Australian Regulator Sues Ex-Director of Crypto Exchange ACX for Mishandling Funds

Allan Guo, the former director of the closed down Blockchain Global, will face court proceedings in Australia over allegations that he mishandled customer funds of crypto exchange ACX, which was operated by Blockchain Global.The Australian Securities and Investments Commission (ASIC) is bringing civil penalty proceedings in the Federal court against Guo and his involvement in the running of ACX Exchange, which collapsed in December 2019, leaving customers in the dark and unable to withdraw funds."ASIC’s allegations against Mr Guo relate to his dealings with ACX Exchange customer funds, statements made about those dealings and obligations to keep proper books and records," the regulator said in a post on Wednesday.Investigations have been ongoing since Blockchain Global collapsed in 2019 source: https://www.coindesk.com/policy/2025/05/28/australian-regulator-sues-ex-director-of-crypto-exchange-acx-for-mishandling-funds