Nigerian users of the AAX cryptocurrency exchange, which suspended withdrawals on November 12, stormed its offices in Lagos and began assaulting employees. Reports that disgruntled AAX users have harassed workers at the crypto exchange came just days after the Nigerian cryptocurrency and blockchain advocacy group called to refrain from doing so. Meanwhile, the former vice president of AAX assured in a tweet that the “brand no longer exists and trust is broken.”
Disgruntled Nigerian AAX users told to dispense with local employees
According to a local report, a group of disgruntled Nigerian users of the Atom Asset Exchange (AAX) recently broke into the exchange’s offices in Lagos and assaulted the employees. The angry mob reportedly demanded the lifting of the withdrawal freeze, which went into effect on November 12.
While on December 2 report by Legit does not indicate when the incident occurred, however, it corroborates an earlier request made by the advocacy group Stakeholders in Blockchain Technology Association of Nigeria (SIBAN). In its public notice on November 28, SIBAN urged AAX users to stop victimizing the beleaguered workers of the crypto exchange.
We call on and discourage any dissatisfied or angry user or investor from harassing or victimizing AAX Country Manager (Nigeria), other local staff and AAX ambassadors across the country. These people also face the same situation as disgruntled users and investors.
The advocacy group also revealed that senior executives of the Hong Kong-based crypto exchange had stopped communicating with its Nigerian-based workers.
AAX users have not been updated
Meanwhile, in a message to AAX and its founders, the advocacy group reminded the cryptocurrency exchange of its obligations to users. In addition, the notice suggested some steps that AAX and Nigerian workers should take to restore public confidence.
“If user protection is AAX’s top priority, as it boasts in its public announcement, AAX should immediately take steps to close the gaps by bridging communication between itself and its local staff in Nigeria, on the one hand , and between AAX and its Nigerian users, on the other. another side”, said the public notice of the SIBAN.
in his last to update (November 18), AAX told users that there were “a lot of new developments,” which meant it required “more time to answer the overwhelming number of questions in the community.” At the time, AAX said that it would issue further updates through the official channel for public announcements and updates. However, the crypto exchange had not issued any new updates at the time of writing (Dec 3, 11:00 am EST).
Dear all, it is true that I have given up on AAX. I fought for the community, but none of the initiatives we came up with were accepted. Whatever paper he had left for communication was left empty.
— ₿in Caselin HODL (@BenCaselin) November 28, 2022
The sudden resignation of the crypto platform’s vice president, Ben Caselin, and his claims that “the brand is gone and trust is broken” have fueled speculation that the crypto exchange might not resume operations any time soon.
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