Cryptocurrency exchange AAX suspends all trading
Cryptocurrency exchange AAX has suspended all trading, citing a third-party partner outage.
Important Update: Forward Through Adversity | AAX Trends
On November 14, 2022, AAX announced a trading suspension. This was because AAX's third-party partner had a problem and it was found that some users' balance data was not properly recorded in the system. It seems that the service is temporarily suspended to prevent further risks, and the technical team is configuring and restoring the data.
AAX's third party said, 'We will implement system updates in the future to protect users. We will continue our best efforts to return user funds as accurately as possible and resume normal operations within 7 to 10 days. I will.”
In addition, he said that user funds are not directly threatened, and AAX's efforts are primarily aimed at ensuring that users can recover their funds.
* User funds are not under direct threat. All energy is now spent on getting AAX to a position where we will be able to firstly ensure users can retrieve their funds and secondly to do so in an orderly manner with services resuming.
—AAX (@AAXExchange) November 14, 2022
In addition, we have created a user withdrawal request form, and we are accepting withdrawals, withdrawals, and other procedures. However, it seems that it is expected that withdrawals will take longer than usual because employees will manually solve requests from here one by one.
On November 11, 2022, industry giant FTX just filed for bankruptcy , and comments questioning the rationality of virtual currencies can be seen on the social site Hacker News. AAX said, “We believe cryptocurrency users are rightfully concerned about the operations and financial stability of centralized digital asset exchanges following the insolvency of one of the industry’s largest companies. We will always put our users first and hope that, as a community, we can get through this difficult time together.'
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