Hong Kong police have charged a 39-year-old man with three counts of theft and one count of fraud in connection with the AAX cryptocurrency platform. The charges were brought after the platform ceased operations in November 2022, citing "system maintenance," during which approximately HK$633 million in virtual currency was allegedly misappropriated by the platform's management. The accused, who left Hong Kong in November 2022, was arrested upon re-entering the city in July 2024. By that time, police had received reports from 890 victims, involving a total of HK$208 million. Previous arrests in the case include AAX founder and former CEO Chen Zhenxiong and Vico Capital director Liang Haoming.