Clients of Nigeria-based crypto exchange AAX reportedly They stormed the company’s offices in Lagos. and physically assaulting employees of the company from the recent suspension of withdrawals according toreportFrom local media on December 3
Although it is unclear when the attack occurred. But stakeholders of the Blockchain Technology Association of Nigeria (SiBAN) confirmed the news in a Nov. 28 announcement, asking angry users to exercise patience with the exchange’s employees as they were affected. from the problem as well
“We request that users or investors who are dissatisfied or angry at being victimized by AAX Country Manager (Nigeria) do not engage with local employees and representatives of AAX across the country as these individuals face the same situation as users and investors. dissatisfied investment We know that communications between these individuals and AAX headquarters are equally stressful at this time, so we request the understanding and patience of all Nigerian AAX users.”
AAX’s drama culminated on November 14, when the exchange halted withdrawals citing a system upgrade glitch. of FTX and denies any financial relationship.
After the announcement, the AAX team wasannouncedon November 15 that it will proceed to raise additional funds As investors withdrew their funds amid widespread concerns following FTX’s bankruptcy, SiBAN commented on the situation saying:
“Considering that AAX’s system upgrade occurred at the time of the FTX crash, it impacted the entire crypto industry. The timing of AAX’s system upgrade is highly questionable. Thus, for many AAX users, the protracted AAX system upgrade until now has raised more questions than answers, and AAX has either neglected or failed to maintain them. Trust and Confidence of Users”
On November 28, Ben Caselin, AAX’s vice president of global marketing and communications, resigned. This gave rise to speculation that a reversal of operations might not be possible. And according to Caselin, despite his efforts to fight for the community, “the initiative we came up with was not accepted, and anything we left behind for communication became nonsense.”
Former AAX executives also disagreed with how AAX handled the issue, with Caselin describing the action as “Without empathy”
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