According to Odaily Planet Daily, the virtual currency trading platform AAX has stopped operating since November 2022 due to system maintenance, and more than 300 customers have failed to retrieve nearly HK$100 million in assets. Hong Kong law enforcement agencies found that someone had caused the platform to stop operating through false information and illegal means, and the main culprit absconded with the virtual currency wallet and private key.

After further investigation, the law enforcement department has identified a 39-year-old local man who is suspected of managing the relevant platform. The man left Hong Kong in November 2022 and was arrested when he entered Hong Kong yesterday. He was temporarily charged with one crime of "theft". The case will be heard in the Eastern Magistrates' Court tomorrow. As of July 19, the law enforcement department has received reports from 890 victims, involving a total amount of HK$208 million.