Trading Halts as Liquidators Take Control
The Australian cryptocurrency exchange group DAEX has abruptly ceased operations and entered voluntary liquidation effective January 6, 2026. The collapse shutters three associated platforms: AUDX Australia, AUDX Global, and GlobalOne Exchange. Customers attempting to access their accounts are now met with a static notice from the appointed liquidator, Daniel O’Brien of DV Recovery Management.
The sudden closure leaves client funds frozen with no immediate timeline for recovery. O’Brien has directed creditors to register claims immediately, signaling a potentially complex recovery process for unsecured account holders.
The ‘Fictitious’ License Red Flag
The liquidation exposes a critical regulatory vulnerability: DAEX’s reliance on a license from the Mwali International Services Authority (MISA). While the exchange touted this certification for its AUDX Global arm, the Central Bank of the Comoros has explicitly labeled MISA a “fictitious entity” with no legal standing to issue financial licenses.
“The Mwali International Services Authority Register of Companies is a fabricated entity… It possesses neither legitimacy nor any lawful foundation.”, Central Bank of Comoros
This lack of legitimate oversight suggests that user deposits on the global platform may have lacked the segregation and insurance protections mandated by Tier-1 regulators like ASIC or the FCA.
Distinction from US-Based DCG
DAEX is a subsidiary of a North Sydney-based entity named Digital Capital Group (DCG). This parent company is not in liquidation and continues to operate.
Market Note: This entity has no relation to the US-based Digital Currency Group (parent of Grayscale/Genesis). Traders should avoid conflating the two distinct corporate structures to prevent unfounded contagion fears in broader markets.
Next Steps for Creditors
The liquidator has established a dedicated channel for claimants. Affected users must submit proof of debt to [email protected]. Historical precedent with similar exchange failures suggests the claims process could extend over 12-24 months.
