Artak Hamazaspyan Wiki, Age, Net Worth, Wife, Salary & Children

Who is Beaxy Crypto Exchange CEO Artak Hamazaspyan?

Artak Hamazaspyan (age: 34; born in 1988) is an Armenian-American entrepreneur, investor, and businessman popularly known as Beaxy Digital’s founder. Artak is also the sole and principal owner of Windy Blockchain Solutions LLC.

In March 2023, Hamazaspyan became the center of news after the SEC made Beaxy shut down all its operations. The Securities and Exchange Commission (SEC) claims the crypto exchange platform failed to register as a securities exchange.

The regulatory agency revealed that Artak was misappropriating customer funds; allegedly, he made the wrong use of $900k for personal use. Hamazaspyan also gambled with the customer’s money.

Why SEC Filed Lawsuit Against Beaxy Crypto Exchange?

In a shocking turn of events, the Securities and Exchange Commission (SEC) accused Beaxy was operating as an unregistered securities exchange under Hamazaspyan’s leadership in violation of federal laws.

Artak is also accused of misappropriating over $900,000 of customer funds for his personal use, including gambling. The allegations come as part of a broader crackdown on the cryptocurrency industry, which has seen several high-profile cases involving fraud and misconduct.

Even after Windy Inc. took over the platform in 2019, the new management continued using Beaxy to trade crypto assets that were offered and sold as securities, leading to further violations of securities law. Windy and its current managers have agreed to pay $79,200 in civil penalties to avoid additional penalties.

However, they did not admit to or deny the SEC’s allegations, leaving the agency to continue litigating securities fraud charges against Hamazaspyan. The accusations against Hamazaspyan are a stark reminder of the risks of investing in cryptocurrency.

The lack of regulation and oversight has left investors vulnerable to fraud and misconduct, and investors must exercise caution and due diligence when considering investments in this sector.

Despite the challenges facing the industry, there are reasons for optimism. The SEC’s actions demonstrate a growing recognition of the importance of digital assets and suggest that efforts are being made to create a safer and more stable environment for investors.

As the market continues to evolve, we will likely see more regulation and oversight, which could ultimately benefit all stakeholders in the industry.

From Where is Artak Hamazaspyan?

In 1988, Artak Hamazaspyan (age 34) was born in Yerevan, Armenia. In his school days, Artak was a brilliant student; he aced in all subjects, and his family knew he would do something extraordinary.

In 2006 he completed schooling and enrolled at European University to study computer science. Following his bachelor’s degree, he joined the American University of Armenia for his master’s degree.

Artak Hamazaspyan’s Career

In 2010 he came to America and joined Netsoft USA, but he worked there for only 7 months before moving to Benerik Ltd., where he provided his services for only a brief period.

In September 2017, he formed Beaxy Digital Ltd., which, over the years, got very popular. In September 2019, he left his position as CEO because he wanted to do more and work on other projects.

In 2023, SEC sued Hamazaspyan for not registering Beaxy and against other serious allegations. He is accused of making illegal use of the funds of his clients. As per the report released by SEC, this Armenian investor has not been living in America since November 2020 and currently resides in Yerevan.

Artak Hamazaspyan Q&A

Ques: How old is Artak Hamazaspyan?

Ans: 34 (as of 2022).

Ques: Who is Beaxy Crypto Exchange CEO?

Ans: Artak Hamazaspyan.

Ques: Where does Artak Hamazaspyan live?

Ans: Yerevan, Armenia.

Ques: How much is Artak Hamazaspyan’s net worth?

Ans: $8.72 million.