Embattled AEX exchange provides new fund retrieval solution for customers

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Embattled AEX exchange provides new fund retrieval solution for customers

By Charles Thuo - min read
  • The fund retrieval solution will allow customers to retrieve funds trapped on the platform.
  • The solution will be executed by a third-party law firm together with a third-party management company.
  • Customers will have the liberty to choose between the existing solution and the new solution.

AEX crypto exchange has unveiled a new fund retrieval solution for customers. Customers will now be able to choose between the new solution and the previous “soft payment” strategy proposed in December 2022 in retrieving funds trapped on its platform.

After launching the new solution the exchange claimed that the essence of the new solution is to increase the customers’ choices to speed up the fund retrieval process.

AEX crypto exchange is suffering from the ripple effect of the collapsed Three Arrows Capital (3AC) in addition in addition to the complexities of being forced to relocate from China after the country clamped down on crypto activities.

What the new solution entails

The new solution will have three specific measures to simplify the fund retrieval process. The exchange believes that adopting these measures will better protect the rights and interests of its customers.

Some of the other measures that have been taken by AEX include transferring part of the project’s rights to the client at a lower discount through a third-party law firm with the help of a third-party management company.

Customers using the new solution will be required to fill in their real names and sign the equity purchase contract provided by the exchange. They shall also be required to fill in a “Qualified Investor Questionnaire” and then send a certain amount of Acala Dollar (AUSD) to a black hole address for destruction based on newly designed rules.