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ASIC obtains Federal Court orders appointing receivers over digital currency assets of blockchain mining companies
ASIC has commenced civil proceedings against blockchain mining companies NGS Crypto Pty Ltd, NGS Digital Pty Ltd and NGS Group Ltd (NGS Companies) and the sole directors of those respective companies, Brett Mendham, Ryan Brown and Mark Ten Caten. On 10 April 2024, the Federal Court made orders appointing Anthony Connelly, Kathy Sozou, and Jamie Harris of McGrathNicol as receivers over the digital currency assets of the NGS Companies and of Mr Mendham, Mr Ten Caten and Mr Brown. ASIC applied for these orders because it is concerned that the digital assets of investors, which are invested in the blockchain mining ... (full story)