Crypto exchange AAX has released an update on its situation. The article states that the team is currently facing a series of unprecedented developments that have resulted in a severe strain on AAX's capital position. Over the past week, its existing shareholders have contributed additional capital and have already received interest on the new investment.
If the team is able to inject additional capital by the end of the week, AAX should be able to resume normal service. This will be announced along with a follow-up plan to restore its momentum. Conversely, if funding is not available, the team is committed to initiating legal proceedings to secure the distribution of assets and ongoing communication with its global user base and relevant stakeholders on the details.
Previously, AAX has halted trading and withdrawal operations to avoid fraud and attacks.
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