Blockchain Global, the parent company of a cryptocurrency exchange called ACX.io, entered voluntary administration after its protracted collapse. Customers had been unable to access funds on the exchange since late 2019.Creditor claims are likely to exceed $50 million. The operators of the company allegedly commingled customer, investor, and company funds, and used this pool of money on personal expenses and investments in other companies. The liquidator has recommended that the Australian Securities & Investments Commission (ASIC) investigate the company’s directors, Sam Lee, Zijing “Ryan” Xu, and Liang “Allan” Guo.

Total loss estimated at $50,000,000.