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BTCC / BTCC Square / Global Cryptocurrency /
Former ACX Director Faces Legal Action Over Alleged Fund Mishandling

Former ACX Director Faces Legal Action Over Alleged Fund Mishandling

Author:
Global Cryptocurrency
Published:
2025-05-28 13:37:14
11
3

Allan Guo, ex-director of defunct Blockchain Global, is facing civil penalty proceedings in Australia’s Federal Court. The Australian Securities and Investments Commission alleges Guo mismanaged customer funds at ACX Exchange, which collapsed in December 2019 leaving users unable to withdraw assets.

Liquidators discovered Blockchain Global owed creditors $59 million, with $22.8 million belonging to ACX Exchange customers. Guo left Australia in September 2024 after travel restrictions expired, following ASIC’s investigation into his role alongside two other directors in the exchange’s downfall.

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