Crypto exchange AAX said it has suspended activity, citing an upgrade.

“Withdrawals have been suspended to avoid fraud and exploitation,” the company said.

According to the company, there will be a 7-to-10-day delay in services due to the failure of a third-party partner, which caused the system to record abnormal data.

The exchange did not identify the partner but said it does not have any exposure to FTX, adding that it stores its assets in cold wallets and doesn’t lend out user funds to venture activities.

Author: Katie Lin