Liang “Allan” Guo, 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! 🚫It is reported that the company owes as much as US$37 million (AU$58 million)! 😱Australia’s ASIC stated that it has obtained a temporary travel restriction order against Guo from the Federal Court, dated February 20. Guo must surrender all passports he owns and is banned from leaving Australia until August 20. 🔒

It is understood that Blockchain Global operated the crypto exchange ACX Exchange from January 2016 to December 2019, and liquidators were appointed on February 11, 2022 to oversee the liquidation of the exchange. 📉Australian ASIC accused Guo of transferring US$1.69 million (approximately AU$260) from a bank account of ACX exchange investor funds to personal investments. 💸 Additionally, ASIC believes that in 2019, Guo transferred 21.11 Bitcoins (currently worth approximately $1.3 million) to his personal wallet. 💰Guo will appear in court again on March 12. 🏛️(Cointelegraph)