According to a May 1 research report, from blockchain marketing agency Guerilla Buzz — whose clients include the likes of Coingecko and crypto exchange AAX — a staggering 35.8% of the top 1,000 cryptocurrency projects have failed to update their websites with any new written content this year.

The former CEO of AAX, Weigao Capital Liang Haoming, and the founder of AAX, Thor Chan, were arrested on Dec. 23. Local authorities accused the company's head of declaring "system maintenance" as an excuse to delay customers from withdrawing assets amid liquidity issues.

Hong Kong’s commercial crime investigation bureau on Friday arrested two local men for suspected involvement in digital asset fraud on Atom Asset Exchange (AAX), according to a police press conference.

Nigeria users of the crypto exchange AAX, which suspended withdrawals on Nov. 12, reportedly stormed its offices in Lagos and began assaulting employees. Reports that disgruntled AAX users have harassed the crypto exchange’s workers came just days after the Nigerian crypto and blockchain advocacy group asked to refrain from doing so. Meanwhile, the former vice president of AAX claimed in a tweet that the “brand is no more and trust is broken.”

Hong Kong cryptocurrency exchange Atom Asset Exchange (AAX) has lost most of its staff to firings and resignations and is unlikely to resume operations after freezing assets on the platform on Nov. 13, former vice president and head of research Ben Caselin told Forkast News on Friday.

Hong Kong-based crypto exchange AAX is likely to end operations and restructure, its former vice president for global marketing and communications, Ben Caselin, told CoinDesk TV on Wednesday in his first interview since he announced his resignation on Monday. AAX is the latest in a series of liquidity crunches following Sam Bankman-Fried’s FTX exchange filing for bankruptcy on Nov. 11 and freezing accounts and funds for as many as a million users. Cryptocurrency exchange BlockFi declared bankruptcy on Tuesday. (forkast)

Troubled Hong Kong crypto exchange AAX is now more likely to be unwound than resuming normal operations, its former head of communications Ben Caselin told CoinDesk TV Wednesday in his first interview since resigning earlier this week.

Ben Caselin, vice president of AAX, the crypto exchange, said on social media that he had left AAX. He mentioned: "I did fight for the community, but none of our initiatives were accepted. There is nothing I can do … I still believe that things will be dealt with without malice, but the damage has been done. The brand no longer exists and the trust is broken. "

AAX will close out derivatives positions as it attempts to return to normal following a hack, the Hong Kong crypto exchange said in a statement posted Sunday.

AAX's reopening at the end of this week depends on a capital raise and it may have to resort to legal action if that fails, the Hong Kong exchange said Tuesday.