Former ACX executive in Australia is being held accountable for the crypto collapse of the exchange that operated between 2016 and 2019.
The collapse of Blockchain Global, ACX's parent company, has left unsecured creditors, including users who lost money, owed over AU$22.7 million (US$14.6 million).
An investigation into the executive's conduct began in January 2024 after a report outlined possible breaches of the Corporations Act.
This case highlights the increasing regulatory pressure on crypto executives in Australia and emphasizes the importance of transparency, compliance, and proper governance in the crypto industry globally.