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BTCC / BTCC Square / Global Cryptocurrency /
Australian Regulator Sues Former ACX Director Over Mishandled Funds

Australian Regulator Sues Former ACX Director Over Mishandled Funds

Author:
Global Cryptocurrency
Published:
2025-05-28 13:51:02
7
1

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

Investigations reveal Blockchain Global owed $59 million to creditors, including $22.8 million tied to ACX Exchange customers. Guo departed Australia in September 2024 after a travel restraint expired, following ASIC’s probe into his role alongside co-directors Samuel Xue Lee and Zijang Xu.

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