Native sources reported that two males who had been concerned with the AAX investigation had been arrested in Hong Kong on Dec. 23.

In line with native regulation enforcement, the people had been arrested for suspicions of fraud and deceptive law enforcement officials.

AAX chapter

Weeks after the FTX collapse, on Nov. 28, AAX trade’s Vice President Ben Caselin introduced his resignation. Caselin stated he resigned as a result of he disagreed with the current firm selections.

Reportedly, Caselin disagreed with AAX’s determination to declare chapter and liquidate all property. Nevertheless, a warning accompanied the corporate’s determination, stating that the workers may solely obtain their salaries for November, and customers may solely retrieve half of their property.

Native information sources indicated that AAX customers have misplaced over 100 million yuan in complete, which equates to $14.3 million.

FTX fallout’s influence on particular person buyers

A current report that examined the influence of the numerous occasions in 2022 revealed that FTX had essentially the most appreciable impact on all who went bankrupt or collapsed.

The report thought of Terra-Luna’s collapse and the bankruptcies of Voyager, BlockFi, Celsius, Mt.Gox, and FTX.

The variety of crypto buyers impacted

In line with the numbers, the FTX fallout affected over 1 million buyers, which is significantly increased than the 600,000 and 572,000 buyers affected by Celsius and BlockFi bankruptcies, respectively.

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