- The ex-Vice President of AAX said ‘The brand is no more.’
- As BlockFi, Celsius, and the most recent FTX, are down, AAX reportedly follows the same path.
The Atom Asset Exchange or AAX is a Hong-Kong based crypto exchange. The exchange is likely to end its operations and restructure, according to its Ex-Vice President for Global Marketing and Communications, Ben Caselin.
On November 30, 2022, Mr. Caselin gave his first interview after announcing his resignation from the exchange on November 28, 2022.
AAX’s Former Vice President Seemed ‘Helpless’
On November 28, 2022, he wrote on his official Twitter and gave the confirmation about his resignation. In a long-tailed twitter thread, he stated “I did fight for the community but none of the initiatives we came up with were accepted. Any role I had left for communication became hollow.”
He also added, “People, including my own family, ask me for help, but there is nothing I can do. Everyone is waiting on actions. I still believe things will be handled without evil intentions, but the damage is done. The brand is no more and trust is broken.”
He ended the twitter thread as “During these years, AAX stood for something, but all that is now hollow. I have disabled a lot of my social media because too many people believe I can solve the issue, but I cannot. This is for the founders and board.”
“I will continue to follow. And continue to hope,” he noted.
In follow up, Mr. Caselin wrote in his twitter that “For clarity, and all this can be verified, the majority of staff had no access to private keys, including me, and no insight into finances either.”
Over a question, why he is not filing for a report with Hong-Kong Police, he wrote ” First off, AAX is a Seychelles-based exchange despite AAX’s roots in HK, so it’s useless. Second, I’m still expecting a proper handling of AAX’s unfolding despite the mess and lack of comms.”
AAX has deleted its official YouTube channel along with Facebook accounts. The exchange froze its services on November 13, 2022, and called a malicious attack that left it unable to verify customer balances and allow withdrawals. The exchange also added that resuming withdrawals would put the exchange at risk of capital deficit.
Just before the operation was halted – the exchange said the appointment “reinforced AAX’s commitment to driving the mass adoption of Bitcoin and digital assets through educational content, community-building, and empowerment programs, especially in developing countries”.
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