ANX Distances Itself from CoinMKT After Implication in Scandal Charges

Hong Kong-based ANX has sought to distance itself from the exchange.

Hong Kong-based ANX, the parent company of US-based bitcoin exchange CoinMKT, has sought to distance itself from the exchange following the recent charges of federal law enforcement agent criminal behavior with bitcoins.

One of the accused, former Drug Enforcement Agent (DEA) Carl Force, was allegedly an investor and/or compliance officer with CoinMKT. Among several other charges, he is accused of freezing client funds under the guise of suspicious activity, then funneling them to his personal accounts.

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Earlier this year, ANX purchased the domain name and brand rights to CoinMKT. The purchase was viewed as a possible push into the US market. CoinMKT continues to operate as a separate exchange under the ANX brand and using ANX technology.

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In a brief update, CoinMKT said that it purchased the domain from West Orange Labs on January 22, but “did not receive in the transaction any historical data, such as customer records, transaction histories, identification materials, or email correspondence.”

In addition, the alleged criminal activities took place “well before ANX purchased the domain.” Assumingly, ANX was unaware of the events when they made the purchase.

The update ends by saying that the domain continues to operate as normal without disruption.

CoinMKT itself has not issued its own update, other than referencing that of ANX.

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