The Australian cryptocurrency exchange group DAEX has halted all trading operations and entered voluntary liquidation, leaving investors in a state of uncertainty regarding the recovery of their funds.
According to the Daily Telegraph, the collapse affects several platforms operating under the DAEX umbrella, including AUDX Australia, AUDX Global and GlobalOne Exchange. Statements appeared on the platforms’ websites on Jan. 5, 2026, confirming that operations had ceased effective immediately.
The company has since appointed Daniel O’Brien of DV Recovery Management as the liquidator. While the total amount of debt owed to creditors remains unclear, the liquidator has urged any individuals or entities who believe they are owed money to make contact immediately.
DAEX is owned by Digital Capital Group (DCG), a North Sydney-based firm that shares the same sole director and registered office. Notably, DCG itself is not in liquidation and appears to continue its broader business activities.
Before its collapse, DAEX, which launched in 2021, was reportedly positioned as a significant player in the digital asset space. It was also registered in the U.S. as a money services business for currency exchange and transfers.
A central point of scrutiny following the collapse is DAEX’s claim that its AUDX Global arm held a cryptocurrency license certified and regulated by the Mwali International Services Authority (MISA). MISA operates out of Mohéli (also known as Mwali), an autonomous island within the Union of the Comoros.
This regulatory body has been the subject of intense international warnings. Both the Central Bank of the Comoros and the New Zealand Financial Markets Authority (FMA) have previously issued alerts labeling MISA as a “fictitious” entity. Furthermore, the Central Bank of the Comoros maintains that it is the sole legal authority for banking and financial licenses across all islands in the Union. It claims MISA has no legal standing to authorize financial institutions.
Critics argue that Mwali’s independent registration system is often used by offshore entities to gain a veneer of legitimacy without undergoing the rigorous oversight typical of Tier-1 regulators. However, according to a Daily Telegraph report, it is unclear if the company was aware of the disputes surrounding the legitimacy of the Mwali authority.
The liquidation follows a period of regulatory shifts for the company. DAEX was formerly a registered representative of fund manager Edisons Global, allowing it to operate under Edisons’ Australian Financial Services Licence (AFSL). However, this arrangement ended in May last year after the Australian Securities and Investments Commission (ASIC) suspended Edisons Global’s license.
While DAEX’s registration ceased following that suspension, authorities have emphasized there is no current suggestion of misconduct or wrongdoing by DAEX or its parent company, DCG, in relation to those events.
- What happened to DAEX in Australia? DAEX has halted all trading and entered voluntary liquidation as of Jan. 5, 2026.
- Which platforms are affected by the collapse? AUDX Australia, AUDX Global, and GlobalOne Exchange have all ceased operations immediately.
- Who is managing the liquidation process? Daniel O’Brien of DV Recovery Management has been appointed as the liquidator.
- Is DAEX’s parent company also in liquidation? No, Digital Capital Group in North Sydney continues operating and is not in liquidation.
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