Sydney crypto exchange enters liquidation

Daniel O’Brien of DV Recovery Management has been appointed liquidator of DAEX Pty Ltd, formerly trading as AUDX Australia, AUDX Global, and GlobalOne Exchange, after the Sydney-based cryptocurrency platform abruptly ceased trading in early January.

The liquidation took effect on 6 January 2026, with notices posted on the AUDX and GlobalOne websites confirming that operations had stopped and directing customers and counterparties to contact the liquidator regarding any amounts claimed to be owing. The sudden shutdown left users unable to access trading functions or withdraw funds, immediately raising questions around asset custody and creditor priority.

DAEX was incorporated in 2021 and operated as a digital asset exchange offering trading in cryptocurrencies including Bitcoin and Ethereum. The business presented itself as a global platform, marketing services under multiple brands and jurisdictions. Public materials indicate that DAEX is owned by Digital Capital Group, an associated entity that is not itself in liquidation and appears to continue trading.

The liquidator has not yet disclosed the scale of DAEX’s liabilities or the quantum of customer balances potentially affected. At this early stage, the position of client assets, including whether cryptocurrencies or fiat funds were held on trust or commingled with company funds, remains a central issue likely to shape recoveries and any priority claims.

DAEX’s regulatory footprint spanned several jurisdictions. The company had been registered as a money services business in the United States and promoted offshore licensing arrangements for its international operations. In Australia, DAEX had previously been authorised as a representative of an Australian financial services licensee, although that arrangement ended in 2025 following regulatory action against the company.