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ASIC Sues Former Blockchain Global Director Over ACX Exchange Collapse
ASIC Sues Former Blockchain Global Director Over ACX Exchange Collapse
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Australian regulators have taken civil action against Liang Allan Guo, a former director of Blockchain Global, for alleged breaches of corporate duties tied to the failure of crypto exchange ACX. The platform abruptly halted customer withdrawals in late 2019, leaving A$58 million ($37.3 million) in unsecured creditor claims.
ASIC’s lawsuit centers on Guo’s handling of client funds and record-keeping failures. Liquidators from Pitcher Partners traced the disappearance of digital assets, prompting the January 2024 investigation. The case underscores growing regulatory scrutiny of crypto exchanges following investor losses.
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