Crypto Exchange AAX’s Parent to Be Wound Up by Cayman Court (1)

Atom Holdings, the parent company of defunct cryptocurrency exchange AAX, has been ordered to wind up by a Cayman court, the latest sign of fallout in an industry shaken by the collapse last year of high-profile exchange FTX.

The move comes after AAX liquidators accused unnamed company officials of receiving at least $15 million in crypto wallets they controlled on the Binance platform. The money was transferred from AAX without the company’s authorization, according to court documents filed in US Bankruptcy Court in Fort Lauderdale, Florida.

The company is being wound up by insolvency professionals appointed by the Grand ...