Abaxx Technologies, the Canadian company behind Singapore’s Abaxx Exchange, has asked Canadian market regulators to investigate whether manipulative trading occurred in its shares following a short-selling campaign by Viceroy Research, and it has brought in heavyweight law firm Paul Weiss to help mount its defense.
What Viceroy alleged, and what happened next
Viceroy Research, a short-selling firm, disclosed a short position against Abaxx on June 11, 2026. What followed was a series of reports, published on June 12 and June 15, that went considerably further.
The core accusation: Abaxx Exchange’s trading volumes are largely the product of wash trading, not genuine market interest. Viceroy claims the exchange is essentially trading with itself to inflate activity numbers, making the platform look busier and more valuable than it actually is.
Viceroy’s reports also questioned the exchange’s underlying technology and cast doubt on whether there’s real demand for the derivatives contracts it offers. The market reacted predictably. Abaxx shares dropped approximately 13.8% following Viceroy’s initial report.
