Australian crypto exchange group DAEX has ceased all trading operations and entered voluntary liquidation, raising fresh uncertainty for users and investors over whether funds can be recovered. According to reports, notices were posted on the group’s websites on Jan. 5, 2026, confirming that operations had stopped with immediate effect.
The shutdown affects several platforms under the DAEX umbrella, including AUDX Australia, AUDX Global, and GlobalOne Exchange. The company has appointed Daniel O’Brien of DV Recovery Management as liquidator. While the total amount owed to creditors has not been disclosed, the liquidator has urged any person or entity that believes money is owed to them to make contact as soon as possible to begin the claims process.
Parent company remains active as creditor questions mount
DAEX is owned by Digital Capital Group (DCG), a North Sydney-based firm that shares the same sole director and registered office. However, the parent company itself is not in liquidation and appears to be continuing its broader business activities. DAEX, launched in 2021, had reportedly positioned itself as a notable participant in the digital asset market and was also registered in the United States as a money services business for currency exchange and transfers.
For customers, the main concern now is how much, if any, of their holdings can be recovered. At this stage, the scale of DAEX’s liabilities remains unclear, and there is no indication yet of what creditors may eventually receive. The progress of the liquidation process and the verification of claims will likely shape the next phase for affected users.
Scrutiny intensifies over Mwali licensing claims
Another major issue attracting attention after the collapse is DAEX’s claim that its AUDX Global unit 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.
That licensing claim has become controversial because MISA has previously been the subject of international warnings. Both the Central Bank of the Comoros and New Zealand’s Financial Markets Authority have described MISA as a “fictitious” entity. The Comoros central bank has also stated that it is the only lawful authority empowered to issue banking and financial licenses across the union’s islands, arguing that MISA has no legal standing to authorize financial institutions. Critics say offshore entities sometimes use such registrations to create an appearance of legitimacy without undergoing the tighter scrutiny associated with top-tier regulators.
The report noted that it remains unclear whether DAEX was aware of the disputes surrounding the legitimacy of the Mwali authority. The exchange had also previously operated as a registered representative of fund manager Edisons Global, which allowed it to use Edisons’ Australian Financial Services Licence. That arrangement ended in May last year after the Australian Securities and Investments Commission suspended Edisons Global’s license. Importantly, authorities have said there is currently no suggestion of misconduct or wrongdoing by DAEX or its parent company DCG in connection with those developments.