Release of Huang Tianwei
Huang Tianwei, the individual behind the now-defunct cryptocurrency exchange AEX (also known as AAX), was released on bail in Thailand as of 7 PM local time on July 3rd. The announcement was made by a user identified as X.
Background of AEX
This development follows a tumultuous period for the platform, which had been operational since 2013 and was a preferred choice for many longstanding members of the cryptocurrency community. The platform’s collapse in July 2022 resulted in a significant financial impact, with only three major users reportedly able to recover a fraction of their investments since the debacle.
Legal Troubles and Service Suspension
Huang’s legal troubles began on June 12, 2022, when law enforcement apprehended him at the Mae Sai District Police Station in Chiang Rai. Just days following the arrest, AEX announced it could no longer facilitate withdrawals, attributing the issue to short-term liquidity problems.
This led to a complete service suspension aimed at aiding the related police investigation, which was publicized on July 17, 2022.
Despite the ongoing inquiries and the massive sums of user funds still inaccessible, Huang has yet to provide users with the ability to withdraw their money, leaving many in the community in a state of uncertainty regarding the future of their investments.
