We want to provide our users, team, and partners with an update on the situation at AAX – and how we are taking action to stabilize the operations of the exchange and move toward opening up withdrawals as soon as possible. Protecting user accounts and assets is our top priority.

私たちは、ユーザー、チーム、パートナーにAAXの状況についての最新情報を提供したいと思います – そして、取引所の運営を安定させ、できるだけ早く引き出しを可能にするために、どのように行動しているか。ユーザーのアカウントと資産を保護することは、私たちの最優先事項です。

First of all, we believe AAX has the potential to come through during this incredibly difficult time for the entire market, our users, and our team with user funds and our business intact, as well as a pathway toward restoring trust ahead of us. We recognize the concern that our users feel and are fighting every step of the way to protect our community and ensure we can come out of this predicament together.

まず第一に、私たちはAAXが市場全体、ユーザー、そして私たちのチームにとってこの信じられないほど困難な時期に、ユーザーの資金とビジネスを無傷で切り抜け、信頼回復への道筋をつけることができる可能性を持っていると信じています。私たちは、ユーザーの皆様が感じている懸念を認識し、私たちのコミュニティを守り、共にこの苦境を乗り越えることができるよう、あらゆる手段を講じています。

Our challenge
We have faced an unprecedented series of developments, outlined below, that have led to acute pressure on AAX’s capital position. In order to replace the capital needed to resume all our services, AAX will need to raise new capital. While this is clearly a very difficult environment in which to raise new capital, the amount is not large by market standards.

Our existing shareholders have contributed additional capital over the past week and we have secured interest on new investments. At this stage, we estimate that on top of our liquidity, we are in a good position to get our operations and services fully up and running.

We will continue to work tirelessly to bring in more capital from within our network and across the industry. If we are able to inject additional capital by the end of this week, AAX should be able to resume services as usual. This will be announced along with follow-up plans to get back our momentum.

If AAX is unable to secure funding to enable us to restart operations, AAX is committed to initiating legal procedures to secure and ensure the distribution of assets with continuous communication to our global user base and relevant stakeholders on relevant details.

How we got here
After the collapse of FTX, we understand that our technical team had observed abnormalities in our systems with clear malicious intent which presented a threat to sensitive data in our records. For security reasons, the exchange was brought to a halt and we stopped withdrawals. We recognize that any delay or halt in withdrawals is extremely concerning to our users, but we want to assure all users that this has been done with the best intentions of protecting their funds. We also want to be clear that no funds have been compromised, that assets held with AAX are not under threat from hackers, and that none of the issues we face are in any way related to AAX’s matching engine.

We acknowledge that we could have done a better job of communicating with our users during the early days of withdrawals being suspended. Messages across our platform and social media channels were not as well aligned as they could have been, largely because of the multitude of issues and the challenges of an evolving situation.

In particular, our initial notification on the AAX app that linked the suspension to “issues with a third party” would have been better expressed as us facing issues with malicious actors.

これまでの経緯
FTXの崩壊後、当社の技術チームが、当社の記録にある機密データへの脅威となる、明確な悪意を持ったシステムの異常を観察したことを理解しています。セキュリティ上の理由から、取引所は停止され、出金も停止されました。出金の遅延や停止はユーザーにとって非常に心配なことですが、これはユーザーの資金を保護するという最善の意図で行われたことをすべてのユーザーに保証したいと思います。また、資金が流出したわけではないこと、AAXで保有する資産がハッカーの脅威にさらされているわけではないこと、AAXのマッチングエンジンに関連する問題は一切ないことを明確にしたいと思います。
出金停止の初期段階において、ユーザーとのコミュニケーションにもっと良い方法があったことは認識しています。これは、問題が山積していたことと、状況が変化していたことが主な理由です。
特に、AAXアプリの最初の通知で、停止を「第三者との問題」と関連づけたのは、当社が悪意ある行為者との問題に直面していると表現した方がよかったでしょう。

Why do we need additional capital?
AAX has always been a prudently managed exchange. However, after we suspended withdrawals and in the context of the FTX saga, some of our investors indicated their desire to withdraw their capital from AAX, putting us at risk of capital deficit, which we have to make up for, before we are in a solid enough position to resume normal operations, ensure liquidity and continuity. AAX’s approach here has been immediate intervention, rather than trying to address this deficit through unsustainable and risky methods such as trading or borrowing. We aim to approach this differently and get through this industry crisis productively.

In spite of the threats to our systems that we have observed from malicious actors, we are committed to starting to process withdrawals as soon as we have resolved the capital shortfall.

Other issues surrounding open positions on derivatives markets, or questions around reward programs will be dealt with fairly and with reason.

なぜ追加資本が必要なのですか？
AAXは常に慎重に管理されている取引所です。しかし、出金停止後、またFTXの問題で、一部の投資家がAAXから資金を引き出す意向を示したため、資本不足のリスクが生じ、通常業務を再開し、流動性と継続性を確保するのに十分な状態になる前に、それを補う必要がありました。AAXのアプローチは、取引や借り入れといった持続不可能でリスクの高い方法でこの赤字に対処しようとするのではなく、即時介入することでした。私たちは、これまでとは異なる方法でアプローチし、この業界の危機を生産的に乗り切ることを目指しています。
悪質な業者によるシステムに対する脅威が確認されていますが、資本不足が解消され次第、出金処理を開始することをお約束します。
その他、デリバティブ市場のオープンポジションに関する問題や、報酬プログラムに関する質問には、公正かつ合理的に対処していきます。

Looking ahead
AAX has grown considerably during 2022, our mission has really been focused on using digital assets to provide the best use cases to users all around the world. We believe we have a viable and exciting future in serving the community that has grown around this exchange, provided we are able to navigate this period of crisis for the wider industry.

Please pay attention to our announcement and Twitter account @AAXExchange to see the updates that will follow.

今後の展望
AAXは2022年に大きく成長しました。私たちの使命は、デジタル資産を使用して、世界中のユーザーに最高のユースケースを提供することに焦点を合わせてきました。私たちは、この業界全体の危機の時期を乗り切ることができれば、この取引所を中心に成長したコミュニティに奉仕する、実行可能でエキサイティングな未来があると信じています。
私たちの発表とTwitterアカウント@AAXExchangeに注目して、この後のアップデートをご覧ください。