Overview

• ASIC filed civil penalty proceedings on May 28, 2025, in Federal Court against Liang “Allan” Guo alleging multiple breaches of director duties.
• The regulator alleges Guo misused ACX Exchange customer funds, made misleading statements and failed to keep proper books and records.
• ACX Exchange froze withdrawals in late 2019, triggering customer claims of at least $22.7 million alongside unsecured creditor debts exceeding A$58 million.
• Travel restraints on Guo expired on September 23, 2024, allowing him to leave Australia and he remains overseas.
• ASIC’s probe began in January 2024 after liquidators reported co-mingling of customer and company funds, and other former Blockchain Global directors remain under investigation.