Chan).

As was updated in an earlier Coincu News article, two subjects were arrested for investigation. During the arrest, the police froze two personal accounts, with assets worth about 2 million yuan, and seized two properties on Hong Kong Island and Kowloon, with a total value of about 55 million yuan. Two properties belonged to the fugitive mastermind and one of those arrested.

Senior Inspector Huang Zhongli added that the current $30 million worth of assets in the virtual wallet have not been embezzled, there is no trace of loss and they are temporarily safe.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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