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.
The name rings a bell. I think I have seen their name pop up in the scam accusations before
They have an ANN which is from Feb 2018 -
[ANN] Beaxy - The All-in-One Cryptocurrency Exchange and the domain was registered around 2017-08-24, so it's likely they started operating around that time
Quite an amateur move to operate a crypto exchange in the US without getting it registered with SEC. It's like he wasn't seeing how the likes of Kucoin, Binance were playing hide and seek with the regulators.
It indeed rings a bell. This exchange was promoted here through a
signature campaign. I even thought this was a promising exchange back then. This exchange was strongly promoted outside of this forum as well. If I'm not mistaken, they even imitated the early strategy of Binance by giving away a Lamborghini. I cannot remember exactly how things have turned awry but it was indeed accused of being a scam.
It's surprising they didn't do something with their lack of registration despite them certainly noticing how regulators are tightening their policies on crypto exchanges. It seems they're just sitting by waiting for their time.