Cryptocurrency exchange Beaxy shuts down due to SEC lawsuit
ChainCatcher message, due to the U.S. Securities and Exchange Commission (SEC) accusing Beaxy and its founder Artak Hamazaspyan of operating an unregistered exchange and brokerage, the cryptocurrency exchange Beaxy has officially shut down.
The SEC also accused Beaxy Digital Ltd. of illegally raising $8 million through the issuance of unregistered securities (BXY tokens). Additionally, Hamazaspyan "misappropriated at least $900,000 for personal use, including gambling." (source link)
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