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Crypto Exec Slapped with Lawsuit as Aussie Watchdog Cracks Down on ACX Fund Mishandling
Crypto Exec Slapped with Lawsuit as Aussie Watchdog Cracks Down on ACX Fund Mishandling
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Another day, another crypto scandal—this time down under. Australia’s financial regulator just threw the book at a former director of crypto exchange ACX, alleging gross mismanagement of user funds. Because apparently, ’not your keys, not your coins’ wasn’t warning enough.
When will they learn? The irony of centralized exchanges preaching decentralization while playing fast and loose with customer assets never gets old. The lawsuit drops as the industry faces mounting pressure to clean up its act—or have regulators do it for them.
One thing’s certain: this won’t be the last time a crypto bigwig gets caught with their hand in the digital cookie jar. But hey, at least traditional bankers can’t monopolize financial misconduct anymore.
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