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ASIC Sues Former Blockchain Global Exec Over $20M in Unpaid Customer Claims
ASIC Sues Former Blockchain Global Exec Over $20M in Unpaid Customer Claims
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Australia’s securities regulator has launched civil proceedings against Liang Guo, a former director of defunct crypto exchange ACX.io, alleging misappropriation of over $20 million in customer funds. The Australian Securities and Investments Commission (ASIC) initiated its investigation in January 2024, building on earlier red flags including a 2017 IPO stop order and a liquidator’s 2023 report detailing asset mismanagement.
The case intersects with international enforcement actions as co-director Sam Lee faces separate U.S. charges for allegedly orchestrating a $1.89 billion Ponzi scheme through HyperFund and HyperVerse. These parallel proceedings highlight growing global coordination in crypto fraud investigations.
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