Former ACX Exec Held Accountable for Crypto Exchange’s Collapse in Australia

The Australian Securities and Investments Commission (ASIC) has taken legal action against Guo, a former executive at ACX, following the sudden collapse of the cryptocurrency exchange. The company ceased operations in 2019, leaving over AU$22.7 million owed to customers who lost funds. Guo is accused of mishandling user funds, failing to maintain accurate records, and misleading stakeholders. An investigation began in January 2024 after a comprehensive report from ACX’s liquidators alleged possible violations of Australian law by Guo and other employees involved.