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AAX Crypto Exchange staff receives a beating in its Nigeria office

A cryptocurrency exchange platform office in Nigeria Atom Asset Exchange (AAX) experience the anger of crypto investors as some of its customers stormed the office and beat up the company's staff.

According to the report, Atom Asset Exchange whose headquarters is located in Hong Kong and also has an office in Nigeria and other countries suspended the crypto withdrawals.

On 12 November 2022, Atom Asset Exchange announced it would be suspending crypto withdrawals over massive withdrawals. Probably as a cause of FUD on the crypto exchanges globally after the collapse of the second largest exchange FTX. According to the AAX, the suspension of the withdrawal is to avoid fraud and exploitation.

"AAX will continue our best efforts to resume regular operations for all users within 7-10 days to ensure the utmost accuracy."

However, after two weeks of releasing the statement to the customers no withdrawal resumption, and Ben Caselin one of the company's senior executives has already resigned saying it is very unlikely for the exchange to reopen, in an interview with Coindesk.

Been Caselin said nothing was contrary to the hope given to customers at the time of its departure; the future looks grim.

AAX as a corporate member of The stakeholders in the Blockchain Technology Association of Nigeria (SIBAN), prompt the association to appeal against the assault of AXX staff by angry Nigerians.

In a statement signed by its President, Senator Ihenyen, the body called for patience:

"We appeal to and discourage any dissatisfied or angry user or investor from harassing or victimizing the AAX Country Manager (Nigeria), other local staff members, and AAX ambassadors nationwide.
These persons are also facing the same situation as disgruntled users and investors. At the time of writing this notice, we are aware that communication between these persons and AAX headquarters has been equally strained at the time. We, therefore appeal for understanding and patience from all Nigerian AAX users.

The senior executive for the exchange in Nigeria is nowhere to be found.

In preparation for a potential legal battle, users with funds stuck in AAX have set up information-sharing groups like "AAX Rights Protection Group" on Telegram, which has drawn over 2,000 members where the users are seeking information on their frozen assets and the whereabouts of the AAX team.

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