US EditionAustralian Regulator ASIC Sues Ex-Blockchain Global Director for Mishandling ACX Exchange's Funds
- In May 2025, the Australian regulator ASIC initiated civil legal action against Liang “Allan” Guo, who previously served as a director at Blockchain Global, accusing him of improperly handling more than $20 million in customer funds from the ACX Exchange.
- This lawsuit followed a years-long investigation launched in January 2024, prompted by ACX Exchange's 2019 collapse and previous concerns including a halted 2017 IPO and withheld financial services license due to governance issues.
- Liquidators reported in late 2023 that Blockchain Global owed $58.6 million to unsecured creditors, with $22.7 million belonging to former ACX customers, and found funds were co-mingled and redirected into related entities.
- ASIC alleges that Guo redirected $1.69 million from ACX investor funds into his own investments, including transferring 21.11 Bitcoins valued at around $1.3 million to a personal wallet, while providing false and misleading information and neglecting his responsibility to maintain sufficient financial documentation.
- Guo left Australia after interim travel restrictions expired in August 2024 and remains abroad, while ASIC considers criminal charges amid broader regulatory efforts to tighten oversight of digital asset platforms in Australia.
12 Articles
12 Articles
ASIC Sues Blockchain Executive Over Disappearance of $20M – MAXBIT
Liang Guo faces a $20M ASIC fraudulent charge in the ACX Exchange collapse. Guo was accused of misusing funds and falsifying financial records. Blockchain Global owes $58Mf, including $20M to ACX customers. ASIC has filed legal action against Liang Guo, a past director of Blockchain Global, because of his involvement in the fall of the...
ASIC Sues Former Blockchain Global Executive Over $58M Crypto Collapse – Digital News & Investigative Reports
ASIC Targets Blockchain Global Executive in Legal Action SYDNEY – May 28, 2025 — The Australian Securities and Investments Commission (ASIC) has filed a civil lawsuit against a former senior officer of Blockchain Global Limited, alleging serious misconduct tied to a $58 million cryptocurrency breach. The legal action, lodged in the Federal Court, underscores ASIC’s ongoing crackdown on crypto industry noncompliance.The unnamed executive is accus…
ASIC launches suit against missing ex-Blockchain Global director
Save (0) Please login to bookmarkClose Username or Email Address Password Remember Me The corporate watchdog has brought proceedings against the former director of collapsed cryptocurrency exchange platform Blockchain Global for alleged violations of his directors duties. Subscribe to Lawyerly to access this article.Already a subscriber? Username or Email Address Password Remember Me Lost your password? The…
Australia Sues Former ACX Director Over Crypto Exchange Collapse - FinanceFeeds
Australia’s corporate watchdog has launched civil penalty proceedings against Allan Guo, a former director of Blockchain Global, over his role in the collapse of cryptocurrency exchange ACX. The Australian Securities and Investments Commission (ASIC) said Guo breached his duties as an executive at Blockchain Global, which ran ACX until it folded in 2019. The company still owes more than A$22.7 million (US$14.6 million) to former users. ACX opera…
Coverage Details
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
