Australian cryptocurrency exchange group DAEX has suspended trading and entered voluntary liquidation. The liquidator is currently calling on creditors to come forward.
Liquidation details
Australian cryptocurrency exchange group DAEX has suspended all trading operations and entered voluntary liquidation, leaving investors uncertain about 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. A statement was posted on the platform’s website on January 5, 2026, confirming that operations had ceased with immediate effect.
The company subsequently appointed Daniel O’Brien of DV Recovery Management as liquidator. The total amount owed to creditors remains unclear, but the liquidators are calling on individuals and organizations who believe they are owed money to contact them immediately.
DAEX is owned by North Sydney-based Digital Capital Group (DCG) and shares the same director and registered office. Notably, DCG itself is not in liquidation and appears to continue with broader business operations.
DAEX, which was launched in 2021, was reportedly positioned as a key player in the digital asset space before its collapse. It is also registered as a money service provider in the United States, including money exchange and remittance services.
Mwari licensing controversy
At the center of post-collapse scrutiny is the allegation that DAEX’s AUDX global arm held a virtual currency license certified and regulated by the Mwari International Services Authority (MISA). MISA operates on the island of Moheli (also known as Mwari), an autonomous island within the Union of the Comoros.
The regulatory body has received severe warnings internationally. The Comoros Central Bank and the Financial Markets Authority of New Zealand (FMA) had previously issued warnings labeling MISA a “fictitious” entity. Furthermore, the Central Bank of the Comoros asserts that it is the sole legal authority for banking and financial licenses on all islands within the Union. It argues that MISA has no legal standing to license financial institutions.
Critics argue that Mwari’s independent registration system is frequently used by offshore entities to gain a veneer of legitimacy without the rigorous oversight typical of Tier-1 regulators. However, the Daily Telegraph reported that it was unclear whether the company was aware of the controversy over the legitimacy of Mwari authorities.
The liquidation follows a period of regulatory change for the company. DAEX was previously a registered representative of fund manager Edisons Global and was authorized to operate under Edisons’ Australian Financial Services License (AFSL). However, the arrangement ended in May last year after the Australian Securities and Investments Commission (ASIC) suspended Edisons Global’s license.
Although DAEX’s registration has been suspended following this suspension, authorities stress that there is currently no suggestion of illegality or wrongdoing by DAEX or its parent company DCG in connection with these events.
Frequently asked questions ❓
- What happened to Australia’s DAEX? DAEX suspended all trading as of January 5, 2026 and entered voluntary liquidation.
- Which platforms are affected by the collapse? AUDX Australia, AUDX Global and GlobalOne Exchange all ceased operations with immediate effect.
- Who is managing the liquidation process? Daniel O’Brien of DV Recovery Management has been appointed liquidator.
- Is DAEX’s parent company also in liquidation? No, Digital Capital Group of North Sydney remains open for business and is not in liquidation.
