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Atom Asset Exchange

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Atom Asset Exchange
Company typeDigital Asset Exchange
IndustryFintech
Founded2018
Defunct2022
FateBankruptcy
ServicesP2P, Spot, Perpetual Contracts
WebsiteArchived

Atom Asset Exchange (AAX) is a defunct cryptocurrency exchange that offered spot, perpetual contracts and savings products across a wide variety of digital assets, including Bitcoin, Ethereum and others.

History

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AAX was formed in 2018, in Seychelles,[1] operating primarily in Hong Kong. CEO Thor Chan has resigned since May, 2021.[2][3]

Two days after crypto exchange FTX filed for bankruptcy, AAX suspended all withdrawals on 13 November 2022,[1] and deleted its social media accounts.[4] On December 16, its website and App ceased to function.[citation needed] Using the Telegram app, thousands of AAX investors formed multiple online messaging groups, joining their efforts to locate the senior executives of the company.[1] On December 23, 2022, two men were detained by police in Hong Kong.[5][6]

Products

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AAX offered crypto futures contracts, spot pairs, P2P fiat trading, savings products, and API connectivity. AAX supports bitcoin trading along with support for over 20 fiat currencies.[7]

References

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  1. ^ a b c "Crypto exchange AAX's freeze on withdrawals sparks desperate search for funds". Financial Times. 2022-12-02. Archived from the original on 2022-12-22. Retrieved 2022-12-22.
  2. ^ "HK's Atom first to use LSE trading tech for crypto exchange". China Daily HK. Archived from the original on 2019-07-08. Retrieved 2019-07-08.
  3. ^ Huang, Zheping (2019-11-06). "Atom's LSE powered crypto exchange promises to be really fast". Bloomberg. Archived from the original on 2019-12-03. Retrieved 2019-12-03.
  4. ^ "Hong Kong cryptocurrency exchange AAX in limbo amid FTX crisis". AsiaOne Online. 2022-11-29. Archived from the original on 2022-12-22. Retrieved 2022-12-22.
  5. ^ Ma, Dorothy; Wong, Kiuyan (2022-12-24). "HK Police Arrest Two Men in Crypto Exchange AAX-Related Case". Bloomberg. Archived from the original on 2022-12-24. Retrieved 2023-01-01.
  6. ^ Aoqi, Chen (2022-12-23). 虛擬貨幣交易平台AAX倒閉 警拘兩男涉欺詐 主腦捲2.3億潛逃海外 [Virtual currency trading platform AAX collapsed and police detained two men involved in fraud. The mastermind fled overseas with HK$ 230 million.]. HK01 (in Chinese). Hong Kong. Archived from the original on 2023-01-02. Retrieved 2023-01-01.
  7. ^ "Hong Kong's Atom is first to use LSE tech for crypto exchange". The Business Times. 2019-01-23. Archived from the original on 2019-09-18. Retrieved 2019-07-08.
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