Hong Kong-based cryptocurrency exchange AAX has temporarily stopped its services, citing FTX events.
In the cryptocurrency market, the effects of the FTX collapse continue. In addition to the huge losses of investment asset management companies, the turmoil of cryptocurrency exchanges continues. While the question mark in the minds of investors was which stock market would be next, a new news came from Hong Kong. Cryptocurrency exchange AAX in the country has temporarily suspended its operations as it was affected by the FTX collapse.
Cryptocurrency Exchange is on the Barb
Cryptocurrencies have been going through some pretty bad days lately. The crash of the FTX exchange took a toll on the crypto industry. In particular, the stock markets began to share their reserves in order not to be affected by this chaos environment.
The AAX exchange has announced that it will suspend its services for about 10 days. The exchange attributed this decision to the failure of a third-party partner. However, there was no explanation from the exchange as to who this third party was.
The exchange said in a statement that it is suspending withdrawals to prevent fraud and abuse. In addition, the company underlined that it spends intensive hours to start its services again between 7 and 10 days.
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