According to reports from local sources, Hong Kong authorities detained two individuals on December 23 for their alleged involvement in the AAX probe.
The suspects were reportedly taken into custody on suspicion that they deceived law enforcement agents and committed fraud, which led to their detention.
AAX bankruptcy
On November 28, many weeks after the collapse of FTX, Ben Caselin, Vice President of the AAX exchange, stated that he would be resigning from his position. Caselin said that he left the firm because he was unhappy with the choices that had just been made.
Reportedly, Caselin was not in agreement with the choice made by AAX to file for bankruptcy and sell off all of its assets. However, a warning was issued in conjunction with the decision that was made by the corporation. The warning said that staff would only be able to get their pay for the month of November and that consumers would only be able to reclaim half of their assets.
According to reports from regional news outlets, AAX consumers have collectively sustained losses of more than 100 million yuan, which is around $14.3 million.
The aftereffects of the FTX crisis on individual investors
A recent analysis that investigated the effects of the important events that took place in 2022 indicated that FTX had the most significant influence on all of those who failed financially or collapsed.
In its analysis, the paper took into account the demise of Terra-Luna as well as the failures of Voyager, BlockFi, Celsius, Mt.Gox, and FTX.
Quantity of crypto investors that have been adversely affected
According to the figures, the impact from FTX affected more than one million investors, which is a much bigger amount than the 600,000 and 572,000 investors, respectively, who were affected by the bankruptcy of Celsius and BlockFi.
