MBAex (an acronym for "Modern Business Assets Exchange") was launched around 2017 as a digital asset trading platform primarily targeting the Southeast Asian market. The company promoted itself as a secure and reliable cryptocurrency exchange, offering trading pairs for major digital currencies. However, in late 2019, the platform abruptly halted withdrawals and became inaccessible, leading to significant investor losses. Subsequent investigations and reports by authorities and media outlets in several countries revealed that the company was operating without proper licenses and was allegedly structured as a Ponzi scheme.

Founded in

Cyprus