Warning and status record

Beaxy Status and Official Warnings

Read Beaxy's documented status, named domains and official warnings with dated sources and practical next steps.

By the CoinReckon editorial desk · Published

Evidence snapshot: · Evidence updated 2026-10-19 · Methodology 1.3.

Documentary review. No deposit, trade, withdrawal or support test was performed for this page. Read the methodology.

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Choose your location to see its recorded access and ratings. GLOBAL covers the documented international route; it does not mean access in every country.

United States · Status record

Beaxy: recorded position

Status only - no numeric rating

  • ceased operations
  • regulator warning

Access and exclusions

Availability not established.

Beaxy sits in CoinReckon's warnings file rather than the exchange catalog. The record here is built from the U.S. Securities and Exchange Commission's own filings and a public court docket, and it answers a narrow question: what has an authority actually said about this platform, and on what date.

Current documented status

The record carries two status kinds for Beaxy: a regulator warning and ceased operations, both dated from March 29, 2023. That is the day the SEC announced charges against the crypto asset trading platform beaxy.com, its operators and its founder 1. Industry reporting from the same period describes the platform shutting down that same day, amid the charges 3. Beaxy described itself as a centralized exchange, and the record keeps that as a company claim, not a verified product category.

This is a status page, not a scored review. Beaxy is not yet rated on CoinReckon, status-only entries carry no service link or signup path, and nothing below should be read as a reason to use or avoid any other platform.

Which entity or domain the record names

Four different things get confused in coverage of this case, so it helps to keep them apart. The brand is Beaxy. The platform named in the SEC press release is beaxy.com, described there as "crypto asset trading platform beaxy.com (the Beaxy Platform)" 1. The operating company was Windy Inc., which per third-party reporting took over running the exchange in 2019 as a FinCEN-registered money services business 3. That registration is a reporting obligation, not a securities license and not any agency's approval of the business.

Separate again is Beaxy Digital, Ltd., the entity tied to founder Artak Hamazaspyan and to the BXY token offering 12. Market making ran through Brian Peterson and the group the SEC calls the Braverock Entities, which includes Braverock Investments LLC and Windy Financial LLC 2.

Documented item Exact dated value and scope Practical implication for a reader
Service name and claimed category Beaxy, self-described centralized exchange (record checked 2026-10-19) The exchange label is the company's own, carried over from its marketing
Named domain beaxy.com, the only domain in the SEC press release of 2023-03-29 1 No other site under this brand is covered by this record
Authority and action SEC charges filed 2023-03-29; severity recorded as major 124 A U.S. federal securities action, not a state licensing dispute
Case and court SEC v. Beaxy Digital, Ltd., No. 1:23-cv-01962 (N.D. Ill.) 4 The docket is public and can be read without a paid service
Settling defendants Consent judgments entered 2023-04-03, without admitting or denying the allegations 24 A settlement is not a litigated finding of fact
Documented claims process None recorded as of the 2026-10-19 check 12 This evidence record supplies no official route or deadline for recovering funds

Timeline of warnings and actions

The BXY token sale closed in September 2018, raising roughly $8 million in bitcoin, ether and fiat according to industry reporting 3. Operation of the exchange moved to Windy Inc. during 2019 3.

From October 2019, per the SEC's complaint, Nicholas Murphy and Randolph Bay Abbott maintained and developed the Beaxy platform through Windy 2. In December 2019 Windy signed a market-making arrangement for BXY with Peterson and the Braverock Entities, and in May 2020 one company in that group signed a similar arrangement for a second crypto asset the SEC treats as a security 2.

March 29, 2023 is the hinge date. The SEC charged the platform and its operators with acting as an unregistered exchange, broker and clearing agency under Sections 5, 15(a) and 17A of the Exchange Act; charged Hamazaspyan and Beaxy Digital over an unregistered $8 million offering of BXY under Section 5 of the Securities Act; and charged Peterson and the Braverock Entities as unregistered dealers 12. The commission further alleged that Hamazaspyan misappropriated at least $900,000 of offering proceeds for personal use, including gambling 1.

On April 3, 2023, consent judgments took effect against Windy, Murphy, Abbott, Peterson and the Braverock Entities: permanent injunctions plus monetary relief, with no admission or denial of the allegations 24. Civil penalties came to $79,200 across Windy, Abbott and Murphy, with $6,600 from Peterson and $80,000 payable jointly by the Braverock Entities. Disgorgement with interest was set at $10,779 for Windy and $52,000 jointly for the Braverock Entities, amounts the SEC describes as reflecting cooperation 2. Hamazaspyan and Beaxy Digital never answered the complaint; the court entered default in October 2023 and a final default judgment on February 13, 2024, closing the civil case 4.

