BlockBeats News, February 26: According to a report by Hong Kong 01, the cryptocurrency exchange platform “AAX” started to shut down citing “system maintenance” from mid-November 2022, with 2 million registered users on the platform unable to access their account balances, withdraw or transfer assets. As of July 19, 2024, the police received reports from 890 victims involving a total amount of 208 million yuan. Subsequently, the police arrested two male suspects, including Liang Haoming, Director, Shareholder, and CEO of Viga Capital; and Thor Chan, founder and former CEO of AAX; while the mastermind behind the scenes, Su Weiyi, fled with funds.
The police stated that as of today (February 26, 2026), officers from the Commercial Crime Bureau have taken statements from 191 victims, whose total losses amount to approximately 81 million Hong Kong dollars; meanwhile, the platform’s principals withdrew around 633 million Hong Kong dollars’ worth of cryptocurrency from the platform after it ceased operations.
A 39-year-old local man involved in the case, suspected of managing the related cryptocurrency exchange platform, left Hong Kong in November 2022 and was arrested upon entry into Hong Kong on July 18, 2024. After seeking legal advice, the man, now 39 years old at the time of arrest, has been charged with 3 counts of “theft” and one count of “fraud,” with the case brought to court this morning (26th) at the Eastern District Court.
