<ul><li>ASIC has filed a legal action against Liang Guo, a former director of Blockchain Global, for misusing over $20 million from customers at ACX Exchange.</li><li>ACX Exchange, overseen by Blockchain Global between 2016 and 2019, shut down in late 2019, leaving $20 million owed to former customers as part of a $58 million debt to unsecured creditors.</li><li>ASIC began investigating Blockchain Global in January 2024 after concerns were raised by liquidators, revealing financial irregularities where customer funds were misappropriated for personal gain.</li><li>Liang Guo, accused of moving funds for personal use and facing allegations of violating the Corporations Act, left Australia in September 2024 after ASIC blocked his passport due to suspicions related to the collapse of ACX Exchange.</li></ul>

ASIC Sues Blockchain Executive Over Disappearance of $20M

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