As the title says, another exchange has been closed and this time its Beaxy. I can't say I heard about them before but allegedly they have been around since 2017 and are (were) based in the Unites States. If anyone has any money there, you have 30 days to withdraw it says SEC.
Crypto trading platform Beaxy has officially closed its doors as the U.S. Securities and Exchange Commission charged the company and its founder, Artak Hamazaspyan. with operating an unregistered exchange and brokerage, the agency said Wednesday in a statement.
The SEC also accused Beaxy Digital Ltd. of illegally raising $8 million in the offering of an unregistered security with its BXY token. The agency additionally noted Hamazaspyan “misappropriated at least $900,000 for personal use, including gambling.”
Windy Inc. took over the platform in 2019 after the founder misappropriated money, according to the SEC, and managers Nicholas Murphy and Randolph Bay Abbott maintained Beaxy for trading crypto assets “that were offered and sold as securities,” the SEC said. So the agency is also accusing them of violating securities law by operating an unregistered exchange, broker and clearing agency, though the platform was described as defunct in another SEC case last year.