Crypto exchange AAX has reiterated its temporary halt to services is the result of a system upgrade glitch, rather than anything to do with FTX contagion.
Hong Kong-based crypto exchange AAX has reiterated that its suspension of withdrawals on the platform has nothing to do with the ongoingThe crypto community reported seeing a “System upgrade notification” message on Nov. 13, which said that a system upgrade “is taking longer than usual” which will delay withdrawals. Some shared concerns about whether the exchange was the next domino to fall after FTX and BlockFi.
“In light of the insolvency of one of our industry’s largest players last week, crypto users are rightfully concerned about the operational and financial stability of centralized digital asset exchanges.”November 13, 2022 As a result, it has limited its services to prevent further risks, including a seven to ten-day suspension of withdrawals “to avoid fraud and exploitation.”
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