Alberta Securities Commission bars Catalyx crypto exchange and fines CEO

The Alberta Securities Commission (ASC) reached a Settlement Agreement and Undertaking with Catalyx CTS Ltd. and its chief executive, Hyuk Jae Park, after the crypto‑asset trading platform breached its pre‑registration obligations. Catalyx, which operated in Canada from 2019 to early 2024, was found to have reported about US$14 million in client assets while only roughly US$150,000 remained, the shortfall attributed to unauthorized withdrawals and misuse of client funds.

The ASC permanently barred Catalyx from trading securities, imposed a cease‑trade order, and fined Park CA$90,000 for failing to promptly report the breach. Catalyx entered receivership in January 2026, and its former users continue to seek compensation through bankruptcy claims. The regulator emphasized that safeguarding client assets and timely breach reporting are core investor‑protection requirements.