March 28, 2023 |James Messi
Dear valued customers,
Regrettably, we are announcing the immediate suspension of services on Beaxy Exchange. Due to the uncertain regulatory environment surrounding our business, we have made the difficult decision to cease operations.
If you have any assets on the exchange, they are secure and will be made available for withdrawal within 24 hours after all user orders are canceled and balances verified.. Trading on the platform has been halted effective immediately to simplify the withdrawal and reconciliation process. We strongly advise you to withdraw any remaining assets within 30 days to avoid unnecessary complications and delays.
We want to express our deepest gratitude to all our customers who trusted us over the years. It has been a privilege to serve thousands of KYC’d customers globally. We are proud to have brought a new exchange technology platform to full operational capability in under six months under adverse conditions. Notably, our platform was one of the first in the industry to field AI-based trade prediction for retail users and a unique swipe-to-trade mobile application.
We forthrightly committed to cooperation with the Securities and Exchange Commission (SEC) for over two years, continually providing information, data, and interviews to assist regulators in whatever manner we could. Unfortunately, despite our best efforts, it has become clear that the regulatory environment is just too uncertain to continue operations.
You can read the final judgment of the SEC complaint here.
We remain committed to ensuring a smooth and efficient withdrawal process once we have completed final reconciliation and reopened withdrawals on Tuesday, 28 March 2023, for all our customers. Our support team will be available to assist you throughout the withdrawal process. If you have any questions or concerns, please do not hesitate to contact us at [email protected]
Thank you for your understanding, and we apologize for any inconvenience this may cause.
The Beaxy Exchange Team