Media: disgruntled AAX customers beat exchange staff in Nigeria
Clients of the AAX cryptocurrency exchange, which suspended withdrawals, stormed the company’s office in Lagos, Nigeria, demanding the return of their money and beating staff on site. Legit reports.
In defence of the local staff of the Hong Kong-based platform, the Nigeria Blockchain Technologies Association (SIBAN) spoke out. The group urged dissatisfied users and investors to exercise patience. According to the statement, the workers “face the same situation,” and the relationship between them and the exchange’s headquarters remains strained.
“Therefore we urge all Nigerian AAX users to understand and be patient,” the letter says.
The platform registered in April as a corporate member of SIBAN under the name AAX Atom Asset Exchange, with a registered address on the Seychelles Islands.
On 12 November the exchange suspended withdrawals, citing planned maintenance. AAX assured that the restriction on operations was not related to the FTX collapse.
On 19 November the company said it would continue upgrading the platform, and admitted that it was seeking additional financing to “resume normal operations.” Media reports mentioned a possible closure of the exchange. Concerns intensified after the departure of AAX’s vice president Ben Kaselina. According to his comments, “the brand is no longer there and damage has been done”.
According to the Financial Times, anxious clients and investors have been unable to locate AAX’s top executives as they seek to recover funds. Staff told the publication that after the restrictions on operations they were denied access to the company’s email system.
“As a result, for many users and members of the public, the prolonged AAX system update, up to the time of this statement, has generated far more concerns than answers,” noted SIBAN.
As reported, Binance CEO Changpeng Zhao suggested that the FTX crisis will trigger a cascading effect in the crypto industry.
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