Global #Australian Securities and Investments Commission

As cryptocurrency mining companies fail, over $100 million is lost by Australian investors

ASIC, the Australian Securities and Investments Commission, has filed a civil lawsuit against the NGS firms and Brett Mendham, Ryan Brown, and Mark Ten Caten, the directors of those companies.

The collapse of two unlicensed cryptocurrency firms totaling $104 million has drawn the attention of Australian regulators

Reportedly, the Australian Securities and Investments Commission (ASIC) has initiated legal action against two cryptocurrency companies and their directors for operating without licenses in Australia. These companies are accused of being involved in a complex scheme that led to investors losing AU$160 million, equivalent to $104 million.