The collapsed Australian cryptocurrency exchange has allegedly used customer funds to run the business. According to a Sydney Morning Herald article on a court proceeding that examined the allegations of the exchange’s liquidators, Blockchain Global, the company that owned the bankrupt ACX crypto exchange, has utilized customer deposits to fund another area of its business rather than holding them in reserve. Jin Chen, a former chief technology officer (CTO) who left the business in 2018 and is not facing investigation for any misconduct, told liquidators that co-founder of Blockchain Global Allan Guo had issued him instructions to move bitcoin (BTC) The post Australian Crypto Exchange ACX Allegedly Used Customer Funds to Run Business appeared first on Cryptoknowmics-Crypto News and Media Platform.
