AAX crypto exchange exit scam completed. Facebook, YouTube, LinkedIn deleted

22 points by senttoschool 3y ago ↗ HN

Original story of AAX halting withdrawals: https://finance.yahoo.com/news/aax-crypto-exchange-suspends-withdrawals-015041886.html

Facebook (deleted): https://www.facebook.com/AAXExchange

Youtube (deleted): https://www.youtube.com/c/AAXExchange

CEO Linkedin (company page deleted): https://www.linkedin.com/in/wenn-sheng-chioh-5a76b67

Twitter (silence): https://twitter.com/AAXExchange

CTO resigned: https://twitter.com/BenCaselin/status/1597117107560656897

3 comments

[ 10.4 ms ] story [ 1009 ms ] thread

senttoschool 3y ago ↗

Why is this an exit scam?

Because there's no bankruptcy filing, no address of their offices, no known whereabouts of its founders and executives, no way of knowing if they stole customer funds or simply gambled them away, and no one knows who has the legal jurisdiction to investigate them.

They're simply trying to disappear slowly.

[dead] cheri9 3y ago ↗

gt565k 3y ago ↗

People keeping coins in a centralized exchange…

When will they learn

Only reason to have coins in a cex is when converting to fiat, even then you might be better off using a dex and moving in and out of a USD stable coin for day trading and fiat conversion.