How Bosnia's ACX Crypto Exchange Went From Big Promises to a Regulatory Ban

Bosnia and Herzegovina's ACX Crypto Exchange, once lauded for its ambitious promises, has now been banned by regulators after a series of failures. The exchange, operated by Adria Technology, claimed to be the harbinger of a "new crypto era" and attracted significant investments, including a BAM 6.3 million American investment. However, the reality was far from the grandeur promised by its founder, Branko Petrović, a former police officer with a stellar police record.

Accounts at ACX and its sister platform, ACX+, were frozen due to a tax debt of BAM 3,783. Inspectors were denied access, and customers were left chasing a fraudster who continued to lecture on cybersecurity. Petrović, despite his police credentials, became a central figure in the scandal. He promised a new era of cryptocurrency, but customers were left unable to access their own funds.

On August 14, 2026, Republika Srpska's Securities Commission ordered Adria Technology to leave its virtual currency service provider register for one year. The commission's decision highlighted the exchange's failure to cooperate with inspectors and its numerous financial compliance violations. Despite months of inaccessible accounts, desperate customer complaints, blocked company bank accounts, criminal reports, and a successful lawsuit by creditors, Petrović escaped payment despite the issuance of a court judgment.

Republika Srpska, as one of Bosnia and Herzegovina's two constituent entities, allowed Petrović to evade accountability.

The scandal exposes a significant accountability gap in Europe's border region. A crypto operator can lock customers out of their funds, ignore regulators, and evade court process servers, yet still remain free. Petrović, a decorated police officer, leveraged his police connections to build trust with potential investors. His police service and ACX career were presented as credentials for digital forensics and cybersecurity, which he later used to establish ACX.

The company's financial reality, however, was far different. Public filings revealed Adria Technology's 2025 revenue at just BAM 176,193, with a significant loss and negative equity. The exchange's brand of financial empire and security was nothing more than an illusion.