Wednesday, 28 May, 2025

Australia Sues Former Blockchain Global Director Over $37M Crypto Exchange Collapse

The Australian Securities and Investments Commission (ASIC) has initiated civil proceedings against Liang (Allan) Guo, former director of the defunct cryptocurrency exchange Blockchain Global, over alleged breaches of director duties. The case centers on Guo's management of customer funds and record-keeping at ACX Exchange, which collapsed in 2019, leaving $37.3 million owed to unsecured creditors. Despite a travel ban, Guo departed Australia in September 2024 after restrictions expired.