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.
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