What the status means for US readers

A federal SEC action reaches every state, so there is no version of this record where Beaxy is restricted in one part of the country and clear in another. The platform is also recorded as having ceased operations, which settles the practical question ahead of the legal one.

For New York readers specifically: this record contains no separate action by New York authorities against Beaxy. That absence is not a New York clearance and not a New York restriction, and it says nothing about whether any other platform may serve state residents. New York availability always has to be established from its own paperwork, never inherited from a federal filing.

Keep the procedural labels straight, because they carry different weight. The March 2023 filing is an allegation. The April 2023 consent judgments are settlements entered without the defendants admitting or denying anything. The February 2024 outcome against the founder and Beaxy Digital is a default judgment, entered because no response was filed, not a verdict reached after a contested trial. The record contains no criminal case against Beaxy or its founder; what is documented is civil. SEC enforcement director Gurbir Grewal framed the agency's theory this way: when a crypto intermediary combines exchange, broker, clearing and dealer functions "under one roof," as the SEC alleged Beaxy did, investors are exposed to serious risk 1.

Funds, claims and official guidance

There is no official withdrawal or claims procedure in these documents. The funds guidance field reads none for both a claims process and an official contact, as of the 2026-10-19 check 12. What the consent terms did require was that Windy wind down the Beaxy platform, return client assets and funds to customers, and destroy the BXY in its possession 2. No receiver appointment and no freeze of customer assets appears anywhere in this record, so the current status of former customers' balances is not established by it.

That gap is exactly what recovery fraud feeds on. No paid procedure for getting money back from Beaxy exists in any official document here. Anyone asking for an advance fee, a "release fee" or a seed phrase is running a second scheme on top of the first. Documented reporting channels for US residents are IC3, the FTC's fraud reporting site, the SEC itself and your state securities regulator.

Practical next steps and evidence limits

Work through this before you spend money or time on anything connected to the name:

  • Identity and geography. Confirm you are looking at beaxy.com in the 2023 SEC filings and not a current site reusing the brand. No clone or lookalike domain is confirmed by any official source in this record, which also means no site using the name today is backed by one.
  • Intended operation. If the goal was trading or holding a balance, the ceased-operations status closes it. There is no supported path to open or restore an account.
  • Documented cost or status limit. The monetary figures on file are court-ordered penalties and disgorgement from April 2023, not a fee schedule. The amounts set in the February 2024 default judgment are not captured in this evidence record.
  • Custody and provider boundary. Beaxy held customer assets itself, a function the SEC treated as clearing agency activity 1. Nothing here shows a third-party custodian holding those balances now.
  • Next step consistent with the evidence. Preserve records: account statements, deposit and withdrawal confirmations, on-chain transaction IDs, BXY purchase receipts and any platform correspondence. Then follow the public docket in case No. 1:23-cv-01962 rather than any private service offering updates.

Quick questions

Which Beaxy domain does the warning name? Only beaxy.com. That is the single domain identified in the SEC press release of March 29, 2023 1, and any other address carrying the brand falls outside this record.

Does the evidence record provide a recovery or claims route? No. Both the claims process and the official contact fields read none as of the 2026-10-19 check 12, so there is no documented route and no deadline to meet.

Does an official warning establish every allegation as proven? No. The March 2023 charges are allegations; the April 2023 consent judgments were entered without admission or denial; the February 2024 judgment against the founder and Beaxy Digital came by default rather than from a contested ruling 24.

If you held a balance on the platform, build your document file first and read the primary filings below yourself. Our criteria and limits for entity records are set out in how CoinReckon assesses services, the full warning file is at the category hub, and scored entries live in all crypto service reviews if you want to see what a rated entry looks like next to a status-only one, such as a related service profile. Spotted a document we have misread or a dated detail that has moved? Send an editorial correction.

Sources

  • 1 U.S. SEC - SEC Charges Crypto Trading Platform Beaxy and its Executives for Operating an Unregistered Exchange, Broker, and Clearing Agency (Press Release 2023-64, 2023-03-29): sec.gov
  • 2 U.S. SEC - Beaxy Digital, Ltd., et al. (Litigation Release LR-25687): sec.gov
  • 4 CourtListener (PACER mirror) - SEC v. Beaxy Digital, Ltd., et al., No. 1:23-cv-01962 (N.D. Ill.), docket: courtlistener.com
  • 3 Guidehouse Insights - Crypto Exchange Shuts Down Amid SEC Charges (2023), third-party reporting: guidehouse.com

Evidence dates in this record come from the underlying evidence record check of 2026-10-19 and the snapshot imported 2026-10-20; every date in the body is the date of the document or event itself.

General educational information, not personal investment, legal or tax advice. Crypto assets can lose value, and reading official documents is not a guarantee of safety, access or recovery of funds. This page contains no affiliate links and no purchase incentives.

Sources