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News Update
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ASIC Sues Former Blockchain Global Exec Over $20M in Unpaid Customer Claims
**ASIC Sues Ex-Exec Over $20M Fraud**
The Australian Securities and Investments Commission (ASIC) has filed a lawsuit against Allan Guo, a former executive of Blockchain Global, over allegations of misappropriating funds amounting to $20 million. These funds were meant for customers who now face unpaid claims. In February, ASIC obtained interim court orders restricting Guo's travel outside Australia. However, he departed shortly after these orders expired. The legal action highlights ongoing issues in the cryptocurrency sector related to security and financial misconduct.
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