ASIC Sues Exec Over $20M Claims

ASIC Charges Former Blockchain Global Director Over $20M Fund Misuse

• ASIC filed civil charges against Liang Guo for misusing over $20 million in ACX customer funds.
• The investigation began in January 2024, following a 2017 IPO stop order and a 2023 liquidator report on misappropriated assets.
• ACX.io, operated by Blockchain Global Ltd., left customers with claims exceeding $22.7 million after freezing withdrawals in late 2019.
• Co-director Sam Lee was charged in the U.S. for allegedly running a $1.89 billion Ponzi scheme linked to HyperFund and HyperVerse.

ASIC has launched civil proceedings against Liang Guo, former director of Blockchain Global Ltd., for allegedly misusing over $20 million in customer funds from the ACX exchange. The investigation revealed significant financial discrepancies and governance issues dating back to at least 2017.