Atom Asset Exchange
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

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. 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

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

  1. 1 2 3 "Crypto exchange AAX's freeze on withdrawals sparks desperate search for funds". Financial Times. 2022-12-02. Retrieved 2022-12-22.
  2. ↑ "HK's Atom first to use LSE trading tech for crypto exchange". China Daily HK. Retrieved 2019-07-08.
  3. ↑ Huang, Zheping (2019-11-06). "Atom's LSE powered crypto exchange promises to be really fast". Bloomberg. Retrieved 2019-12-03.
  4. ↑ "Hong Kong cryptocurrency exchange AAX in limbo amid FTX crisis". AsiaOne Online. 2022-11-29. Retrieved 2022-12-22.
  5. ↑ Ma, Dorothy; Wong, Kiuyan (2022-12-24). "HK Police Arrest Two Men in Crypto Exchange AAX-Related Case". Bloomberg. 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. Retrieved 2023-01-01.
  7. ↑ "Hong Kong's Atom is first to use LSE tech for crypto exchange". The Business Times. 2019-01-23. Retrieved 2019-07-08.
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