China Times (www.chinatimes.net.cn) reporter Wang Yongfei Ran Xuedong Beijing report
The wave of serial liquidation of the crypto industry triggered by the rupture of the South Korean LUNA project in mid-May is still continuing.
html On the morning of July 17, the AEX (Anyin) Exchange, a veteran trading platform in the crypto industry, issued an announcement stating that according to the requirements of the Guangxi police, the platform-related services will be suspended at 15:32 (UTC+8) on July 17, 2022, and will do its best to Cooperate with the police investigation.As early as June 16 this year, the AEX Exchange announced the suspension of withdrawals of cryptocurrency exchanges. On July 14, AEX once again stated in its telegram group that because the platform's short-term liquidity problem has not been completely resolved yet, AEX is unable to repay everyone's withdrawal needs in the short term, so the platform has turned off the withdrawal function.
Many AEX users told reporters: "This news is too sudden. Recently, I still hope to re-open the withdrawal of coins. There are still many assets on the AEX exchange, which is a big blow."
html Since mid-May, South Korea's Luna has been a South Korean company since mid-May The sequelae of the project's death spiral is still continuing.was investigated by the police
Since June, the industry has questioned AEX running away, and at this point, the dust has fallen.
In fact, as early as June, AEX became the first trading platform to announce the suspension of withdrawals since the cryptocurrency plummeted. AEX, which was in a liquidity crisis due to the South Korean LUNA project, was already unsustainable at that time. In an announcement released in June,
AEX pointed out that due to the LUNA burst, AEX has a total market value of 450 million U (about 3 billion yuan), which has quickly consumed short-term liquid assets and some medium-term assets. AEX said it is currently facing a run of over US$1 billion.
Regarding the occurrence of liquidity crisis, AEX introduced that the USDT/USDC stored on Curve on mining was replaced by UST after the UST collapsed, causing a certain short-term liquidity asset loss; at the same time, some third-party quantification Institutions have experienced a certain amount of net value drawdown under extreme market conditions, and the repayment speed of pledge lending business customers was delayed; institutions such as LUNACEL and 3AC have collapsed continuously, causing market panic and a large number of users left the market. In addition, on June 14, the multi-signature server temporarily failed, causing delays in withdrawal.
Recently, in the telegram group, AEX customer service said: "About a month ago, we suffered a serious liquidity crisis. The team solved the problem day and night. Under the leadership of Mr. Huang, the platform has completed withdrawals of RMB 100 million in total. USDT. Mr. Huang has been solving problems on the front line, just to fulfill his promise to not run away and ensure all users' funds. "
" This crisis is that short-term liquidity funds are not sufficient to fully repay, and there is no problem with our long-term funds. , enough to easily cover all user assets. We will not run away, and the platform will operate existing businesses normally and will not stop all external services." AEX customer service promised.
AEX also stated in the telegram: "Lao Huang's body has some problems, and the platform has indeed encountered unprecedented difficulties. We are really trying to find a way, please give us some time."
According to AEX's official website, AEX It was established in 2013 and has been established for 9 years. Its business covers many fields such as fiat currency , spot, contracts, financial management, lending, mining, etc., and has a multi-country trading license. The cumulative financial investment amount exceeds 400 million, and the registered users are close to 3 million.
As the longest established "waist" exchange in the field of crypto in mainland China, its founder is Huang Tianwei, and its original name is " bit era ". The exchange is registered in the UK.
It is reported that the founder Huang Tianwei has been missing for several days. AEX customer service said in the telegram group: "Please believe Mr. Huang. He should have an accident, so he cannot contact him for the time being. But everyone has accompanied him all the way. Everyone can feel his intention to solve problems. "
Judging from Huang Tianwei's work experience, he has served as chairman of Hongwei Holdings Group, product manager and project manager of Tencent , vice president of Fantesi basketball manager, and chief strategy of financial box Official; participate in investing in dozens of companies including Tianjin Co., Ltd., Bitmain, Yixiang Network, Maoming Rural Commercial Bank, Hurricane Technology, Golden Finance and other companies. Founded in May 2013, Bit Age is an early preacher in the crypto industry and has a high reputation in the industry.
Even though AEX issued an announcement today, suspended services and was being investigated by Guangxi police, the reporter learned that many users still said: "I believe Lao Huang can solve the redemption problem for us."
Luna burst sequelae
AEX is not the only mobile in the crypto industry. Sexual crisis enterprises. Since mid-May, the sequelae of the crypto industry brought by Luna's death spiral has continued.
The domestic medium-sized crypto trading platform "HOO" (Hufu) Exchange, also said that it is unable to withdraw cash and is suspected of running away. An industry insider told our reporter that the specific reason is that Hufu Exchange places a large number of user assets privately on the AEX Exchange to manage financial management. In addition, there have been rumors on the Matcha Exchange that cannot withdraw coins recently.
According to a former staff member of the Hufu Exchange, "In late June, my coins were no longer available, and I could not contact the former Hufu leader at all."
html On June 19, Hufu issued an announcement stating that recently, due to the fact that the Hufu was not in contact with the leader. The market fluctuations are large, and some large institutions in the industry have successively experienced problems such as liquidation and liquidity exhaustion, which aggravates users' panic. The withdrawal review time may be delayed by 24-72 hours, and it will gradually return to normal levels after 72 hours. On June 23, Hufu Exchange issued an announcement stating that it has officially started the withdrawal review of some currencies, and users who initiated the withdrawal will receive the withdrawal currency after the review is started.In addition, the collapse of UST and LUNA has triggered liquidity crises among institutions such as Sanjian Capital and BlockFi, and the liquidation risks caused have caused the crypto industry to fall into the leverage model.
Recently, Celsius, one of the world's largest cryptocurrency lending platforms, has been in a bankruptcy crisis. Celsius recently disclosed that its bankruptcy gap was as high as US$1.2 billion, its liabilities were US$5.5 billion, and its assets were only US$4.3 billion. And the debt of up to US$4.7 billion belongs to depositors.
3AC and Celsius have successively filed for bankruptcy protection, which has caused the chain reaction caused by the crisis in the crypto industry to be more widely affected. Since May, the crypto market has also continued to be sluggish and fluctuated. Bitcoin is currently hovering around $20,000, with a low of $17,588, Ethereum has fallen to around $1,300, and a low of $880, which is nearly a year. The lowest price in half.
