Nigerian users of AAX cryptocurrency exchange, which stopped withdrawals on November 12, are said to have stormed the company’s Lagos offices and beat up employees.

There were reports that angry AAX users were beating up works of the default AAX crypto exchange just a few days after a Nigerian group that supports crypto and blockchain asked them to stop. In a tweet, AAX’s former vice president said that the company’s “brand is gone and trust is broken.”

A group of angry Nigerian users of Atom Asset Exchange (AAX) recently broke into the office of the cryptocurrency exchange in Lagos and beat up employees. The angry crowd reportedly demanded that the withdrawal freeze, which started on November 12, be lifted.

In a public notice from November 28, SIBAN asked AAX users to stop making the exchange’s workers suffer.

We ask any unhappy or angry user or investor not to harass or take advantage of the AAX Country Manager (Nigeria), other local staff members, or AAX ambassadors anywhere in the world. These people are in the same situation as users and investors who are unhappy.

The advocacy group also said that the top executives of the Hong Kong-based cryptocurrency exchange had stopped talking to their employees in Nigeria.


In the meantime, the advocacy group sent a message to AAX and its founders to remind the cryptocurrency exchange of its responsibilities to its users. The notice also told AAX and Nigerian employees what they should do to win back the public’s trust.

SIBAN’s public notice said, “If protecting users is AAX’s top priority, as it says in its public announcement, then it should take steps right away to close the communication gaps between itself and its local staff in Nigeria, on the one hand, and between itself and its Nigerian users, on the other.”

In its last update on November 18, AAX told users that there had been “many new developments” and that the company needed “more time to answer the huge number of questions from the community.” At the time, AAX said it would send out more updates through the official public announcement and update channel. At the time of writing, however, the cryptocurrency exchange hadn’t made any new announcements

Ben Caselin, the vice president of the cryptocurrency platform, quit all of a sudden and said that the “brand is no more and trust is broken.” This has led to rumors that the cryptocurrency exchange might not start up again anytime soon.

We believe that if a crypto exchange halt withdrawal and failed to inform users and investors about the issue in the next 5 hours, it is either the exchange is bankrupt or has stolen users funds

https://altcoin.ng/angry-users-of-aax-crypto-exchange-in-nigeria-storm-lagos-offices-and-attack-employees/