Former Blockchain Global director restricted from leaving Australia

The former director of Australian encryption company Blockchain Global was temporarily banned from leaving the country due to his involvement in the company's collapse. The company owes US$37 million (A$58 million). Australia’s ASIC said it had obtained a temporary travel restriction order from the Federal Court against former Blockchain Globa director Liang “Allan” Guo, dated February 20. Guo must surrender any passports he owns and is banned from leaving Australia until August 20. The order was made in Guo's absence, meaning he could not immediately respond to the decision. Guo is next due in court on March 12. Australian ASIC said Blockchain Global operated crypto exchange ACX Exchange between January 2016 and December 2019, and liquidators were appointed on February 11, 2022 to oversee the liquidation of the exchange. Australia's ASIC alleges Guo transferred US$1.69 million (approximately AU$260) from a bank account of ACX exchange investor funds into personal investments. ASIC also believes that in 2019, Guo transferred 21.11 Bitcoins (currently worth approximately $1.3 million) to his personal wallet. (Cointelegraph)